Bank of Canada Hikes The Bank of Canada dropped a hammer to the real estate market with a 0.25% rate hike. After a 4 month pause to rates, the BoC took the 33% rate hike prediction from economists, and flipped odds betters with another increase. Our...
The Debt Ceiling? The “Debt Ceiling” is the maximum amount of money Congress allows the federal government to borrow to cover its bills (CNBC). Because the government spends more money than it collects in taxes, it must take out debt to pay its expenses. Prior to...
Rates Surge Here we go again. Lenders are dealing with a dramatic increase in their funding costs. This has spiked mortgage rates on all fixed rate terms. Yields are increasing due to various factors including; Fear of further central bank tightening due to inflation report (more on that...
A seller's market has returned Real estate markets across Canada have surged in April. This is going to make CREA's data release on Monday one to watch. Stay tuned for that next week. The rumour is, the numbers are going to surprise a lot of people....
The Final Fed Hike? The U.S Federal Reserve hiked another 25 basis points on Wednesday. Could this be the final rate hike for the foreseeable future? Most economists think so as Powell is now acknowledging some progress as the U.S labour market is coming into “balance”....
Inflation Slows to 4.30% With lower inflation comes lower interest rates. Tiff Macklem spoke at the Parliament's Standing Committee on Finance Tuesday. "We are encouraged by the progress so far". This is the first time we have seen inflation reports that begin with a “4” since...
Bank of Canada Holds at 4.50% As expected, the Bank of Canada held the key rate at 4.50%. Macklem advised Canadians, "Don't plan on inflation staying high." The Bank expects CPI inflation to fall quickly to around 3% in the middle of this year and...
First Home Savings Account (FHSA) The purpose of the FHSA is to provide first time home buyers more tax benefits when saving for a down payment. You must be a first time home buyer between 18 and 71. You can save up to $8,000/year capped at $40,000 over...
Rate ExceptionsWorrisome USA inflation data sets are causing The Bank of Canada’s “Time to First Cut” to be pushed to Q2 of 2023. 2-year yields continue to rise, and the USA FED pressures to increase rates will continue.The market is now pricing in three consecutive...
SVB Situation Explained After widespread client withdrawals, we are witnessing the second-biggest bank collapse in U.S history. Silicon Valley Bank was a well-capitalized institution with a 40-year history. They are an important institution for the tech and venture capital sector, and it is estimated that 50%...