13 Jun

Canadian Labour Market Is Much Too Tight–Adds To Inflation Pressure

General

Posted by: James L James

With inflation reaching a 40-year high, what impact does the current employment rate have? Today’s Labour Market Survey for May 2022 showed that hiring continued at a rapid pace last month in an increasingly tight labour market, driving the jobless rate to another record low and fueling a sharp acceleration in wage gains. The economy […]

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24 May

Rent prices rose 9% in April, and could keep rising with a housing slowdown

General

Posted by: James L James

Expect decreasing rental affordability accompanied with low rental stock available. With rising rental demand outpacing available inventory, rent prices rose an average of 9% across the country in April compared to last year. The average monthly rent reached $1,821 in the month, continuing its upward trend from the low of $1,676 seen last April in […]

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4 May

CMHC: Supply is the “Biggest Issue Affecting Housing Affordability”

General

Posted by: James L James

As many Canadian have realized purchasing a house in recent years. Supply is a big concern which has increased the value of many homes making it harder to purchase once “affordable” homes. A shortage of housing supply has been the predominant issue impacting housing affordability, according to the Canada Mortgage and Housing Corporation (CMHC). That […]

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18 Apr

The State of Inflation

General

Posted by: James L James

Inflation Just Keeps Going Up While looking at the world’s contributing factors, here’s a quick look into the current stability of inflation Another month, another record-setting inflation print. In March, inflation continued on its upward trajectory, surging 8.5% year-over-year and ‘fueled’ by rising energy and food costs. The war in Ukraine and associated disruption to […]

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17 Mar

General

Posted by: James L James

Inflation Pressures Accelerating StatsCanada today reported that consumer prices rose 5.7% year-over-year in February, up again from the prior month’s 5.1% rise. This was the largest gain since August 1991 (+6.0%). This was no surprise, as the Ukraine War has stepped up inflation pressure worldwide. The US CPI rose a whopping 7.9% last month (see […]

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2 Mar

Bank of Canada Kicks Off Rate-Hike Cycle, Raises Rates by 25 bps

General

Posted by: James L James

The time has come with the long wait for Bank of Canada to make its decision! Two years after drastically cutting Canadian interest rates at the start of the pandemic, the Bank of Canada has kicked off a new rate-hike cycle. On Wednesday, the Bank opted for a quarter-point rate hike, which brings the overnight […]

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1 Mar

The Bank of Canada’s First Rate Hike Since 2018 Expected This Week

General

Posted by: James L James

  This week Bank of Canada will come out with its first highly anticipated rate hike since 2018. Big Banks and Lenders have been increasing their fixed rates, but how will this BoC rate hike affect variable rates across Canada? Fixed mortgage rates have been rising steadily since late last year, but this week it’s […]

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20 Feb

Inflation Ticked Up Again in January

General

Posted by: James L James

Canadian Inflation Rose Again in January to 5.1%, Pressuring The Bank of Canada to Hike Rates in March. Inflation Ticked Up Again in January   StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected but still well below US […]

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10 Feb

Equitable Acquires Concentra Bank in $200M Deal

General

Posted by: James L James

Good news for mortgage brokers who deal with Equitable Bank. Equitable Bank announced this week that it has entered into an agreement to acquire a majority interest in Saskatchewan-based Concentra Bank. As part of the $200-million deal, Equitable will acquire 84% common share equity interest in Concentra, which is the 13th largest Schedule I bank […]

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