Inflation Rises are no longer just talk, they are here. Prices are Rising Everywhere–Transitory Can Last A Long Time Today’s release of the September Consumer Price Index (CPI) for Canada showed year-over-year (y/y) inflation rising from 4.1% in August to 4.4%, its highest level since February 2003. Excluding gasoline, the CPI rose 3.5% y/y last […]

Expectations for the first Bank of Canada interest rate hike have moved up to as early as April as inflation concerns grow and supply disruptions persist. Nearly half of Canadian businesses (45%) expect inflation to run hot at more than 3% over the next year, according to the Bank of Canada’s third-quarter Business Outlook Survey released Monday. […]

September sees high prices with minimal supply. The national average home price re-accelerated in September, returning to a level last seen in May, while housing supply continued to trend down. The average selling price in September was $686,650, up 13.9% year-over-year and 3.5% from July’s reading of $663,500. Removing the high-priced markets of the Greater […]

Are You safe If Your Variable Rates Changed? As you may, or may not, have noticed the Bond Yields have continued to rise … currently at 1.258; where as 1.08 this time a week ago. The general rule of thumb was to expect a 1.3% spread between Bond and 5yr Insured Rate. Over the last […]

Mortgage Rates Increasing TD Bank and CIBC were the first of the Big 6 banks to reverse their recent mortgage rate cuts last week. Exactly two weeks after TD Bank cut its special-offer mortgage rates by a whopping 45 basis points, the bank reversed course and hiked its 5-year fixed rates by 30 bps. The […]

A new prime lender to keep an eye out for! Strive is live — and it’s Canada’s latest prime lender in the mortgage broker market. Now, let me be the first to say what many of you are already thinking, “Do we really need another mortgage finance company (MFC) in the broker channel?” Think about […]

  Do you have a financial buffer in place if interest rates rise? House-hungry Canadians drove new mortgage volumes up to a quarterly high, soaring 60.2 per cent to more than 410,000 in the second quarter from the year before, according to new data from credit company Equifax Canada. The size of the average new […]

Condominiums overtaking single-detached homes in new construction Single-detached home construction fell despite the faster pace of growth in overall housing stock, Statistics Canada says New properties in Ontario and British Columbia tend to be condominium apartments, according to new data from Statistics Canada. From 2019 to 2020, condo apartments accounted for a significant chunk of […]

5 Year Fixed Rates Being Lowered Again! RBC Royal Bank became the third Big 6 bank to lower its 5-year fixed mortgage rate over the weekend. The bank dropped its uninsured 5-year fixed rate by 25 basis points to 2.19% The move came days after similar cuts by CIBC and TD Bank last week. On […]

A few possible trends and risks to keep in mind From rising inflation and falling consumer confidence to changing real estate preferences, Canada’s mortgage market impacts from multiple fronts. Ben Rabidoux, a real estate analyst and founder of Edge Realty Analytics, recently participated in a webinar hosted by Mortgage Professionals Canada where he outlined some of the […]