No Rate Hike For The 2nd Time In A Row

General Michelle Foster 13 Apr

The Bank of Canada Holds Rates Steady Again But Maintains Its Commitment To 2% Inflation The Bank of Canada left the overnight policy rate at 4.5%, as expected, stating their view that inflation will hit 3% by mid-year and reach the 2% target by next year. They admit, however, that demand continues to exceed supply, […]

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Wait – My Home Is Worth How Much??

General Michelle Foster 6 Feb

You received your property assessment notice in the mail in January and it says your home is worth a certain amount, but how does your municipality determine that value? The value on your assessment was actually decided on July 1st of the previous year. Property assessors look at the real estate market conditions in your […]

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Will Rates Increase Again in 2023?

General Michelle Foster 6 Jan

Employment Report Ended 2022 With A Boom Today’s Labour Force Survey for December was much stronger than expected, raising the odds of a 25 bps increase in the policy rate by the Bank of Canada on January 25th. While the Bank has hiked rates by 400 bps to 4.25%, core inflation remains sticky, wages have […]

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Blockbuster Canadian Jobs Report for February

Latest News Michelle Foster 11 Mar

Canada Reached Full-Employment in February Statistics Canada released the February Labour Force Survey this morning, reporting a much more significant than expected 336,600 net new jobs, with the unemployment rate falling a full percentage point to 5.5%. This is the first time the unemployment rate fell below its pre-Covid level and reinforces the expectation for […]

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Why Didn’t the Bank of Canada Raise Interest Rates In January?

General Michelle Foster 4 Feb

Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions took a much larger toll in Canada than expected, as employment fell 200,100 in January and the unemployment rate rose 0.5 percentage points to 6.5%. Ontario and Quebec […]

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Bank of Canada Holds Rates Steady Again

General Michelle Foster 26 Jan

It came as a surprise to many who were forecasting a 0.25% rate increase, but the Bank of Canada chose to maintain the overnight rate at 0.25%. What does this mean for your mortgage? Contact me today to discuss how your mortgage could be affected and what your options are! Bank Will Hike Rates At […]

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Bank of Canada Holds Rates Steady – June 9 2021

General Michelle Foster 9 Jun

Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain […]

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Bank of Canada Holds Rates and Bond-Buying Steady

General Michelle Foster 10 Mar

Much has changed since the Bank of Canada’s last decision on January 20. While the second pandemic wave was raging, new lockdowns were implemented in late 2020, and there were fears that the economy, in consequence, was likely to grow at a 4.8% annual rate in Q4 and contract in Q1. Instead, the lockdowns were less […]

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Longer-Term Yields are Rising Despite Central Bank Inaction

General Michelle Foster 23 Feb

While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year Government of Canada bond, upon which mortgage rates are generally tethered, are currently at 0.69%, up 27 basis points since January 29th. […]

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