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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Canadian Jobs Market Tanks in December

General Michelle Foster 12 Jan

Canadian employment fell 62,600 last month, a bit weaker than expected, following seven months of recovery (see chart below). The rapid rise in COVID cases and the ensuing lockdown measures in many key regions caused the net loss in jobs in the mid-December survey. Especially hard hit were workers at restaurants and hotels who suffered […]

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Getting Your Home Winter Ready

General Michelle Foster 17 Nov

Winter is coming… With the changing of the seasons, it can be a good time to take stock of your home and ensure you are ready for the winter and it’s colder weather. To help you feel more comfortable, save on bills and prevent future repair costs, there are some simple things you can do […]

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Credit-Free Christmas in 5 Steps

General Michelle Foster 6 Nov

The holidays are a beautiful time of year, filled with sparkling lights and delicious meals and overplayed tunes. As much as these celebrations bring us joy and harmony, they can also bring us stress. This is particularly true when it comes to your finances! This year, aim for a credit-free Christmas! With a little planning, […]

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Getting a Mortgage When You’re New to Canada

General Michelle Foster 5 Nov

Canada has seen a surge of international migration over the last few years. In 2019, we welcomed a total of 313,580 immigrants to the country! This is an increase of 40,000 individuals when compared to 2017 numbers. According to planned immigration levels, it is estimated that Canada will receive 341,000 permanent residents in 2020. In […]

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