Each Office Independently Owned & Operated
Posted by: Dean Kimoto
An interesting new survey suggests a growing number of Canadians may be getting ready to move back into the housing market. The newly launched survey by Dye and Durham indicates one in ten are looking to sell their primary residence and move into a new one within the next 12 months; double the number who made the […]
Read MorePosted by: Dean Kimoto
The Bank of Canada says larger and more frequent price increases by businesses have contributed to keeping inflation higher than the Bank would like. The comments were made by BoC Deputy Governor Nicolas Vincent during a speech on Tuesday on the topic of pricing practices and monetary policy. Vincent said the way in which businesses […]
Read MorePosted by: Dean Kimoto
“It ain’t good.” That’s the assessment from Ron Butler of Butler Mortgage following the latest surge in bond yields this week, and as mortgage providers continue to raise mortgage rates. On Tuesday, the Government of Canada 5-year bond yield jumped to an intraday high of 4.46%, but have since retreated to around 4.32% as of […]
Read MorePosted by: Dean Kimoto
Mortgage providers across the country have been busy raising rates over the past week, and it could continue next week as bond yields continue to rise. On Thursday, the Government of Canada 5-year bond yield briefly surged to an intra-day high above 4.41%. It pulled back slightly, but remains at a 16-year high. As a […]
Read MorePosted by: Dean Kimoto
Even though prospective homeowners usually pay for their home appraisal, many remain unaware that they typically won’t receive a copy of it. That’s because the professional appraiser sent to calculate the value of a home—which can cost anywhere from a few hundred to several thousand dollars—doesn’t actually work for the prospective homeowner. “Most brokers know […]
Read MorePosted by: Dean Kimoto
Fixed mortgage rates could surge higher in the coming week after Government of Canada bond yields—which lead fixed mortgage rates—shot up to a 16-year-high. Rate-watchers say mortgage providers could hike rates by anywhere from 20 to 30 basis points (0.20% to 0.30%). “Fixed rates should be up 20 bps on this news, however if the […]
Read MorePosted by: Dean Kimoto
When deciding to leave interest rates unchanged at its Sept. 6 monetary policy meeting this month, the Bank of Canada determined the past hikes are working to slow the economy. “[Governing Council] members agreed that data since their last decision had shown more clearly that demand was slowing, and excess demand was diminishing as monetary policy gained […]
Read MorePosted by: Dean Kimoto
Housing markets in the country’s largest markets continued to moderate in August, following the Bank of Canada’s recent interest rate hikes over the summer. What began as a strong spring housing rally has since cooled with more balanced conditions in most markets. In the Greater Toronto Area, the country’s largest housing market, both prices and […]
Read MorePosted by: Dean Kimoto
CIBC reports that its mortgage clients are so far managing to absorb the payment shocks as their mortgages come up for renewal at higher rates. The bank made the comments during its third-quarter earnings call, where Chief Risk Officer Frank Guse confirmed the bank has already navigated a substantial number of mortgage renewals at higher […]
Read MorePosted by: Dean Kimoto
Today the bank of Canada held its policy interest rate at 5% citing slowed economic growth due to a weakening in consumption growth, decline in housing activity, and the impact of wild fires across the country. See the full Bank of Canada post here: Bank of Canada maintains policy rate, continues quantitative tightening How does […]
Read More