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Posted by: Dean Kimoto
Published by the DLC Marketing Team, September 13, 2022 The Real Deal about Transfers and Switches. Most people who are thinking about a transfer or switch want to take advantage of a lower interest rate or to get a new mortgage product with terms that better suits their needs. Up for Renewal? If your mortgage […]
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Housing Soften Again in August The full effects of the most recent rate hikes have not yet manifested. Statistics released today by the Canadian Real Estate Association (CREA) show that the slowdown that began in March in response to higher interest rates continued in August, albeit at a slower pace. Home sales recorded over Canadian […]
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Job Market Weakens As Economy Slows The August employment report, released this morning by Statistics Canada, was considerably weaker than expected. Higher interest rates have slowed the red-hot labour market. The Canadian economy shed 39,700 jobs in August, missing market expectations of a 15,000 rise and bringing cumulative declines since May 2022 to 113,500 […]
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The Bank of Canada Hiked Rates Again And Isn’t Finished Yet The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points today to 3.25% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its […]
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Published by Sherry Cooper, August 17, 2022 Macklem’s Op-Ed (emphasis is mine) NATIONAL POST COMMENT, AUGUST 16, 2022 Inflation in Canada has come down a little, but it remains far too high. After rising rapidly to reach 8.1 per cent in June, inflation as measured by the consumer price index (CPI) was 7.6 per cent in […]
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It was widely expected that US consumer price inflation would decelerate in July, reflecting the decline in energy prices that peaked in early June. The US CPI was unchanged last month following its 1.3% spike in June. This reduced the year-over-year inflation rate to 8.5% from a four-decade high of 9.1%. Oil prices have fallen […]
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3 Things You May Not Know About Cash-Back Mortgages. It can get pretty exciting to see campaigns around “cash-back mortgages” but, before you get too far along, here are three things you might not know about these types of mortgages: Occasionally you will see campaigns on cash-back mortgages, so don’t jump at the first one […]
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A Super-Sized Rate Hike, Signalling More To Come The Governing Council of the Bank of Canada raised its target for the overnight policy rate by a full percentage point to 2-1/2%. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure on longer-term […]
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3 Advantages of a Pre-Approval. While getting pre-qualified can give you a ballpark estimate on what you can afford, getting pre-approved is where the real magic happens. Mortgage pre-approval means that a lender has stated (in writing) that you do qualify for a mortgage and what amount, based on submitted documentation of your current […]
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Canadian Inflation Surged to 7.7% In May Canada’s consumer price index increased 7.7% in May from a year earlier, up from 6.8% in April, the fastest inflation pace since January 1983. The release confirms that the Bank of Canada is staring down the most dangerous burst of Inflation since it started targeting the consumer price index in […]
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