12 Mar

RESIDENTIAL MARKET UPDATE Dr. Sherry Cooper Chief Economist, Dominion Lending Centres drsherrycooper@dominionlending.ca

General

Posted by: Adriaan Driessen

    The Bank of Canada Holds Rates Steady Until Core Inflation Falls Further Today (March 6, 2024), the Bank of Canada held the overnight rate at 5% for the fifth consecutive meeting and pledged to continue normalizing the Bank’s balance sheet. Policymakers remain concerned about risks to the outlook for inflation. The latest data […]

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20 Apr

Residential Market Update

General

Posted by: Adriaan Driessen

Canadian March Home Sales Posted Their Biggest Decline Since June Statistics released today by the Canadian Real Estate Association (CREA) show that rising interest rates were already dampening housing activity well before the Bank of Canada’s jumbo spike in the key policy rate in mid-April. National home sales fell back by 5.4% on a month-over-month […]

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13 Apr

Residential Market Update

General

Posted by: Adriaan Driessen

Bank of Canada Hikes Rates by 50 BPs, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate by a full 50 basis points for the first time in 22 years. This was a widely telegraphed action that will be followed by the US Federal Reserve next month. […]

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2 Mar

General

Posted by: Adriaan Driessen

    Bank of Canada Starts Hiking Rates, Signalling More To Come The Governing Council of the Bank of Canada raised the overnight policy rate target by a quarter percentage point in a widely expected move and signalled that more hikes would be coming. This is the first rate hike since 2018. In a cautious […]

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1 Mar

Wanted: Home Sellers

General

Posted by: Adriaan Driessen

Housing affordability remains a huge political issue, and with the Department of Finance working on the upcoming budget, no doubt measures to reduce home prices will be front and center. With an election coming this spring in Ontario, Premier Ford’s Housing Affordability Task Force has made recommendations to step up homebuilding. Still, Ontario’s mayors are […]

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1 Mar

Inflation Ticked Up Again in January

General

Posted by: Adriaan Driessen

The CPI rose 5.1% from year-ago levels in January, driven by higher gasoline and car prices. Published by Sherry Cooper                February 16, 2022 StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected […]

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1 Mar

Residential Market Update

General

Posted by: Adriaan Driessen

Canadian 5-Year Bond Yield Surges In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered […]

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14 Sep

RESIDENTIAL  MARKET UPDATE

General

Posted by: Adriaan Driessen

Industry & Market Highlights Surge in outstanding residential mortgage credit’: CMHC sees risk of delinquencies jumping Canadians piled on mortgage debt even as COVID-19 forced the country into lockdowns, and Canada Mortgage and Housing Corporation (CHMC) worries many will eventually struggle to keep up with payments. The national housing agency says total outstanding mortgage debt […]

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19 Aug

RESIDENTIAL  MARKET UPDATE 

General

Posted by: Adriaan Driessen

Industry & Market Highlights  The Bank of Canada 5-year Benchmark Qualifying Rate reduced to 4.79% Effective Monday August the 17th, The Bank of Canada Benchmark qualifying rate was reducing from 2.94% to 2.79%.  The impact of the lower qualifying rate on borrower’s purchasing power is small – e.g for an average single family home costing […]

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