Mortgagerates - Blog - The Westlake Team

March's Weak Jobs Report Sets The Stage For A June Rate Cut

By Scott WestlakeApril 5, 20240 comments

#BoC #bankofcanada #interestrates #mortgagerates #variablerates #economy #inflation

Today's StatsCanada Labour Force Survey for March is much ...Read more...

The Bank of Canada Holds Rates Steady Until Core Inflation Falls Further

By Scott WestlakeMarch 6, 20240 comments

#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales

Today, the Bank of Canada held the overnight rate at 5% ...Read more...

The Bank of Canada Holds Rates Steady And Expects Rate Cuts Later This Year

By Scott WestlakeJanuary 24, 20240 comments

#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales

Today, The Bank of Canada held the overnight rate at 5% for the fourth consecutive meeting but provided an outlook suggesting that monetary easing will begin by mid-year. The Bank ...Read more...

A Bumpy Road To The Inflation Target

By Scott WestlakeJanuary 18, 20240 comments

#Boc #bankofcanada #interestrates #mortgagerates #variablerates #economy #inflation

Canada's headline inflation number for December '23 moved up three bps to 3.4%, as expected, as gasoline prices didn't fall as fast ...Read more...

Canadian Home Sales Surprisingly Strong in December

By Scott WestlakeJanuary 16, 20240 comments

#bottomline #interestrates #mortgagerates #economicoutlook

Statistics released today by the Canadian Real Estate ...Read more...

The Table Is Set For Rate Cuts In 2024

By Scott WestlakeDecember 1, 20230 comments

#interestrates #ratecuts #mortgagerates #rates2024 #BoC

The Canadian economy ...Read more...

Hawkish Hold By The Bank of Canada

By Scott WestlakeOctober 25, 20230 comments

#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales

Increasing Mortgage Rates Weighed Heavily On Housing In September

By Scott WestlakeOctober 16, 20230 comments

#economy #mortgagerates #refinance #renewal #Purchase #boc

Mortgage rates continued to rise in September after BoC tightening and one of the largest bond selloffs in history. Yields have retraced some of their rise more recently, but demand ...Read more...

Another Strong Jobs Report Tests BoC's Patience

By Scott WestlakeOctober 7, 20230 comments

#jobs #economy #mortgagerates #sherrycooper

Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall ...Read more...

Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate Hikes

By Scott WestlakeSeptember 15, 20230 comments

#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #homesales

Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, ...Read more...

Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown

By Scott WestlakeSeptember 6, 20230 comments

#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy

With last Friday's publication of the anemic second-quarter ...Read more...

Rate Hikes Are Definitely Off The Table

By Scott WestlakeSeptember 1, 20230 comments

#mortgagerates #interestrates #bondyield #economicupdate #variablerate

The Canadian economy ...Read more...

July Headline Inflation Rose to 3.3%, But Core Inflation Improved

By Scott WestlakeAugust 16, 20230 comments

#economy #mortgagerates #refinance #renewal #Purchase #boc

The Consumer Price Index (CPI) rose 3.3% y/y in July, up from a 2.8% rise in June. The acceleration in headline inflation was widely expected due to a base-year effect on gasoline ...Read more...