Bankofcanada - Blog - The Westlake Team

Welcome to the September issue of my monthly newsletter!

By Scott WestlakeSeptember 3, 20240 comments

#monthlynewsletter #mortgagenews #bankofcanada #mortgagerates #ratenews

2024 Fall Market ...Read more...

Weaker-Than-Expected July Jobs Report Keeps BoC Rate Cuts In-Play

By Scott WestlakeAugust 12, 20240 comments

#economicupdate #employment #bankofcanada

Canadian employment data, released today by Statistics ...Read more...

Bank of Canada Rate Cut: A Positive Step for Canadians

By Scott WestlakeJune 6, 20240 comments

#rate #boc #bankofcanada #interestrates #variablerate #economy

Today, the Bank of Canada announced a reduction in its overnight policy interest rate by 0.25% to 4.75%. While this may seem like a small change, it is a positive step for consumer sentiment, especially in an expensive country and province where many of our clients reside. Although ...Read more...

April's Strong Job Gains Likely Postpone Rate Cuts Until July

By Scott WestlakeMay 13, 20240 comments

#bankofcanada #interestrate #boc #variablemortgage #mortgagerates #economicupdate

Today's StatsCanada Labour Force Survey for April blindsided economists by coming in much more robust than expected. Employment in Canada rose a whopping 90,400 in April, the most ...Read more...

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...

Great News On The Inflation Front

By Scott WestlakeMarch 19, 20240 comments

#inflation #bankofcanada #boc #rates #mortgagerate

The Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from the 2.9% January pace and much slower than the 3.1% ...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...

Canadian Inflation Falls to 2.9% in January, Boosting Rate Cut Prospects

By Scott WestlakeFebruary 20, 20240 comments

#inflation #bankofcanada #boc #rates #mortgagerate

The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December's 3.4% reading. The most significant ...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...

Inflation Update

By Scott WestlakeDecember 20, 20230 comments

#inflation #bankofcanada #boc #rates #mortgagerate

Inflation Held Steady In November Today's inflation report was stronger than expected, unchanged from October's ...Read more...

The Bank of Canada Held Rates Steady and Took A More Neutral Tone

By Scott WestlakeDecember 6, 20230 comments

#boc #interestrate #variablerate #bankofcanada #mortgagerate

It was widely expected that the Bank of Canada would maintain ...Read more...

Hawkish Hold By The Bank of Canada

By Scott WestlakeOctober 25, 20230 comments

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

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...