Bank of Canada Rate Cut: A Positive Step for CanadiansBy 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...
March's Weak Jobs Report Sets The Stage For A June Rate CutBy Scott WestlakeApril 5, 20240 comments#BoC #bankofcanada #interestrates #mortgagerates #variablerates #economy #inflation Today's StatsCanada Labour Force Survey for March is much ...Read more...
A Bumpy Road To The Inflation TargetBy 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...
Brisk Wage Gains in December Will Keep The BoC WatchfulBy Scott WestlakeJanuary 8, 20240 comments#boc #rates #mortgagerate #economy #economicupdate Today's StatsCanada Labour Force Survey for December was ...Read more...
Housing Markets Prepare For A 2024 ReboundBy Scott WestlakeDecember 14, 20230 comments#housingmarket #springmarket #realestatemarket #interestrates #economy Before we get into the details of the November housing market data released this morning by the Canadian Real Estate Association (CREA), big positive news for housing occurred yesterday. ...Read more...
Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The TableBy Scott WestlakeNovember 3, 20230 comments#rates #economy #sherrycooper Today's StatsCanada Labour Force Survey for October was ...Read more...
Increasing Mortgage Rates Weighed Heavily On Housing In SeptemberBy 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 PatienceBy 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...
August Inflation Hotter Than ExpectedBy Scott WestlakeSeptember 20, 20230 comments#rates #economy #sherrycooper ...Read more...
Bank of Canada Holds Rates Steady Acknowledging Economic SlowdownBy Scott WestlakeSeptember 6, 20230 comments#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy With last Friday's publication of the anemic second-quarter ...Read more...
July Headline Inflation Rose to 3.3%, But Core Inflation ImprovedBy 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...
The Long-Awaited Labour Market SlowdownBy Scott WestlakeAugust 5, 20230 comments#jobs #economy #mortgagerates #sherrycooper The Canadian economy shed 6,400 jobs in July, far weaker ...Read more...
Interest Rates Will Stay Higher For LongerBy Scott WestlakeJuly 13, 20230 comments#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy ...Read more...
It's a Close Call Which Way the Bank Will GoBy Scott WestlakeJuly 8, 20230 comments#BoC #bankofcanada #interestrates #mortgagerates #variablerates #economy Employment growth last month came in at a whopping 60,000 ...Read more...
Holy Smokes, The Bank of Canada Means BusinessBy Scott WestlakeJune 8, 20230 comments#boc #bankofcanada #interestrates #mortgagerates #variablerates #economy If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy ...Read more...
Canadian Inflation Rose More Than Expected in April, But Core Inflation SlowedBy Scott WestlakeMay 17, 20230 comments#inflation #rates #mortgagerates #economy #drsherrycooper There's been an unexpected hiccup in the Bank of Canada's ongoing battle against inflation. Year-over-year, price pressures escalated to 4.4% in April, an uptick from the previous ...Read more...