Ottawa to Allow 30-year Amortizations for First Time Buyers' Mortgages on New HomesBy Scott WestlakeApril 12, 20240 comments#FTHB #firsttimehomebuyer #mortgagenews #insuredmortgage #newbuild #marketupdate Advocates are applauding Ottawa's decision to extend the amortization period on insured mortgages for specific homebuyers, viewing it as a positive step toward making homeownership more attainable. Finance Minister Chrystia Freeland announced the extension to 30 years for insured ...Read more...
February Data Bode Well For A Strong Spring Housing MarketBy Scott WestlakeMarch 18, 20240 comments#housingmarketupdate #economicoutlook ...Read more...
High Interest Rates Have Not Slowed the Labour Market SufficientlyBy Scott WestlakeMay 8, 20230 comments#jobsreport #marketupdate #economy #mortgagerates #drsherrycooper The Canadian labour market has done it again, blowing ...Read more...
Finally, Some Good News on the Inflation FrontBy Scott WestlakeAugust 11, 20220 comments#inflation #economy #marketupdate #interestrates 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 ...Read more...
Canadian Inflation Surged to 8.1% in JuneBy Scott WestlakeJuly 22, 20220 comments#inflation #economy #marketupdate #interestrates Another bad inflation number was posted today. The rate of consumer inflation continued to rise, reaching 8.1% year over year (y/y) in June, following the 7.7% gain in May. The increase ...Read more...
Canadian Inflation Surged to 7.7% In MayBy Scott WestlakeJune 23, 20220 comments#inflation #economy #marketupdate #interestrates 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 ...Read more...
Blockbuster September Jobs Report--Further Fuel For Rising Interest RatesBy Scott WestlakeOctober 8, 20210 comments#SW #TWT #DLC #marketupdate #jobs #interestrates For more information on how this information impacts your next mortgage, connect with our team scott@thewestlaketeam.com Statistics Canada released the September Labour ...Read more...
The Slowdown In Canadian Housing Continued in JuneBy Scott WestlakeJuly 16, 20210 comments#housingupdate #marketupdate #economicupdate #mortgaegbroker #SW #TWT #DLC Today the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 8.4% nationally from May to June 2021, marking the ...Read more...
Housing Drove the Economic Expansion in Q1 (Economic Update)By Scott WestlakeJune 2, 20210 comments#mortgagemarketupdate #economicupdate #SW #TWT #DLC #drsherrycooper Housing Drove the Economic Expansion in Q1 ...Read more...