Variablemortgage - Blog - The Westlake Team

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...

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...

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...