Affordable Housing Is A Key Theme In Federal Budget 2022By Scott WestlakeApril 8, 20220 comments#budget #housing #drsherrycooper #drcooper #twt #SW #DLC Today's budget announced a $10 billion package of proposals intended to reduce the cost of housing in Canada (see box below). The fundamental problem is insufficient supply to ...Read more...
Inflation Pressures AcceleratingBy Scott WestlakeMarch 21, 20220 comments#inflation #drsherrycooper StatsCanada today reported that consumer prices rose 5.7% year-over-year in February, up again from the prior month's 5.1% rise. This was the largest gain since August 1991 (+6.0%). ...Read more...
New Real Estate Listings Finally Show Some LifeBy Scott WestlakeMarch 21, 20220 comments#realestatelistings #drsherrycooper Statistics released today by the Canadian Real Estate Association (CREA) show that national home sales were up in February 2022 as buyers jumped on the first spring listings. The ...Read more...
Inflation Ticked Up Again in JanuaryBy Scott WestlakeFebruary 17, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC StatsCanada today reported that consumer price inflation rose to 5.1% from year-ago levels in January, compared to 4.8% in December. This was higher than expected but still well ...Read more...
Wanted: Home SellersBy Scott WestlakeFebruary 17, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC Housing affordability remains a huge political issue, and with the Department of Finance working on the upcoming budget, no doubt measures to reduce home prices will be front and ...Read more...
No Wonder The Bank of Canada Didn't Hike Interest Rates Last MonthBy Scott WestlakeFebruary 7, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc Statistics Canada released the January Labour Force Survey this morning, reporting a much more extensive than expected decline in jobs last month. The Omicron shutdowns and restrictions ...Read more...
Bank Will Hike Rates At Next MeetingBy Scott WestlakeJanuary 26, 20220 comments#economicupdate #sherrycooper #SW #TWT #DLC #rateupdate #boc While markets were 70% certain the Bank would hike their overnight target rate today, we remained of the view that the Governing Council would hold off until March or April because ...Read more...
Mortgage Broker News - Housing Affordability Erodes Further With Record-Low SupplyBy Scott WestlakeJanuary 17, 20220 comments#economicupdate #boc #drsherrycooper #SW #TWT #DLC To connect with Scott Westlake, scott@thewestlaketeam.com Housing affordability remains a huge political issue and with the Department of Finance working on the upcoming ...Read more...
Strong December Jobs Report in Canada. Another Strong Jobs Report In DecemberBy Scott WestlakeJanuary 10, 20220 comments#economicupdate #drsherrycooper #mortgagerates #August2021 #SW #TWT #DLC #scottwestlake To connect with Scott Westlake scott@thewestlaketeam.com Article: Statistics Canada released the December Labour Force Survey this morning, reporting employment gains of 54,700 last month–double market expectations. The unemployment rate fell to 5.9% from the 6.0% rate ...Read more...
Housing Demand Outpaces SupplyBy Scott WestlakeDecember 16, 20210 comments#economicupdate #sherrycooper #SW #TWT #DLC Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose 0.6% in November following the whopping 8.6% surge the month ...Read more...
Federal Fiscal Update: Canada Has Weathered The Pandemic Storm Relatively WellBy Scott WestlakeDecember 15, 20210 comments#economicupdate #sherrycooper #SW #TWT #DLC Finance Minister Chrystia Freeland extolled the performance of the Canadian economy in response to the extraordinary support provided by the federal fiscal authorities and the Bank ...Read more...
Bank of Canada Leaves Expectations For 2022 Rate Hikes IntactBy Scott WestlakeDecember 9, 20210 comments#economicupdate #sherrycooper #SW #TWT #DLC The Bank of Canada decided to keep its target for the overnight rate at 0.25%, in line with forecasts and to maintain its forward guidance, which sees a rise in the overnight rate ...Read more...
Another Blockbuster Jobs Report in NovemberBy Scott WestlakeDecember 4, 20210 comments#economicupdate #drsherrycooper #mortgagerates #August2021 #SW #TWT #DLC #scottwestlake Statistics Canada released the November Labour Force Survey this morning, reporting employment gains of 153,700 last month--four times bigger than expectations. The unemployment ...Read more...