Will the Bank of Canada look past the setback? Canada’s rate of inflation accelerated by more than expected for the second straight month, but the gains that are largely driven by higher gasoline prices may allow the Bank of Canada to look past the setback. The consumer price index rose 4% in August from a […]

London, Ont. mayor Josh Morgan laid out his ideas for spending the $74 million being given to the city by the federal government for housing . On Wednesday, Prime Minister Justin Trudeau announced that London will receive the money as part of the Housing Accelerator Fund in exchange for the city’s agreement to pursue a series of measures — including […]

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, well below the 10-year moving average shown in the chart below. However, on a year-over-year (y/y) basis, the number of transactions rose 5.3%. The […]

The Bank of Canada may have decided against a rate increase in its September announcement, but Canadian homeowners and buyers shouldn’t assume the central bank has reached an endpoint on its rate-hiking path. That’s according to Ratehub.ca co-CEO and CanWise president James Laird (pictured), who told Canadian Mortgage Professional that the Bank’s language in last […]

Following a marked decline in employment in July, Statistics Canada reported a gain of 40,000 net new jobs in August. Hiring increased in professional, scientific and technical services and construction and declined in educational services and manufacturing. Population growth outpaced the growth in net new employment, depressing the employment rate to 61.9%. The unemployment rate […]

With last Friday’s publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today’s meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%. Today’s press release announced, “The Canadian economy has entered a period of […]

The Bank of Canada has a single mandate—to ensure that inflation returns to the 2% target. This means that the Bank will raise interest rates if inflation is too high and lower interest rates if inflation is too low. The U.S. Federal Reserve, in contrast, has a dual mandate—to maximize employment given a 2% target […]

Financial independence is a critical skill for future success that your children will not learn anywhere else. Not only does financial literacy help your children have more success in life, but it allows them to move out sooner and it avoids delaying your retirement with additional expenses to support them. So, how do you teach […]

When it comes to purchasing a home, most offers include “conditions” (or “subjects” if you are in the provinces of British Columbia or Manitoba), which are requirements or criteria to be met before the sale can be finalized and the property is transferred. Some of the most common conditions include: Financing approval Home inspection Fire/home […]

Rate Hikes Are Definitely Off The Table The Canadian economy weakened surprisingly more in the second quarter than the market and the Bank of Canada expected. Real GDP edged downward by a 0.2% annual rate in Q2. The consensus was looking for a 1.2% rise. The modest decline followed a downwardly revised 2.6% growth pace […]