Taking all current indicators into account, an interest rate cut by the Bank of Canada is not likely to happen until at least early 2024, according to Avery Shenfeld, managing director and chief economist at CIBC Capital Markets. This is because while the overall inflation trend might see a considerable decline over the next few […]

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. The US Federal Reserve gave its clearest signal yet that its historic policy tightening campaign is over by projecting more aggressive interest-rate cuts in 2024. This […]

Today’s inflation report was stronger than expected, unchanged from October’s 3.1% pace. While some had forecast a sub-3% reading, the November CPI data posted a welcome slowdown in food and shelter prices. Increases in recreation and clothing offset this–both are discretionary purchases. Cellular services and fuel oil prices declined on a year-over-year basis. The CPI rose […]

A “relatively dovish” statement by the Bank of Canada yesterday (December 6) suggested that the central bank’s rate-hiking path is at an end, according to CIBC deputy chief economist Benjamin Tal (pictured top). The Bank left its policy rate unchanged for a third consecutive decision, with few surprised by a statement that arrived amid cooling […]

Decision makers at the Bank of Canada could be weighing up possible interest rate cuts in 2024 – but they’re sure to be keeping a close eye on developments south of the border as they consider a timeline for rates to come down. Signs of a slowing economy, including easing core inflation and a gross […]

The New Year is approaching! While we are in the spirit of goal planning and setting our intentions for the coming months, don’t forget about your home! There are several things you can do to make your home and finances work for you in 2024: Review Your Home Budget (or make one!): Money can be a […]

The holidays are a wonderful time of year for the merriment, music, lights… and treats! You’ll need to throw out the scale for this list of scrumptious holiday dessert ideas. Gingerbread Cookies: Did you know? The oldest recorded gingerbread recipe, dating to the 16th century, is kept in the Germanic National Museum in Nuremberg! A tried-and-true […]

As we move into yearend, we have every reason to believe that the economy has slowed and inflation, while still above target, has dropped significantly. But slower inflation does not mean falling prices in most markets. Yes, gasoline prices are down, and food inflation has slowed, but the purchasing power of households has not improved. Consumer […]

The Bank of Canada’s path on interest rates has grabbed headlines and dominated the news cycle throughout 2023 – but its final rate decision of the year isn’t expected to hold many surprises. The central bank has left its policy rate, which leads variable mortgage rates in Canada, unchanged in its last two announcements, with […]

It’s been one of the trends of the year in Canada’s mortgage market: borrowers facing steep interest rate hikes deciding to ease some of the immediate shock by stretching out their amortization and keeping payments at a manageable level. The option hasn’t been without its critics: Canada’s banking watchdog, the Office of the Superintendent of […]