Great News On The Inflation Front The Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from the 2.9% January pace and much slower than the 3.1% expected rate. Gasoline prices rose in Canada for the first time in five months, which led many analysts to forecast a rise in February inflation as seen […]

  The Bank of Canada Holds Rates Steady Until Core Inflation Falls Further Today, the Bank of Canada held the overnight rate at 5% for the fifth consecutive meeting and pledged to continue normalizing the Bank’s balance sheet. Policymakers remain concerned about risks to the outlook for inflation. The latest data show that CPI inflation […]

Real gross domestic product (GDP) rose a moderate 1.0% (seasonally adjusted annual rate), a tad better than expected and the Q3 contraction of -1.2% was revised to -0.5%. This leaves growth for 2023 at a moderate 1.1%. Monthly data, also released today by Statistics Canada, showed that December came in flat, well below the robust […]

The BC NDP Government has been active to start 2024. Last week, the provincial budget was tabled, and a couple big changes are coming to the real estate market. Updates to the Property Transfer Tax (PTT) Framework The 2024 provincial budget the BC Government is making three significant changes to the PTT Framework 1. Increase […]

Canadian Inflation Falls to 2.9% in January, Boosting Rate Cut Prospects The Consumer Price Index (CPI) rose 2.9% year-over-year in January, down sharply from December’s 3.4% reading. The most significant contributor to the deceleration was a 4% decline in y/y gasoline prices, compared to a 1.4% rise the month before (see chart below). Excluding gasoline, […]

Canadian Home Sales Continued Their Upward Trend in January As Prices Fell Modestly The Canadian Real Estate Association announced today that home sales over the last two months show signs of recovery. National sales were up 3.7% between December 2023 and January 2024, building on the 7.9% gain in December. The chart below shows that […]

Navigating Your Path to Homeownership: A First-Time Homebuyer’s Guide Embarking on the journey to homeownership is an exciting endeavor, but it can also be complex and overwhelming, especially for first-time buyers. As your trusted mortgage broker, I have crafted a comprehensive timeline to guide you through each step of the process. Let’s turn your dream […]

The Bank of Canada Holds Rates Steady And Expects Rate Cuts Later This Year 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 forecasts a soft landing for the Canadian economy, with inflation falling […]

  January 16, 2024 Canadian Inflation Rises to 3.4% Y/Y In December. a bumpy road to the inflation target Canada’s headline inflation number for December ’23 moved up three bps to 3.4%, as expected, as gasoline prices didn’t fall as fast as a year ago. These so-called base effects were also evident in the earlier […]

Brisk Wage Gains in December Will Keep The BoC Watchful Today’s StatsCanada Labour Force Survey for December was a mixed bag and far more robust than the weak headline figure suggests. Total employment in Canada barely budged, rising by a mere 100 jobs in the final month of last year. However, the labour force participation […]