5 Jun

Rate Cut: First One in Four Years!

General

Posted by: Karli Shih

  The Bank of Canada has cut the overnight rate for the first time in four years, a welcome relief to borrowers nationwide.  The prime rate, which sits at 2.2% above the overnight rate, will subsequently drop from 7.2% to 6.95%.  Variable and adjustable rate borrowers, as well as borrowers with Home Equity Lines of […]

Read More
22 May

Canadian Inflation Eased Again in April, Raising the Chances of a June Rate Cut

General

Posted by: Karli Shih

    The Consumer Price Index (CPI) rose 2.7% year-over-year (y/y) in April, down from 2.9% in March. This marks the fourth consecutive decline in core inflation. Food prices, services, and durable goods led to the broad-based deceleration in the headline CPI. The deceleration in the CPI was moderated by gasoline prices, which rose faster in April […]

Read More
15 May

Mortgage Renewal Freedom

General

Posted by: Karli Shih

  Though it’s a great idea to review your mortgage each year, there is never a better time for a mortgage review than in the year leading up to your renewal. Take advantage of this point in your mortgage; your wallet will thank you.  Here’s why: Get a Better Rate: Explore other lenders for preferable […]

Read More
11 Apr

Bank of Canada Holds Rates Steady For Sixth Consecutive Meeting

General

Posted by: Karli Shih

    Today, the Bank of Canada held the overnight rate at 5% for the sixth consecutive meeting and pledged to continue normalizing its balance sheet. Governor Macklem confirmed that inflation is moving in the right direction, labour markets are easing, and wage pressures appear to be dissipating. In today’s release of the April Monetary […]

Read More
3 Apr

Amortization Options – How Time Affects Your Mortgage

General

Posted by: Karli Shih

  Amortization can be viewed as the time it will take you to repay your mortgage without making extra payments.  It can be adjusted to increase or decrease your mortgage payment and interest due.  Mortgage payments are calculated by spreading out the repayment of the mortgage amount at a certain interest rate over a specified […]

Read More
28 Mar

A Closer Look at Your Credit Score

General

Posted by: Karli Shih

  When applying for a mortgage, one of the factors lenders review is your credit score.  Many prospective property owners don’t pay much attention to this metric until they begin a mortgage pre-qualification discussion. However, your credit score is one of the most important aspects of a mortgage application when it comes to maximizing your […]

Read More
20 Mar

Great News On The Inflation Front

General

Posted by: Karli Shih

    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 in the US. However, […]

Read More
13 Mar

Canadian Employment Gains Strong in February

General

Posted by: Karli Shih

    Today’s StatsCanada Labour Force Survey for February was a mixed bag and shows the dramatic effect of surging immigration. Canadian employment rose by a much stronger-than-expected 41,000, dominated by a 71,000 rise in full-time jobs. The employment rate–the proportion of the population aged 15 and older who are employed–fell a tick to 61.5%. This […]

Read More
6 Mar

Rates Held Steady But Cut Still Anticipated Mid-Year

General

Posted by: Karli Shih

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 fell to 2.9% in January, but year-over-year and three-month measures of core inflation […]

Read More
29 Feb

Canadian Inflation Falls to 2.9%, Boosting Rate Cut Prospects

General

Posted by: Karli Shih

  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. Excluding gasoline, headline CPI slowed to 3.2% y/y, down from 3.5% in December. Headline inflation […]

Read More