Are We in a Recession? CIBC’s Benjamin Tal Says Yes
🏦 Canada’s Economic Reality: A “Per-Capita Recession” CIBC’s deputy chief economist Benjamin Tal believes Canada’s economy is in a recession — even if it doesn’t yet meet the technical definition.Speaking at the Mortgage Professionals Canada national conference in Ottawa, Tal said that while GDP might not show two straight quarters of decline, the downturn is […]
Canada Adds 60,400 Jobs in September, But Unemployment Stays at 7.1%
Despite stronger-than-expected job growth, Canada’s unemployment rate held steady in September as more people entered the workforce. 📈 Job Growth Beats Expectations According to Statistics Canada, employment rose by 60,400 jobs in September, well above forecasts that predicted only 5,000. Most of the gains came from full-time positions, showing that job quality is improving. The […]
📉 BoC Rate Cut: A Welcome Nudge for Housing
The Bank of Canada lowered its key interest rate by 0.25%, a small but encouraging step for homebuyers and mortgage holders. Experts aren’t expecting an instant buying frenzy, but they agree this move is positive for the housing market. “It’s a flip of the dial in the right direction,” said BMO chief economist Doug Porter, […]
Will the Bank of Canada Cut Rates in September? Signs Point to “Maybe”
Canada’s economy slowed in the second quarter, raising speculation that the Bank of Canada (BoC) could deliver a rate cut at its September 17 meeting. But with jobs and inflation data still on the way, the decision isn’t final. Economy Stumbles in Q2 📉 Statistics Canada reported that GDP contracted by 1.6% year over year, […]
💡Will Your Mortgage Get Cheaper? Inflation Signals Hope
Inflation Slows in July Canada’s inflation rate cooled in July, giving hope that the Bank of Canada (BoC) may consider cutting rates as early as September. According to Statistics Canada, consumer prices rose 1.7% year over year, down from 1.9% in June. 🚗 The biggest factor? A 16.1% drop in gasoline prices compared to last […]
💼 41,000 Jobs Lost, But Unemployment Holds At 6.9%
📉 July Sees Job Losses, Especially for Youth and Full-Time Workers Canada’s job market took a hit in July, losing approximately 41,000 jobs, according to Statistics Canada. The majority of those losses were in full-time positions and private-sector roles. While the unemployment rate stayed at 6.9%, it wasn’t necessarily good news. The rate held steady […]
🏡 CMHC Predicts a Market Cooldown
Canada’s housing market isn’t bouncing back just yet. In its latest summer outlook, CMHC says the market will likely remain slow and cautious through 2025, driven by economic uncertainty, slower population growth, and ongoing trade tensions. 📉 Prices Expected to Dip CMHC predicts home prices will fall about 2% this year. The average Canadian home […]
🏦 RBC Sees Rates Holding — While Other Major Banks Predict More Cuts
Canada’s biggest banks are offering different takes on where interest rates are headed, and RBC just made the boldest call yet. 📉 What’s the Latest on Interest Rates? As talk of interest rate cuts continues, uncertainty is starting to build. While most major banks still believe more cuts are coming, RBC has changed its tune, […]
🍁Canada’s May Economy in Focus: Inflation Holds at 1.7%, Condo Prices Drop 7%
📊Canada’s Inflation Holds at 1.7% in May Canada’s inflation held steady in May, with the Consumer Price Index (CPI) rising 1.7% year-over-year—matching April’s increase. While some everyday costs are still climbing, others are easing, giving Canadians a bit of breathing room. 🔍 What’s Behind the Numbers? 📈 Inflation Without Energy If you remove energy prices […]
💰73% of Canadians Cutting Back on Spending Ahead of 2025 Mortgage Renewals
Thousands of Canadians are gearing up for their mortgage renewals—and many are already feeling the pressure. With interest rates still far from the record lows we saw before 2022, monthly payments are expected to rise. As a result, homeowners and prospective buyers alike are adjusting their spending habits to stay ahead of the financial hit. […]