š Canadaās Unemployment Rises to 7%: What It Means for Rates and Mortgages
Canadaās unemployment rate climbed to 7% in May, marking the highest level seen since 2016 outside of the pandemic years. According to Statistics Canada, the country added only 8,800 jobs last month ā a small gain that highlights just how weak the job market has become. Since January, thereās been little to no net employment […]
š§ļø Storm Clouds Ahead: TD Warns of Recession and Job Losses as Housing Stalls
š As home sales slide and economic uncertainty grows, TD Bank predicts a rocky road for Canadaās economy. Even with some upbeat signals in the markets, TD Bank is sounding the alarm šØ: Canadaās economy may be heading into a recessionāand fast. In a recent update, the bankās chief economist, Beata Caranci, pointed to a […]
š Canadian Fixed Rates Creeping Up: Global Uncertainty Takes the Wheel
Global ripple effects, investor fears, and U.S. economic uncertainty are pushing Canadian rates back above 4% ā hereās what homeowners need to know. After briefly falling below 4%, most five-year fixed mortgage rates in Canada are back on the rise. Experts say they may stay elevated for a while ā and the reasons have more […]
š Cutting Corners or šāļøCutting Rates? The Canadian Dilemma
If you’ve been keeping an eye on the economic news, you might have noticed things are getting interesting up north. The latest job report for April tells a story that’s more complex than just numbers on a pageāit’s about real people, real jobs, and the ripple effects of global economic tensions. Unemployment has crept up […]
Canadaās Job Market Is Cutting Back..š¬šØš¦ The Marketās ShiftingāThe Smart Move? Stay Informed. Stay Readyš
StatsCanās latest report shows 33,000 jobs vanished in March, pushing the unemployment rate to 6.7%. Itās not the update we wanted, but itās got me thinking: could this push the Bank of Canada to cut interest rates at their April 16 meeting? If youāre considering a home purchase, a mortgage adjustment, or just looking to […]
Snap Election. Inflation Spike. Rate Cuts Coming? Here’s What You Should Know š¬šØš¦
While the Bank of Canada isnāt making any promises, thereās a growing sense that more rate cuts are coming in 2025. After a steady decline in inflation earlier this year, February saw a bumpārising to 2.6% from 1.9% in January. But that jump was expected, and mostly due to the end of the federal sales […]
Tariff-ied Markets?ššØš¦ā BoC Sharpens The Scissors For Rate Cuts
Hey there, Canadian homeowner (or soon-to-be homeowner)! If youāve been keeping an eye on the news lately, you mightāve caught wind of some big changes brewing in the economy. The Bank of Canada is gearing up to slash interest ratesāpotentially a lotāand itās all thanks to a trade storm kicked up by Donald Trumpās new […]
šØš¦šNext weekās potential rate cut is the talk of the town š¬
As Canada closed out 2024, the inflation rate dipped to 1.8% in December, marking its lowest point since early 2021. For many Canadians, this news comes as a hopeful signal that relief might finally be on the horizon in the form of lower borrowing costs. But what does this mean for the average household, and […]
š„š¦Breaking Mortgage News: Government Increases CMHC Mortgage Cap And Expands 30-Year Amortizations
In a significant move aimed at improving homeownership accessibility, Finance Minister Chrystia Freeland announced sweeping changes to Canadaās mortgage rules. These reforms are expected to help more Canadians achieve the dream of homeownership amidst rising housing costs. The changes, which will come into effect this December 15, 2024, represent the most extensive mortgage reforms in […]
Canadian Unemployment Rate Rises, But Positive Economic Trends Point to a Brighter Future
Canadaās unemployment rate experienced a slight uptick last month, reaching 6.6% as the economy continues its gradual rebalancing. However, despite this modest increase, many underlying factors suggest that brighter days are ahead for Canadian workers and the broader economy. According to the latest data from Statistics Canada, the labour market added a net 22,100 jobs […]