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Blog by Linda M Linfoot

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Residential Market Update

April 18th, 2019
Anyone who has been watching knows that bond yields are falling and taking fixed rate mortgages with them. The recent economic slowdown in both Canada and the U.S. has pushed down yields on five year government bonds on both sides of the border. Those yields are used as the basis for setting interest rates on fixed mortgages.
An economic indicator known as the yield curve is has been getting ...

Bank of Canada Rate Announcement Oct 24

October 24th, 2018
Bank of Canada raises rates – Prime Rate is now 3.95%

As expected, the Bank of Canada raised its target for the overnight rate to 1.75% today--which inevitably means variable mortgage rates, once again, are on their way up.

Citing a solid global economic outlook, reduced trade policy uncertainty (thanks to the new USMCA deal), as well as a Canadian economy operating close to potential, the Ba ...

Bank of Canada Announcement Sept 2018

September 6th, 2018
The Bank of Canada is keeping interest rates the same—for now.

While CPI inflation is on the high side (sitting at 3%, a point above the Bank’s target of 2%), the Bank of Canada decided to maintain the target for its overnight rate at 1.5% in its September announcement. The reason? It believes the high CPI rate is temporary—brought on by a jump in the airfare component of the consumer price i ...

The Housing Market Shift

August 27th, 2018
The housing market shift that is supposed to be led by empty-nest Baby Boomers has been slow to arrive. But a new survey from realtor, Royal Lepage, suggests it is coming. Although it might not be as dramatic as forecast.
The Boomer Trends Survey suggests as many as 1.4 million Boomers (those born between 1946 and 1964) will be in the market, buying and selling, over the next five years. That ...

Bank of Canada Rate Announcement

April 18th, 2018
Overnight rate stands at 1.25%

It seems variable mortgage rates will be standing pat, for now, as the Bank of Canada announced today it will be keeping the target for the overnight rate as-is, at 1.25%.

The reason for the non-move, according to the Bank, is that inflation is still within the safe zone, sitting at 2%. Additionally, while the outlook for the global economy and, more specificall ...

Be Stress-Test Ready

April 12th, 2018
With the new Office of the Superintendent of Financial Institutions stress test rules firmly in place since January, Canadian homebuyers have learned they need to arm themselves with practical information on how they can ensure they are “stress-test ready”.

The following is a guide and best practices tool kit for those about to embark on securing their new or next mortgage:

Make a financial p ...

Why Do People want to Buy a Home

April 3rd, 2018
Why do people want to buy a home?
Most of us figure we know the answer. But Canada Mortgage and Housing Corporation decided it would try to find out for sure.
The housing agency did an online survey late last year. It culled out a modest 2507 responses which it broke into three categories: first time buyers; current owners; and previous owners (those who used to own, but do not right now). Al ...

Bank Of Canada Benchmark Rate remains

December 8th, 2017
The Bank of Canada benchmark rate is used for qualifying High Ratio mortgages. Today, this rate is 4.99%.

The Bank of Canada has decided to keep its benchmark lending rate steady at one per cent, pausing after two small hikes earlier this year.
Canada's central bank said Wednesday it has decided to keep its target for the overnight rate right where it is, while rate hikes in July and in Septe ...

Bank of Canada silence bolsters expectation of October rate hike

August 1st, 2017
OTTAWA -- With no public speeches scheduled before its September interest rate decision, the Bank of Canada has signalled it is comfortable with market expectations that a rate hike won't happen until October at the earliest, analysts said on Monday.

The central bank's July rate hike, the first in seven years, was preceded by a flurry of speeches and interviews by top officials that dramatica ...

Residential Market Commentary

May 22nd, 2017
Moody’s credit rating service managed to get everyone’s attention last week when it downgraded all six of Canada’s big banks. The move triggered fresh fears that the country has a housing bubble and it is about to burst. But what does it amount to? For the banks, not much. For the rest of the economy, and in particular housing, it is being seen as a warning.

Many market watchers are calling t ...
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