Mortgage Rates Can Change In an Instant
If you’ve been paying attention to mortgage rates lately, you might be wondering what on earth is going on. Mortgage rates appeared to be heading back toward the low 6s before abruptly shifting back toward 7%. It all took place in the span of a day or two, compounding the matter further. In fact, Monday […]
Canada’s GDP contracts in February, with more headwinds ahead
Canada’s real GDP fell 0.2% in February, down from a 0.4% gain in January and coming in slightly below economists’ expectations. Twelve of the 20 industry sectors posted declines in February, according to Statistics Canada. In a reversal from January, goods-producing industries led the contraction with a 0.6% drop, driven largely by mining, quarrying, oil […]
Where Would Mortgage Rates Be Without Liberation Day?
In case you haven’t heard, the tariffs levied against China are now 145%. Yes, you read that right. Not the 125% you may have heard about yesterday because the math apparently left out an additional 20% increase. Oops! They’re now well above the prior 104% tariff rate, and the 84% originally in place. When you […]
Metro Vancouver housing figures underscore massive gap in affordable units
By Brenna Owen Jill Atkey said the region’s housing needs report shows Metro Vancouver needs 11,400 new affordable rental homes each year. That’s a steep increase from an average of 433 between 2018 and 2023. At the provincial level, Atkey said her group has projected B.C. needs 12,500 affordable homes each year, while the government […]
Mortgage Rates Back Below 7%, But Don’t Expect Any Huge Moves Lower
The mortgage rate whirlwind continues as we start another week. This time, rates are back below 7% (just barely), though it’s little consolation considering where they were just 10 days ago. If you recall, the 30-year fixed was close to 6.5%, which felt pretty decent at the time, especially since we had what felt like […]
Liberal election win: What it means for Canada’s policies and economy
With 168 seats—just shy of the 172 needed for a majority—the party will once again rely on support from the NDP or Bloc Québécois to advance its agenda. While the result maintains the status quo in terms of party balance, the change in leadership is expected to bring notable shifts in fiscal and housing policy. […]
What Happens to Mortgage Rates If Powell Gets Fired?
There’s growing talk about Fed Chair Jerome Powell being fired by President Donald Trump. Similar to his first term, he has lobbed insults at Powell while arguing that the Fed should lower rates. But would doing so actually lead to lower mortgage rates? Or would it simply make matters worse? It’s important to note that […]
Markets see additional Bank of Canada rate cuts as economy slows, survey shows
Respondents see the BoC’s policy rate falling from 2.75% currently to 2.25% by the end of 2025, suggesting two additional 25-basis-point cuts in the months ahead. The median forecast calls for the first cut to come by June, with rates drifting lower in the second half of the year. The market’s median call for two […]
How Will Mortgage Rates React to the End of the Trade War?
Is it too soon to be talking about the end of the trade war? Perhaps, but there have been rumblings of a closed-door meeting to get a deal done, along with a softer stance from President Trump. The man who tends to get bond yields to calm down, Treasury Secretary Scott Bessent, was a speaker […]
Scotiabank now sees three Bank of Canada rate cuts in 2026
The updated outlook marks a departure from Scotiabank’s long-standing view that the BoC had already reached its terminal rate and would remain on hold at 2.75% throughout its forecast horizon. In a new report, Scotiabank’s economists say the outlook for growth is dimming quickly, thanks in large part to a “dramatic escalation of America’s war […]