Variable Rate Update: July 2019

Variable Rate Update: July 2019

There is a general consensus among CDN economists is that we can expect a 0.25% rate drop in the next year, which would bring Prime from 3.95% to 3.70%. The US Federal Reserve (the equivalent to our Bank of Canada) has hinted at 2 x 0.25% rate drops in the coming year. The Bank of Canada typically moves in step with the US Federal Reserve.  In this instance, the Bank of Canada is not expected to do two rate decreases, since our projected growth and inflation targets are on pace at 2%.  Add to that strong employment data and an overall slightly optimistic outlook from the CDN business community and it is hard to imagine rates dropping significantly in the next year. Meanwhile… For the...

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Bank of Canada Update – July 2018

Bank of Canada Update – July 2018

You may have seen that the Bank of Canada raised interest rates this week from 1.25% to 1.50%.  Bank Prime is now 3.70% and lenders will be implementing the change in the coming weeks. Please read this summary of what the bank economists are predicting will happen...
Genworth Report: Hamilton Overview

Genworth Report: Hamilton Overview

Take a look at the Sales-to-Listing Ratio and summary provided by Genworth. Here’s what you need to know:  We are moving towards a balanced market, so buyers can expect an easier time over the next couple months. Sellers can expect a longer process, but sales...