Latest News Kim Stenberg 16 Nov
Bank of Canada Will Not Be Happy With This Inflation Report Not only did the headline CPI inflation rate stall at 6.9% last month, but the core CPI numbers remain stubbornly high. Food inflation–a highly visible component–edged down slightly. Still, prices for food purchased from stores (+11.0%) continued to increase faster year over year than […]
Read MoreLatest News Kim Stenberg 15 Nov
Statistics released today by the Canadian Real Estate Association (CREA) show home sales were up 1.3% on a month-over-month basis in October. Still, monthly activity remained a whopping 36% below the October pace in 2021. The housing correction continues in response to the Bank of Canada’s massive rate hikes, but the speed of the correction […]
Read MoreLatest News Kim Stenberg 4 Nov
Today’s Labour Force Survey for October was surprisingly strong, boosting wage inflation to an eye-popping 5.6% year-over-year pace. While good news for the economy, this is terrible news for the inflation fight–just when the Bank of Canada eased its foot on the brakes. The two-year and five-year Government of Canada bond yields spiked on the […]
Read MoreLatest News Kim Stenberg 26 Oct
The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 50 basis points today to 3.75% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure […]
Read MoreLatest News Kim Stenberg 14 Oct
There are many unusual aspects to the current housing correction, but fundamentally the most noteworthy is how orderly and non-chaotic it has been. Home sales have slowed, but so have new listings, so the price declines are more muted than we might have expected. This is not a housing collapse. It is a housing correction. […]
Read MoreLatest News Kim Stenberg 11 Oct
Today’s Labour Force Survey showed that employment grew in September for the first time in four months. Job gains remained moderate despite the high number of vacancies, indicating how tight the job market remains. Wage rates rose 5.2% year-over-year (y/y), the fourth consecutive month for which wage gains exceeded 5%. The jobless rate ticked downward, […]
Read MoreGeneral Kim Stenberg 29 Sep
One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a second mortgage? First things first, a second mortgage refers to […]
Read MoreLatest News Kim Stenberg 20 Sep
Canada’s headline inflation rate cooled again in August, even a bit more than expected. The consumer price index rose 7.0% from a year ago, down from 7.6% in July and a forty-year high of 8.1% in June, mainly on the back of lower gasoline prices. The CPI fell 0.3% in August, the most significant monthly decline since the […]
Read MoreLatest News Kim Stenberg 19 Sep
The Governing Council of the Bank of Canada raised its target for the overnight policy rate by 75 basis points to 3.25% and signalled that the policy rate would rise further. The Bank is also continuing its policy of quantitative tightening (QT), reducing its holdings of Government of Canada bonds, which puts additional upward pressure […]
Read MoreLatest News Kim Stenberg 11 Aug
It was widely expected that US consumer price inflation would decelerate in July, reflecting the decline in energy prices that peaked in early June. The US CPI was unchanged last month following its 1.3% spike in June. This reduced the year-over-year inflation rate to 8.5% from a four-decade high of 9.1%. Oil prices have fallen […]
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