General Mark Goode 29 Oct
Bank of Canada Will Stop Buying Canada Mortgage Bonds This Wednesday, the Bank of Canada will release its interest rate announcement and the October Monetary Policy Report. Most people expect the overnight rate to remain at 0.25%, where it has been since the pandemic hit. A few have suggested that the Bank could take a page from […]
Read MoreLatest News Mark Goode 19 Oct
Canadian Home Sales and Prices Set Another Record High in September Today’s release of September housing data by the Canadian Real Estate Association (CREA) shows national home sales rose 0.9% on a month-over-month (m-o-m) (see chart below). This continues the rebound in housing that began five months ago amid record-tight market conditions. “Along with historic […]
Read MoreLatest News Mark Goode 14 Oct
Canada Has Recouped Three-Quarters Of Pandemic Job Losses The September Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions during the week of September 13 to 19, six months after the onset of the COVID-19 economic shutdown. As Canadian families adapted to new back-to-school routines at the beginning of September, public health restrictions […]
Read MoreGeneral Mark Goode 16 Sep
CANADIAN HOUSING MARKET SETS RECORD HIGHS IN AUGUST Today’s release of August housing data by the Canadian Real Estate Association (CREA) showed a blockbuster August with both sales and new listings hitting their highest levels in 40 years of data–exceeding the record July activity levels. This continues the rebound in housing that began four months ago. […]
Read MoreLatest News Mark Goode 9 Sep
BANK OF CANADA RELIES ON QUANTITATIVE EASING As promised, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will rely on large-scale asset purchases–quantitative easing (QE–of at least $5 billion per […]
Read MoreLatest News Mark Goode 4 Sep
Canada Has Recouped Two-Thirds Of Pandemic Job Losses The August Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions as of the week of August 9 to 15, five months after the onset of the COVID-19 economic shutdown. By mid-August, public health restrictions had substantially eased across the country and more businesses and […]
Read MoreGeneral Mark Goode 3 Sep
Effective Monday August 31, #MortgageManDLC will be open for both scheduled AND walk-in appointments. All incoming clients will be subject to COVID-19 screening questions and face masks continue to be mandatory for ALL who enter our office. Please note the following: IF YOU NEED TO SPEAK TO US ABOUT YOUR MORTGAGE: Please call 705-326-8523, OR […]
Read MoreLatest News Mark Goode 28 Aug
Canadian Economy Took a Record Nosedive in Q2 Canadian real GDP plunged 11.5% in the second quarter, or -38.7% at an annualized rate, the worst quarterly decline on record (see chart below). This followed an 8.2% plunge in Q1. The worst of the contraction occurred early in the quarter as the lockdown in March and […]
Read MoreGeneral Mark Goode 18 Aug
Canadian Housing Market Very Strong in July Today’s release of July housing data by the Canadian Real Estate Association (CREA) showed a blockbuster July with both sales and new listings hitting their highest levels in 40 years of data. This continues the rebound in housing that began three months ago. National home sales rose 26% […]
Read MoreGeneral Mark Goode 13 Aug
Pandemic Triggers Red-Hot Summer Housing Market We will get the full story on July housing in Canada when the Canadian Real Estate Association releases its July data in the next few days, but local real estate boards have reported a robust July market. Even in Calgary, year-over-year sales have jumped by double digits. Sales in […]
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