17 Nov

Inflation Surge Is No Need For Hysteria

General

Posted by: Gemma Riley-Laurin

  StatsCanada today reported that consumer price inflation rose to 4.7% from year-ago levels in October, compared to 4.4% in September. This is in line with market expectations and is well below the US’s 6.2% pace reported for the same period. Inflation is rising all over the world, the direct result of extreme weather events […]

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15 Nov

Home Sales Surge in October

General

Posted by: Gemma Riley-Laurin

  Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose a whopping 8.6% in October, its most robust month-over-month pace since July 2020, when the first lockdown eased briefly. This was on the heels of a modest uptick in September–the first gain since March of this year.Sales were up month-over-month in about three-quarters […]

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12 Nov

Renewing Your Mortgage.

General

Posted by: Gemma Riley-Laurin

  Did you know? Close to 70 percent of mortgages never make it to the end of their term! This means that, for a variety of reasons, homeowners are ending their mortgages early. However, that still leaves a solid 30 percent of home buyers who keep their mortgage until the term is up and it […]

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5 Nov

A More Normal Jobs Report In October

General

Posted by: Gemma Riley-Laurin

View this email in your browser   Statistics Canada released the October Labour Force Survey this morning, reporting a slowdown in employment growth from the blockbuster pace of recent months. While some commentators were disappointed in the results, I have a more positive take. Canada returned its pre-pandemic level of employment in September ahead of […]

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21 Oct

Prices are Rising Everywhere–Transitory Can Last A Long Time

General

Posted by: Gemma Riley-Laurin

  Today’s release of the September Consumer Price Index (CPI) for Canada showed year-over-year (y/y) inflation rising from 4.1% in August to 4.4%, its highest level since February 2003. Excluding gasoline, the CPI rose 3.5% y/y last month. The monthly CPI rose 0.2% in September, at the same pace as in the prior month. Month-over-month CPI growth […]

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15 Oct

Canadian Home Prices Continued to Rise As Insufficient Supply Creates Excess Demand

General

Posted by: Gemma Riley-Laurin

  Today the Canadian Real Estate Association (CREA) released statistics showing national existing-home sales rose 0.9% between August and September 2021, posting the first monthly gain since March (see chart below). On a year-over-year (y-o-y) basis, the number of transactions last month was down 17.5%. Nevertheless, it was still the second-highest sales figure ever for the month […]

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9 Oct

Blockbuster September Jobs Report–Further Fuel For Rising Interest Rates

General

Posted by: Gemma Riley-Laurin

An excellent showing for Canadian job growth as the economy rebounded in September with the easing of COVID restrictions. Jobs increased by 157,100, and the jobless rate fell to 6.9% from 7.1%. Blockbuster September Jobs Report–Further Fuel For Rising Interest Rates Statistics Canada released the September Labour Force Survey this morning, providing some unmitigated good […]

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14 Jul

Bank of Canada ‘On the Vanguard’ of Unwinding Stimulus

General

Posted by: Gemma Riley-Laurin

  The Bank of Canada raised its inflation forecast in the newly released July Monetary Policy Report (MPR), making it one of the most hawkish central banks in the world. The Bank announced its third action to reduce its emergency bond-buying stimulus program by one-third. The central bank was among the first from the advanced economies to shift […]

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9 Jun

Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary

General

Posted by: Gemma Riley-Laurin

The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain from raising rates until the damage from the pandemic is fully repaired. The $3 billion weekly pace of bond-buying–known as quantitative […]

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