MAY’S SOFTER LABOUR MARKET DATA ENDED THE LONGEST RUN OF JOB GAINS SINCE 2017 Ironically, the May Labour Force Survey showed a modest slowdown two days after the Bank of Canada surprised the markets by raising interest rates. Employment was little changed in May, down 17,300, all for youth aged 15 to 24. All other […]

Holy Smokes, The Bank of Canada Means Business If there were any doubt that the Bank of Canada wanted inflation to fall to 2%, it would be obliterated today. In a relatively surprising move, the Bank hiked the overnight policy rate by 25 bps to 4.75%, and an equivalent hike will follow in the prime […]

Bank of Canada has increased their overnight rate by 25 basis points, pushing prime to 6.95%. Although this was partly anticipated by the market, it is the Bank’s first-rate hike since January. The highest rate since April 2001. This move impacts variable rate mortgage holders and those with a Line of Credit of approx. 14 dollars […]

The First Home Savings Account (FHSA) is specifically designed to help first-time homebuyers save for their down payment without having to pay taxes on the interest earned on their savings. This means that the interest earned on the savings in the account is not taxed, nor are withdrawals from the account.  Plus, since your contributions […]

As we enter the halfway point of the year, here is an update of three key points to keep in mind: The Bank of Canada meets next week, and while they may hold, we recommend bracing for another potential hike before the year ends based on inflation numbers. If you are up for renewal or considering […]

We hope this email finds you well. We are writing to remind you that the due date for your property tax payment is fast approaching and is due by July 4, 2023. It is crucial to submit the payment to the designated taxing authority by the due date.  Failing to meet the deadline may result […]

Good News Is Bad News For The Bank Of Canada The Canadian economy continues to show marked resilience to high-interest rates. Statistics Canada released data this morning showing real GDP rose at an above-consensus 3.1% annual rate in the first quarter of this year. The estimate for April growth was also firm, a harbinger of continued strength […]

We were recently invited to speak on the Vancouver Consumer at Global News CKNW 980 to discuss how you can get the best mortgage rate. Whether you are buying a new home, or have had the same mortgage for years! If you have 15 minutes, you can listen to the entire segment in the embedded […]

Canadian Inflation Rose More Than Expected in April, But Core Inflation Slowed There’s been an unexpected hiccup in the Bank of Canada’s ongoing battle against inflation. Year-over-year, price pressures escalated to 4.4% in April, an uptick from the previous month’s 4.3% and significantly exceeding the average economist’s prediction of 4.1%. This marks the first rise in overall […]