Latest News Chris Houston 15 Dec
Housing Markets Prepare For A 2024 Rebound Before we get into the details of the November housing market data released this morning by the Canadian Real Estate Association (CREA), big positive news for housing occurred yesterday. The US Federal Reserve gave its clearest signal yet that its historic policy tightening campaign is over by projecting […]
Read MoreLatest News Chris Houston 6 Dec
The Bank of Canada Held Rates Steady and Took A More Neutral Tone It was widely expected that the Bank of Canada would maintain its key policy rate at 5% for the third consecutive time. It will continue to sell government securities (quantitative tightening) to normalize its balance sheet. Market participants weighed and measured each […]
Read MoreLatest News Chris Houston 1 Dec
Jobless Rates Hits 22-Month High–Led by Losses in Finance and Real Estate Employment Today’s StatsCanada Labour Force Survey for November was a mixed bag. Total employment gains were stronger than expected. However, the rising unemployment rate and drop in hours worked were signs of mounting economic weakness, especially in the financial and real estate sectors. […]
Read MoreLatest News Chris Houston 30 Nov
The Table Is Set For Rate Cuts In 2024 The Canadian economy weakened far more than expected in the third quarter, down 1.1% annually. However, the Q2 figures were revised up significantly from a 0.2% decline to a rise of 1.4%. Such are the vagaries of economic data. The Canadian economy is contracting despite the […]
Read MoreGeneral Chris Houston 21 Nov
Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report showed a continued improvement, mainly due to falling year-over-year (y/y) gasoline prices. The October Consumer Price Index (CPI) rose 3.1% y/y, down from the 3.8% rise in September. There were no surprises here, so markets moved little on the news. Excluding […]
Read MoreGeneral Chris Houston 7 Nov
Experts predict lower mortgage rates next week as bond yields plunge Mortgage shoppers and those with upcoming renewals may see some rate relief next week thanks to a steep drop in bond yields. This week alone, the 5-year Government of Canada bond yield slid over 30 basis points to 3.79%. It’s now down more than […]
Read MoreGeneral Chris Houston 3 Nov
Weak October Jobs Report Likely Takes Further BoC Rate Hikes Off The Table Today’s StatsCanada Labour Force Survey for October was weak across the board. Total job gains were meagre, full-time jobs fell, hours worked were flat, wage inflation eased (a bit), and the unemployment rate rose. Employment changed little in October, up only 17,500 (0.1%), […]
Read MoreGeneral Chris Houston 25 Oct
Hawkish Hold By The Bank of Canada The Bank of Canada today held its target for the overnight rate at 5%, as was widely expected. The central bank continues to normalize its balance sheet through quantitative tightening, reducing its Government of Canada bonds holdings. The Monetary Policy Report (MPR) detailed a slowdown in global economic growth […]
Read MoreGeneral Chris Houston 17 Oct
Good News On the Inflation Front Suggests Policy Rates Have Peaked Today’s inflation report for September was considerably better than expected, ending the three-month rise in inflation. Not only did the headline inflation rate fall, but so did the core measures of inflation on a year-over-year basis and a three-month moving average basis. This, in […]
Read MoreGeneral Chris Houston 13 Oct
Increasing Mortgage Rates Weighed Heavily On Housing In September Mortgage rates continued to rise in September after BoC tightening and one of the largest bond selloffs in history. Yields have retraced some of their rise more recently, but demand for new and existing homes has slowed. According to data released by the Canadian Real Estate […]
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