The latest Statistics Canada inflation numbers have given some market watchers hope that the Bank of Canada will slow or, perhaps, even pause interest rate increases. The Consumer Price Index, or “headline inflation”, held steady from September to October at 6.9% on a year-over-year basis.  Lower food price inflation off-set higher gasoline prices.  Another welcome […]

The news on the economy, inflation and the future of interest rates has been mixed over the past week or so.  Most of the recent analysis has centered on employment. Market watchers were surprised by the latest job numbers which shot up by 108,000 in October.  The unemployment rate did not move however, holding at […]

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 […]

Since interest rates started climbing back in March there has been a lot said about declining home prices in Canada.  Broadly speaking, market watchers have been forecasting a 20% to 25% drop – from the February peak – in the average price by the end of this year. Those are dramatic numbers, but they are […]

Not all insurance products are created equal. One of the most common mistakes homeowners and potential homeowners make is that they hear the word “insurance” and just assume they have it! Well, you might have one kind of insurance, but you might be missing coverage elsewhere. It is important to understand all the different insurance […]

Home sales in Canada declined for a sixth straight month in August according to the latest report from the Canadian Real Estate Association.  Compared to July the number of properties changing hands dipped by a modest 1.0%, the smallest drop so far.  Year-over-year, sales are down 24.7%. Home prices also continue to slip.  The national […]

Today, the Bank of Canada increased its overnight benchmark interest rate 75 basis point to 3.25% from 2.50% in July. This is the fifth time this year that the Bank has tightened money supply to combat inflation. While the latest increase was comparatively smaller than the move made in July (100 basis points), it is […]

If you lost your job tomorrow, would there be a list in your head right away of things you could do to hang on or would you just be at a complete loss? Financial knowledge will allow you to better assess your options and create a plan without getting overwhelmed. However, even with the best […]

The worst financial mistake you can make is believing that a Registered Retirement Savings Plan (RRSP) or Tax-Free Savings Account (TFSA) is something to look into when you are a little older and more able to set some money aside. The fact is, you don’t use these accounts for saving at all, you use them […]

The current situation in the Canadian housing market has both buyers and sellers stepping to the sidelines.  But underneath all of the recent shuffling there still seems to be a firm, foundational desire to own a home. The annual affordability survey conducted by RE/MAX suggests rising interest rates have become a significant, growing concern for […]