Important update that could affect conventional home buyers by June 1st, 2021. OSFI consultation on the stress test Today the Office of the Superintendent of Financial Institutions (OSFI) restarted its consultation on the minimum qualifying rate for uninsured mortgages and re-emphasized the importance of sound mortgage underwriting. The new proposal for the qualifying rate for uninsured […]

A great review of the March Greater Vancouver Home Sales and Listings Market Report by my friends at Dexter Realty. Always insightful and informative… Potential Immigration the wild card in Metro housing market “We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein March housing sales skyrocketed more than […]

As it happens….market update by Dominion Lending’s Chief Economist, Dr. Sherry Cooper Housing Continued to Surge in February Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in February 2021. Canadian home sales increased a whopping 6.6% month-on-month (m-o-m), building on the largest winter housing boom in history. On a […]

The latest from Dr. Sherry Cooper, Chief Economist at Dominion Lending. Easing Restrictions Ignite Canadian Job Market In February This morning, Statistics Canada released the February 2021 Labour Force Survey showing much stronger-than-expected job growth. The early days of the latest easing in COVID restrictions reinvigorated the labour market. Economists were pleasantly surprised by the rapid […]

The full story from Dr. Sherry Cooper, Chief Economist at Dominion Lending.  Bank of Canada Holds Rates and Bond-Buying Steady Much has changed since the Bank of Canada’s last decision on January 20. While the second pandemic wave was raging, new lockdowns were implemented in late 2020, and there were fears that the economy, in […]

A look at January’s performance by Dominion Lending’s Chief Economist Dr. Sherry Cooper. This morning’s Stats Canada release showed that economic growth in the final quarter of last year was a surprisingly strong 9.6% (annualized). The surge in growth in January was even more interesting, estimated at a 0.5% (not annualized) pace. If these numbers pan […]

Expert insight on the rise in interest rates from Dominion Lending’s Chief Economist. Dr. Sherry Cooper Canadian 5-Year Bond Yield Surges In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals […]

Changes in market conditions from Dr. Sherry Cooper, Dominion Lending Centre’s Chief Economist Longer-Term Yields are Rising Despite Central Bank Inaction While central banks hold overnight rates at record lows, anchoring short-term interest rates and the prime rate, mid-to-long-term government yields have been rising since early this month. As the chart below shows, the 5-year […]

From our friends at First National Feb 22, 2021 First National Financial LP Canada’s inflation rate started the year with an increase.  The January, headline rate accelerated to 1.0% annually, up from 0.7% in December. Statistics Canada says the January jump is largely attributed to higher gasoline prices.  The agency says, in general, future increases […]

News & insight on this crazy real estate market from DLC’s Chief Economist Dr. Sherry Cooper. Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in January 2021. Canadian home sales increased 2.0% month-on-month (m-o-m) building on December’s 7.0% gain. On a year-over-year (y-o-y) basis, existing home […]