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Regardless of your political leanings or stance on the ever-delicate immigration and housing debate, it's hard not to have a soft spot for Canada's new Housing Minister, Sean Fraser. Ambitious, affable, and apparently not just in it for the office decor, he sat down with us on Monday.
The agenda? A trifecta of probing questions, including:
1. Will Canada put the brakes on immigration, or is housing construction in a perpetual game of catch-up?
2. Is the government merely wringing its hands...
Regardless of your political leanings or stance on the ever-delicate immigration and housing debate, it's hard not to have a soft spot for Canada's new Housing Minister, Sean Fraser. Ambitious, affable, and apparently not just in it for the office decor, he sat down with us on Monday.
The agenda? A trifecta of probing questions, including:
Will Canada put the brakes on immigration, or is housing construction in a perpetual game of catch-up?
Is the government merely wringing its hands over middle-class homebuyers, or is there a plan in the works to help them?
Just how deep are taxpayers' pockets when it comes to "solving" the housing crisis?
For those seeking answers straight from the Minister's mouth, check out MLN's exclusive video interview that follows.
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You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
Interest rate commentators have long relied on overnight index swaps (#OIS#) and forward markets to crystal ball rate direction. Now, with CORRA elbowing CDOR aside as Canada's financial benchmark rate, some of those forecasting tools are going the way of the floppy disk.
That's led MLN on a hunt for a more effective rate indicator, and we recently found one in the brand new CORRA forecast curve.
Published exclusively by CanDeal DNA, the leading provider of valuations for Canada's fixed-inco...
Interest rate commentators have long relied on overnight index swaps (#OIS#) and forward markets to crystal ball rate direction. Now, with CORRA elbowing CDOR aside as Canada's financial benchmark rate, some of those forecasting tools are going the way of the floppy disk.
That's led MLN on a hunt for a more effective rate indicator, and we recently found one in the brand new CORRA forecast curve.
Published exclusively by CanDeal DNA, the leading provider of valuations for Canada's fixed-income market, the CORRA forecast curve reflects bets from institutional traders on where the Bank of Canada will take its key lending rate over the next five years. It'll be the basis for MortgageLogic.news' weekly long-range outlooks, as well as the default rates in MLN's exclusive amortization simulator.
Despite the massive variability in any market rate forecast beyond 6-12 months, this new tool should improve forecast accuracy and get better over time (as liquidity builds in its underlying derivatives).
For MLN subscribers, it's a secret sauce for cooking up more realistic hypothetical mortgage scenarios, without the usual dash of wishful thinking.
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Pro Tip: Borrowers should understand (and be told) that market-implied rate forecasts are helpful only as a baseline possibility for what might transpire with rates—based on the market's best current analysis of macroeconomic factors. Scenario planning should therefore include "best and worst" scenarios (e.g., by adding/subtracting 100 to 200 bps to market rate forecasts, assuming higher rates for longer/shorter, etc.).
Here's why the CORRA forecast is a step up from prior projection tools and what it's forecasting now.
Why the CORRA forecast curve
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As pundits debate whether the economy will glide in like a feather on a gentle breeze or plummet like Canadians' savings balances, Moody's threw markets a curveball Tuesday.
The ratings agency downgraded a slew of U.S. mid-size banks. Its reasons included rising funding costs, tightened lending, declining earnings, interest rate risk, potential regulatory capital constraints, commercial real estate exposure, collateral risk, and deposit risk—take your pick.
This is the latest misfortune for...
As pundits debate whether the economy will glide in like a feather on a gentle breeze or plummet like Canadians' savings balances, Moody's threw markets a curveball Tuesday.
The ratings agency downgraded a slew of U.S. mid-size banks. Its reasons included rising funding costs, tightened lending, declining earnings, interest rate risk, potential regulatory capital constraints, commercial real estate exposure, collateral risk, and deposit risk—take your pick.
This is the latest misfortune for non-money center banks, who've taken it on the chin. But what does this financial wrinkle have to do with Canadian mortgage rates?
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