This week, the lowest nationally-available variable, 2-year fixed and 10-year fixed, are all lower. Once again, borrowers have Nesto to thank. The online lender seems to be on a market share mission as of late.
Of particular interest is Nesto's 10-year fixed at 4.99% for insurable loans
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"Inflation is coming down…. It's going to be 3% this summer, we think."—Bank of Canada's Tiff Macklem
Canada's 5-year yield rose five bps last week, nothing major. Spunky jobs data was the main reason.
Employment reports are backward-looking, however, while markets
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"Inflation should be within that [1-3%] band about three-quarters of the time"
—BoC Governor Tiff Macklem (source)
* Opportunity to reassure borrowers: 77% of mortgagors are "worried" about borrowing costs ballooning at their next mortgage renewal, according to this Angus Reid survey. The number is similar for
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Seems like every economics shop on the Street is talking about real estate's "comeback."
Cases in point...
"A hot job market, robust income growth, rollicking population increases, a tight rental market, some clarity on the rate front—all roads point to revival" in the
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