Canada's mortgage rate market has been deader than a mausoleum. Leading 5-year uninsured rates haven't changed for weeks, and the only nationally-best offer that moved this week was the insured 4-year fixed, up five bps.
Mortgage rates have been in limbo largely because yields are stuck
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When a central bank stops hiking rates, there inevitably come times when they second-guess themselves. Today is going to be one of them.
The real estate numbers that CREA just dropped displayed a resilience that doesn't jibe with 300-425 bps of rate increases and potential recession. BoC governor
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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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The U.S. Federal Reserve gave no indication it was pressing the pause button after Wednesday's 25 bps hike. Instead, it said the next best thing.
"A decision on a pause was not made today," Jerome Powell remarked in his press conference. But "We feel
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