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Wednesday, April 18, 2018   /   by Todd Eves

Breaking News: Bank of Canada makes interest rate announcement

The Bank of Canada is maintaining its trend-setting interest rate as its careful assessment of the timing of future hikes continues amid a backdrop of moderating growth.
The central bank, which kept its rate at 1.25 percent Wednesday, said the slower first-quarter growth of about 1.3 percent was largely a result of housing markets' responses to stricter mortgage rules and sluggish exports. The bank had predicted the economy to expand by 2.5 percent in the first three months of the year.
It's expecting the economy to rebound in the second quarter with 2.5 percent growth, in part because of rising foreign demand, to help Canada expand by two percent for all of 2018. The economy saw three percent growth in 2017.
"Canada's economic growth has moderated, and the economy is operating close to capacity," the bank said in its latest monetary policy report, which was released alongside the rate announcement.
"While a moderation was anticipated, temporary factors ... are resulting in sizable ...

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Friday, April 13, 2018   /   by Todd Eves

Brighter days ahead for spring housing market, despite impact of regulatory changes

New stress test regulations prompt Canadian homebuyers to increase budgets, re-evaluate home features or delay their purchase












Toronto/Kelowna April 10, 2018 // RE/MAX has released its 2018 Spring Market Trends Report, revealing that more than one in four Canadian homebuyers are feeling pinched by the stress test, according to a survey conducted by Leger. However, projections for the spring market show optimism, with most markets expected to remain stable or improve.
The average residential sale price in the Greater Toronto Area dropped to $753,747, down almost 10 percent from $834,144 in January and February of 2017. With move-up buyers driving the market — many of whom are making their second or third transition — alongside a booming condominium market, prices should continue to soften throughout the year. Areas surrounding the GTA, including Brampton and Durham region, continue to be viable options for young f ...

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Friday, April 6, 2018   /   by Todd Eves

Global Economy Downturn Impacts Canadians At Home

Financial Q1 2018 Recap: Global Turmoil & Market Decline





Global Economy Downturn Impacts Canadians At Home
















A Federal Reserve committed to increasing interest rates, trade wars between economic giants starting, and a mixed economic picture at home are all forces which will impact the real estate market and overall economy of southern Ontario.





Federal Reserve staying on course









Recently appointed Governor of the Federal Reserve Jerome Powell has stated in committee in the U.S. Congress that the Fed will continue the path of gradually raising interest rates. The Fed recently raised rates by about 0.25% a week ago, taking the effective rate to 1.68%. While still incredibly low by historical standards, this represents a consistent effort by the Fed to tighten America's money supply.














Bank Of Canada Likely To Follow With Own Rate Hikes





It is li ...

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Monday, March 12, 2018   /   by Todd Eves

February sets record dating back to 1948

Toronto developers had one of their busiest months on record in February in another sign the condo market is alive and well in Canada’s biggest real estate market, even amid a broader slowdown.
Builders began work on 5,677 units during the month, most of them multiple-unit projects like condos, the Canada Mortgage and Housing Corp. said Thursday in Ottawa. That’s the strongest February, and the sixth-highest figure for any month, in records back to 1948.
The bulk of Toronto condo units are typically sold before construction begins, so the latest surge may simply reflect past sales. But the report also suggests developers are betting the condo market will be less affected by headwinds including higher borrowing costs and tighter mortgage qualification rules that are currently hitting Toronto housing.
“It’s probably lagging a little bit. Historically you tend to see supply follow demand,” said Robert Kavcic, an economist at Bank of Montreal. “The ot ...

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Wednesday, March 7, 2018   /   by Todd Eves

Bank of Canada makes interest rate announcement

The Bank of Canada kept its key interest rate target on hold as it pointed to a climate of broadening, important unknowns around trade.


In explaining its decision to maintain its benchmark rate at 1.25 percent, the central bank notes that recent trade policy developments are a key source of uncertainty for the Canadian and global outlooks.


U.S. President Donald Trump recently added threats of steel and aluminum tariffs to an already uncertain context for Canada that includes concerns over NAFTA's renegotiation and competitiveness following tax-cut announcements south of the border.


The Bank of Canada notes fourth-quarter growth was weaker than expected, largely due to higher imports, and that it's still assessing impacts on housing markets from new policies, including mortgage rules.


But it says global growth continues to be solid and broad-based, the economy is running near capacity, inflation is close to target and wage growth has improved, although still remains ...

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