Mortgage Market Minute

December 2024

November 2024

November 13, 2024 sometimes forecasts do come true ….
November 27, 2024 sfixed rates can protect against the coming volatility in the marketplace

October 16, 2024 have fixed rates hit bottom for the forseeable future?
October 9, 2024 rates bounce as middle east tension drives up oil prices and insured refinances making a limited return

September 25, 2025 default mortgage insurance price cap increases to $1.5 million effective Dec 15
September 4, 2024 the question is how fast will the Bank of Canada drop rates this fall?

August 7, 2024 Let’s look at the new 30 year amortization option
August 21, 2024 new inflation numbers pushes the door wide open for future mortgage rate reductions!

July 31, 2024 the future rate environment is looking very good - don’t wait for home pricing to increase with anticipated growing demand.
July 24, 2024 - “Tricky Tiff” did not disappoint which is good news for variable rate mortgage holders.
July 10, 2024 - latest forecasted rate chart shows quicker projected reductions in fixed rates

May 22, 2024 - stats continue to trend lower - fixed mortgage rates soon to follow!
May 15, 2024 - Buying sooner is almost always better than waiting to save more.
May 8, 2024 - Expected BoC policy rate drops doesn’t mean variable is the right option

April 17, 2024 - Don’t wait to purchase this spring!
April 10, 2024 - Are 30 yr mortgages coming back for minimum down payment borrowers?
April 3, 2024 - More businesses are expecting inflation under 3% than over - a trend reversal and positive news for those expecting lower Primes rates by summer.

March 27, 2024 - The uber-conservative central bank of Switzerland just broke ranks and reduced its policy rate by 0.25%. Could this be the start of global easing in rates?
March 20, 2024 - StatCan reports lower than expected inflation numbers, raising expectations for lower rates in early summer 2024.
March 13, 2024 - Federal government announces that the First Time Home Buyer Incentive (FTHBI) program is being cancelled - it never really was much to begin with.
March 6, 2024 - 56% of potential home purchasers have paused their buying plans due to interest rates. That is a lot of pent up demand waiting in the wings.

February 28, 2024 - No email this week - I’m walking in sunshine and white sand.
February 21, 2024 - January CPI is down and a BMO report suggests we need 500,000 home completions this year to meet demand. We have never exceeded more than 250,000 in a year.
February 14, 2024 - Strength in the US economy is starting to impact perceptions in Canada, which would push any rate reductions later into 2024.
February 7, 2024 - While changes in interest rates is rarely linear, we continue to forecast reductions starting summer 2024.

January 31, 2024 - BMO returns to the Broker Channel, meaning Brokers now have access to 3 of the 4 top banks in Canada.
January 24, 2024 - Bank of Canada’s Monetary Policy Report shows Shelter (housing - rent and mortgage) Costs still a major contributor to inflation in Canada.
January 19, 2024 - Jim launches the Mid-Week Mortgage Market email looking at rate trends, forecasts and other items impacting the mortgage marketplace.