Canadian 5-Year Bond Yield Surges In an unprecedented move, bond yields are spiking around the world. Yields globally are now at levels last seen before the coronavirus spread worldwide. At the same time, commodity prices are surging, including energy, metals and minerals, agricultural products and lumber. The Biden administration’s $1.9 trillion stimulus package is has triggered […]

Industry & Market Highlights  The Bank of Canada 5-year Benchmark Qualifying Rate reduced to 4.79% Effective Monday August the 17th, The Bank of Canada Benchmark qualifying rate was reducing from 2.94% to 2.79%.  The impact of the lower qualifying rate on borrower’s purchasing power is small – e.g for an average single family home costing […]

  Industry & Market Highlights  COVID-19 Ontario Announces Regional Approach Reopening Into Stage 2 Ontario will be taking a regional approach to move into Stage 2. As directed by the province, each region will be permitted to enter Stage 2 when safe to do so as public health criteria outlined in the framework are met. […]

Industry & Market Highlights  The Benchmark Qualifying Rate Dropped from 5.04% to 4.94% Announcement on Monday, May 25th from the Bank of Canada that the Benchmark rate dropped from 5.04% to 4.94%.  This means that the average household income purchasing power has increased slightly and that you may qualify for on average $3k to $7k more […]

Industry & Market Highlights  How you are doing after 7 weeks or social distancing and quarantine restrictions due to the COVID-19 pandemic health crisis and the economic crisis?  We will continue to stay positive and take this one day at a time though we are all experiencing some devastating lows.   There are signs of […]

Industry & Market Highlights  Home prices have some support despite sales slowdown – RBC Economics The national market can still provide some impetus for home price growth despite declining sales, according to Royal Bank of Canada Senior Economist Robert Hogue. “Prices are determined by both demand and supply. What we saw in March is that […]

Industry & Market Highlights  Residential Market Commentary – What we know, What we can hope for We have been receiving a lot of unsettling economic data lately. Coming out of February, unemployment stood at 5.6% and nearly 250,000 jobs had been created in the previous 12 months.  By the end of March, nearly a million […]