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Posted by: Yen Chi (Frank) Feng
Another Strong Jobs Report Tests Bank of Canada’s Patience Canadian employment rose by a whopping 63,800 in September, tripling market expectations. The underlying data put the strong job growth into perspective. Most of the gains in overall employment were in part-time work, and total hours worked declined by 0.2%. Moreover, the unemployment rate held […]
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Here the 8 most common reverse mortgage questions that people in Canada have regarding reverse mortgages: 1. If I have an existing mortgage on the property, can I get a reverse mortgage? Not only is this the most common question regarding reverse mortgages, it is actually one of the most common uses for a reverse […]
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One of the biggest benefits to purchasing your own home is the ability to build equity in your property. This equity can come in handy down the line for refinancing, renovations, or taking out additional loans – such as a second mortgage. What is a SECOND MORTGAGE? First things first, a second mortgage refers […]
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When it comes to furnishing a new home, building from scratch, or simply choosing to redecorate, there are many ways you can go about it. However, one of the first questions a lot of people consider is whether or not to hire an interior designer or do it themselves. As with anything, there are certain […]
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August Inflation Hotter Than Expected Canada’s inflation rate accelerated more than expected for the second consecutive month, mainly driven by higher gasoline prices. This will not be a one-month wonder as gasoline prices rose further in September. The consumer price index increased 4.0% in August from one year ago, the fastest pace since April, after […]
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Home Sales Dipped Once Again Last Month In The Wake of Two Consecutive BoC Rate Hikes Not surprisingly, buyers moved to the sidelines last month as the central bank took the overnight policy rate up to 5.0%. Home sales posted a 4.1% decline between July and August, well below the 10-year moving average shown […]
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With the current interest rates and economic scenarios, many Canadians may be looking for ways to bring in some extra cash. One option is to put your home equity to work by considering renovating your basement into a legal income suite. You can do this by using a secured credit line (home equity line of […]
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Following a marked decline in employment in July, Statistics Canada reported a gain of 40,000 net new jobs in August. Hiring increased in professional, scientific and technical services and construction and declined in educational services and manufacturing. Population growth outpaced the growth in net new employment, depressing the employment rate to 61.9%. The […]
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When it comes to getting a mortgage, one of the more overlooked elements is the option to be able to port the loan down the line. Porting your mortgage is an option within your mortgage agreement, which enables you to move to another property without having to lose your existing interest rate, mortgage balance and […]
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With last Friday’s publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at meeting on September 6, 2023. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%. The Bank of Canada’s press release on September […]
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