Economic Insights.

Dr. Cooper is Dominion Lending Centre's Chief Economist who helps Canadians understand the issues surrounding their most important financial decision – buying a home.

Canadian Inflation increased to 2.0% y/y in October–up from 1.6% in September owing to a smaller decline in gasoline prices.

November 19, 2024

October Inflation Rose to 2.0% As Gasoline Price Declines Were More Muted The Consumer Price Index (CPI) rose 2.0% year-over-year in October, up from a 1.6% increase in September. Gasoline prices fell to a lesser extent in October (-4.0%) compared with September (-10.7%). The all-items CPI, excluding gasoline, rose 2.2% in October, the same growth rate as in August and September The […]

Canadian Home Sales Surge in October Led by the GVA and GTA

November 15, 2024

The Canadian Housing Market Shows Signs of Life Canadian home sales surged to their highest level in more than two years as the Bank of Canada cut interest rates, bringing buyers back into the market. Home sales rose 7.7% month-over-month (m/m) in October, reaching their highest level since April 2022. Rising home sales were broadly based, with the Greater Toronto […]

Canadian Weak Job Gains in October Keeps Jumbo Rate Cut In Play

November 8, 2024

Weaker-Than-Expected October Jobs Report Keeps Jumbo Rate Cut In-Play in December Statistics Canada released October employment data today. The data showed a marked slowdown in job growth, underscoring ongoing labour-market softness that triggered a jumbo rate cut last month. Statistics Canada said the country added 14,500 positions in October, which missed the median expectation of a 27,200 rise in a Bloomberg survey of economists. […]

Jumbo Rate Cut by the Bank of Canada

October 23, 2024

Bank of Canada Cuts Policy Rate By 50 BPS After three consecutive 25 bp rate cuts, the BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.75%. The market had priced in 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and back-to-back weak inflation reports solidified the calls for […]

Home sales have trended up since rate cuts began, but new listings have risen faster

October 15, 2024

Canadian Housing Market Stuck In A Holding Pattern Following the Bank of Canada’s third interest rate cut of the year, national home sales increased slightly in September compared to August. This follows a similar pattern of gains recorded in the months following the first two rate cuts. Home sales recorded over Canadian MLS® Systems climbed 1.9% month-over-month in September 2024, […]