Another Weak Labour Market Report For October Employment fell again in October, continuing a stream of lacklustre labour force surveys. Canadian net employment edged downward (-4,700; 0.0%) and the employment rate fell a tick to 60.5%. Employment declined by 68,000 in September and by 42,000 in August. The employment rate—the percentage of the population aged 15 years and older who are employed—decreased 0.1 percentage […]
Overall, the budget contains several encouraging measures aimed at improving housing supply, mortgage financing flexibility and affordability. While much of the government’s housing investment will take time to translate into actual home purchases, there are some important developments for our industry. Key highlights: Expanded mortgage insurance: The government proposes increasing the property value limit for optional mortgage insurance from […]
Bank of Canada Raises the Overnight Rate to 2.5%, Says More May Be Needed Today, the Bank of Canada raised the overnight rate by 25 bps to 2.5%, joining the six other G-10 central banks that have tightened monetary policy to combat inflation. The Federal Reserve hiked the fed funds rate at its last meeting and is expected to hike […]
Canadian CPI Inflation Edges Up to 3.1% in September, While Core Inflation Slowed Further Below Its 2% Target The Consumer Price Index (CPI) rose 3.1% year over year in September, up from 3.0% in August. Higher gasoline prices led the acceleration in September (+27.8%) compared with August (+22.8%). Excluding gasoline, the CPI rose 2.2%, after increasing 2.4% in August. Moderating the acceleration in […]
Rising-Rate Jitters Sidelined Buyers in September, Tempering Sales For The Remainder Of This Year The number of home sales recorded over the Canadian MLS Systems fell by 2.3% m/m in September as inflation fears triggered the biggest bond selloff in years. Rising fixed mortgage rates have spooked potential buyers, even as home prices continue to fall. “After a four-month run […]