As the crisp fall air produces a dusting of snow on the mountains, there is a sense of hope that we could be in store for a fantastic ski season. The same sense of hope was reaffirmed today by the Bank of Canada as they took another pause on interest rate hikes. Today’s press release was a precisely balanced piece of prose that hinted at things getting better but warned that Governor Tiff still has his finger on the trigger to raise rates if needed. Here is a quick summary of what he said about today’s decision and what the future holds... 

Welcome back!  I trust you had a wonderful summer and managed to fit in some quality play time! To help ease the transition from a playful summer to a busy fall, the Bank of Canada Governor Tiff Macklem decided not to increase the prime rate today! That’s welcomed news for those parents who just finished running the consumer gauntlet of getting their kids ready for school! So the big question now hanging out there – is Tiff done?!  The verdict from the economists? A resounding…maybe. (Keep in mind that if you lay all the world’s... 

The Bank of Canada ( BOC ) Governor Tiff Mackelm ( Tiff ) raised the lending rate by 25bps today, making prime 7.20% at most of the major lenders, a level not seen since 2001.   We are now on the 10th rate increase since March 2022, and Canadians are beginning to feel that maybe the light at the end of the tunnel is actually a freight train hurtling toward them.   When will inflation die off, and Tiff get to stand one foot on his slayed opponent, chest out, head high and proud? According to our esteemed Governor, the dawn of an inflation free... 

Today, the Bank of Canada (BOC) Governor, Tiff Macklem, decided to raise the prime rate by 25 basis points, and it’s making waves. With little economic data to back it up, Governor Tiff took the plunge, claiming a strong first quarter, especially in the service sector and housing. It seems he’s not ready to call it quits just yet. It’s surprising that he feels this way given that globally consumer price inflation is slowing, growth has stalled in Europe, China is showing signs of slowing and energy prices are coming down. It almost... 

The Bank of Canada (BOC ) held the prime rate steady today. As if inspired by spring, Governor Tiff proved himself a true economist by giving a press release filled with comments of sunshine and rain. Though Tiff kept the prime rate the same, he promised to continue to squeeze the economy via quantitative tightening. His reason being that inflation is not quite back in the box it came from, but there are enough signs that it won’t be long now before things are under control. So where are the rate cuts Nishka?!  They’re... 

The Bank of Canada ( BOC ) gave us a glimpse of a brighter future by not increasing the prime rate today. Finally! The general theme of the press release was that things are developing as expected, with Governor Tiff anticipating an inflation rate of 3% by mid summer of 2023. Though the news is exciting, many “if’s” and “but’s” were sprinkled throughout the press release. For now, we’ll take the win and look to brighter skies of the coming spring.

If you’re considering growing your real estate holdings, you should think small, as in square footage. Why? Because the change in the Strata Properties Act in November of 2022 has created a unique opportunity for investors in the North Vancouver condo market. And in my opinion, this opportunity is being overlooked…for now.

Happy New Year(s)! In this first post of 2023, I’d like to wish you all a wonderful year! I know 2022 was stressful for some, but reading between the lines of today’s Bank of Canada press release, it looks like sunnier times are ahead. On that note, let’s jump into today’s mortgage rate update.

As we bring 2022 to a close, the Bank of Canada (BOC) Governor Tiff Macklem (Tiff) increased the prime rate by 0.5% to ensure we get the message to go easy on the spending this Christmas. However, he did elude to some boxing day specials, which I’ll cover in my post today. Before I jump into today’s commentary, I’d just like to say again that my goal with these updates is to take an incredibly dry press release and make it informative, relatable and somewhat entertaining – hence the sometimes colourful analogies. Economics... 

Today Governor Tiff Macklem (Tiff) of the Bank of Canada (BOC) surprised Canadians with “only” a 50bps (0.5 percent) rate increase. Given last week’s inflation figures and ensuing media frenzy, the world was expecting a 75bps increase, if not a 100 bps hike. It’s “interesting” to note that we’ve come to think of 50bps as having dodged a bullet!

With today’s Bank of Canada ( BOC ) decision to raise rates by 75bps, Governor Tiff Macklem affirmed his belief that we are not yet out of the inflationary woods. In fact, the final paragraph of the press release uses language to suggest we might need one more increase. So the question is when will Governor Tiff see the light at the end of the tunnel?

The Bank of Canada (BOC) made the preemptive/scorched earth decision to raise the prime interest rates today by 1%.  Combined with the continued decrease in your RRSP / TFSA portfolios, and it would seem this summer will be remembered more as a cold dark winter.

The Bank of Canada ( BOC ) governor Tiff Macklem ( Tiff ) surprised the market today with a 0.5% rate increase to the bank’s prime rate. Though the markets had somewhat expected it, there was a sense of hope that “we” might get a 0.25% tap on the brakes instead. To keep us on all the edge of our seats, Tiff finished his announcement with some stern words, saying he is “prepared to act more forcefully if needed.” …cue scene from a classic B Movie with people running, holding their heads and screaming in utter... 

During today’s policy meeting, Governor Tiff Macklem of the Bank of Canada decided to increase the prime rate by 0.5% versus the usual 0.25%.  A rate increase of 50bps ( 0.5% ) hasn’t been done since Y2K / Dot Com bubble, which raises the question; are we heading down the road to double-digit inflation? The short answer is no, and in this post, I’ll explain why. The reason Central Bankers raise rates is to curb inflation and keep the economy from growing too fast.  So a jump of 50bps must surely mean that the economy is growing... 

As expected the Bank of Canada didn’t change the prime rate today. To sum up the Governors statement in a few words, we aren’t out of the woods yet.   Governor Tiff reassured the markets that he will continue the bond buy back program and reaffirmed that the prime rate will remain as is until there are clear signs we are back on track.  Tiff further added that he expects we’ll see some inflation spikes, however, things will settle down to the normal range of 2 percent shortly after.  It will be interesting... 

The prime lending rate was left unchanged today, however, the bond buyback program was trimmed back to $3 billion per week, a sign that the recovery is on the horizon. The key takeaway from Governor Tiff Macklem cautiously optimistic press statement is that he will be keeping the money taps open until he gets full confirmation that the economy is back on track.  It seems that the Governor is firmly aware that history favours those who are generous with money vs stingy…it’s the reason The Christmas Carol is a classic. So if the Governor... 

The Bank of Canada ( BOC ) left the prime rate unchanged today and maintained their stance that they will keep the prime rate at this level until there are clear signs that we are well on the way to recovery. To ensure we got the message, Governor Tiff also reaffirmed that the $4 billion per week bond buy back program will be going strong with no plans to stop until the coast is clear. So the question is, if the Governor is still pumping so much money into the economy, why are fixed rates going up? Scroll down to find out what’s going... 

An economy interrupted. That was the theme of the Bank of Canada (BOC) message today as the Governor kept the prime lending rate as is and gave the markets the crystal clear guidance that it will continue to provide extraordinary fiscal stimulus to keep the economy afloat. With the BOC still buying up government bonds at a rate of $4 billion a week, the bond market is being provided with the fuel to ensure interest rates stay low, providing consumers with the confidence to keep spending. Meanwhile, looming on the horizon is the fact that the... 

With no fanfare nor surprise, the Bank of Canada (BOC) left the prime lending as is. Tiff Macklem, the BOC governor, also restated his intent to keep the prime lending rate virtually unchanged until 2023. So with Tiff dropping $4 billion (with a B) a week into the bond market, one begins to wonder: at what point do we stop spending our way out of this situation, what is the future cost of all this stimulus and what will the long term impact be on interest rates. In the words of the Great One, you need to skate to where the puck is going…... 

Our freshly “minted” Bank of Canada (BOC) Governor, Tiff Macklem, had his first press release today, and as expected, he left the prime rate unchanged.  The first press release from a new BOC Governor is always an exciting thing ( really it is! ) because it gives you a hint of what their leadership will be like, and how transparent they will be about their economic game plan. After reading today’s press release, I can tell you that we are dealing with a very “cards on the table” type of leader – which is... 

On his last day in the office, the Bank of Canada Governor Stephen Poloz left without much fanfare and maintained the current prime lending rate. Keep in mind that the prime rate is not the only fuel to provide thrust to this stalling economy. Like a scene from The Fast and The Furious, it’s the famous “Red NOS” button that, when pressed, launches our hero across the finish line to victory. For the Governor, the magic “red button” is the bond buyback program. In today’s press release, the Governor had mentioned... 

The Bank of Canada left rates unchanged today, but the real news of the day was the announcement of a new credit facility allowing the BOC to step into the treasury market and start buying provincial and corporate bonds. This is great news since this section of the bond market has experienced a significant spike in the cost of credit while the government of Canada bonds have been at all-time lows. The good news is this will free up the credit log jam and translate into cheaper mortgage rates in the next 7 to 14 days. And the opportunities that... 

Warning! This is a long post! It was requested by quite a few people who read our Facebook Post talking about fixed rates increasing. I’ve tried my best to simplify a highly technical subject/situation into something relevant AND interesting. For those of you with finance backgrounds – I know, I know … there are some gaps. For the rest, I hope you enjoy it. This was actually one of the toughest pieces I’ve had to write! It’s April 5th, 2020 and as I write this post the... 

In response to the spread of the COVID virus, the Bank of Canada (BOC) dropped the prime rate by 0.5 percent today.  Though today’s rate cut was an aggressive move, the key message from today’s BOC news release is the rate decrease is an attempt to provide confidence and economic stimulus in anticipation of a potential slow down caused by supply chain disruption.    Prior to the spread of the virus, the Canadian economy was actually gaining traction with some healthy figures coming in on the wage growth and inflation front. ... 

The prime lending rate was left unchanged today by the Bank of Canada (BOC), which is not a shocker as I’m sure the Vegas odds are higher that Trudeau will embarrass himself on the global stage at least one more time before rates move.   As I write this last post for the decade I’ve come to realize that reading through the BOC announcement is like deciphering spy code.  There are a lot of clues left in their well written economic prose, and when you combine it with other economic intel (intelligence) you can get a sense of what the... 

As expected, the Bank of Canada (BOC) left the prime rate unchanged today. Not a big surprise given the recent strong employment figures.  Reading between the lines of the BOC announcement, you can’t help but get a sense that the Governor feels like he is walking through a haunted house.  He can sense that something is around the corner that’s going to make him jump in fright. The question is how high. Something bad is coming? I don’t get it you say! What about the all positive economic news – unemployment at 40 year lows,... 

Surprise! The Bank of Canada (BOC) left the prime lending rate unchanged today! Reading today’s press release, I had to admire the prose of an incredibly well crafted statement.  Peppered with phrases like: “accumulating evidence”, “job growth suggests”, “it appears” – and my favourite – “evolving largely as expected”.  It reminds me of a saying I heard back when I was studying for my mutual funds licence: “If you laid all the world’s economists out from head to toe,... 

As expected the Bank of Canada (BOC) left the prime lending rate unchanged today.  While I was reading the report this morning it felt as if it was written by an eight year old boy staring out the window on a rainy Saturday morning….heavy sigh! The reality of our export driven economy is that we are heavily reliant on the politics and economic policies of other countries.  Given the ongoing trade disputes and the general malaise of the global economy, Canada is once again stuck in the middle.  And if you’re following what the news... 

The prime lending rate remained unchanged today by the Bank Of Canada (BOC).  Though the BOC Governor anticipated an economic slow down in the first quarter of 2019, the notes from today’s decision suggest that the reason for the slow down can be mostly attributed to a loss of economic confidence.   A loss of economic confidence you say – call the stock broker, call the realtor … sell everything!  Now hold on there… before you start panicking like its 2009, this loss of confidence is attributed to uncertainty vs instability. ... 

The prime lending rate remained unchanged today by the Bank Of Canada (BOC).  The keywords repeated throughout the press release were “sustainable pace” and “moderation” which suggests the BOC will take a wait-and-see approach to rate increases in the first half of 2019.   When you combine the effects on the economy from the US-China trade conflict on global demand,  sliding commodity prices and oil dropping, you quickly get a sense that the BOC Governor is making sure that his supply of Alka Seltzer is well stocked for... 

The Bank of Canada (BOC) kept rates on hold today given the impact that falling oil prices, slowing global growth and stabilizing housing markets are having on the economy … not to mention an overwhelming desire to stay on Santa’s “Nice” list. Though the BOC continues to beat the drum of “rates must return to neutral” with the economy continually hovering at the 2 percent inflation target rate, one has to wonder are we really that far from the “new neutral”? The last paragraph in today’s news... 

As expected the Bank of Canada (BOC) increased the prime lending rate today by 25bps.   That means prime is now 3.95% or slightly higher, depending on the financial institution your mortgage is with. With the NAFTA agreement rewritten and turned into the US-Mexico-Canada Agreement, the BOC Governor felt that enough economic uncertainty has been taken out of the picture, which should prompt businesses to move money off the sidelines.  Today’s media release read like a mix of Harry Potter and Goldilocks and The Three Bears, which... 

In my last blog post titled Credit, Income, Net Worth – What’s Most Important to Lenders – I touched on how the new mortgage rules have forced lenders to focus mainly on your credit score when deciding to give you a mortgage. This is creating all sorts of problems because a credit score is just a one dimensional view of your financial strength. And before you attack the banks, trust me, they hate it even more than you do. Don’t forget, these are government rules, not the banks. The good news is that anything that’s scored is bound... 

With the significant changes in the mortgage rules since 2016, I thought it would be a good idea to go back to the basics and talk about the key ingredients in applying for a mortgage. Sounds riveting right? Yep, I’d thought you’d say that! But before you click away to that cat video, I promise to make this interesting – and more importantly quick.

To the surprise of 50 per cent of economists, the Bank of Canada (BOC) left the prime rate unchanged today. Two key factors kept the bank rate gun holstered: 1. NAFTA negotiations and 2. Signs that inflation is still below the 2 per cent range. Though the BOC took a pass meeting for a rate hike, a ratified trade agreement with the US and signs of wage growth could tip the scales and provide support for another 25bps increase in prime.  

The Bank of Canada (BOC) increased the prime rate by 25bps today which means prime will now be 3.7% with most lenders by the end of today. Though we are in the middle of a trade war with The Donald, the BOC felt there was enough good news that came in over the last quarter to warrant a rate hike.   In this post, we’ll cover what is keeping the BOC up at night and what options you should consider for your mortgage in a rising rate environment. 

As anticipated the Bank of Canada ( BOC ) left rates unchanged today.  Though gasoline prices have turned up the heat on the inflationary stove, the pot is not boiling … yet. There was some good news the in the announcement, BOC expects housing to perform well for the balance of 2018, businesses are starting to invest more and wage growth should offset higher interest rates.  All of which could give the BOC some comfort in increasing rates in July. But the real story today,... 

The Bank of Canada (BOC) left the prime rate unchanged today. Which means the prime is 3.45% with most institutions, or 3.6% if you bank with TD. With their focus on NAFTA talks, geopolitical instability and the protectionist stance of our largest trading partner, the BOC feels that keeping their foot on the gas pedal (albeit very lightly) is still a good idea.  A key comment in today’s announcement is that production capacity has been revised upward.  With unemployment at record lows, this means that the inflationary pressure that comes... 

The Bank of Canada (BOC) left the prime rate unchanged today. Which means the prime is 3.45% with most institutions, or 3.6% if you bank with TD. The key reason for not increasing prime was due to the impact of Trump’s proposed steel tariffs, and core inflation running below the Bank’s target level.   If the proposed tariffs go through, there could be an opportunity for lower fixed mortgage rates and real estate in the Lower Mainland.  

The Bank of Canada (BOC) increased the prime lending rate today by 0.25%, meaning the prime rate by the end of business today should end up at 3.45% unless you bank with TD Canada Trust where it will be 3.6%. Despite NAFTA being potentially re-written, the Governor found comfort to increase the lending rate due to the global economic growth, tight labour markets and growing exports.   This move suggests that the Canadian economy is on solid footing and can handle any shocks brought on by The Donald. Some key economic indicators suggest that... 

As anticipated, the Bank of Canada (BOC) left the prime rate unchanged today.   The Governor’s comments seemed to describe the economy as that rare breed of driver that uses both feet when driving – usually unwittingly with one foot resting on the brake while the other is on the gas.   

Focus on proposed tax changes Nov 9, 2017 Expert insights Courtesy of: First National Financial LP On July 18, 2017, the Canadian government released a consultation paper and draft legislation that proposed significant changes to small business tax rules. Following a public consultation period that ended on October 2, 2017, the government revised its thinking and in some cases withdrew the proposals. What is left are planned reductions in the small business tax rate, but significant limitations on the generation...