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Why Canadian Inflation Is About to Move Higher
July 24, 2023
Why Today’s Job Losses Won’t Change the Bank of Canada’s Mind
August 8, 2023
Last updated on August 10, 2023
Categories
  • Monday Morning Mortgage Rate Updates
Tags
  • Mortgage Rates
  • mortgage advice
  • davethemortgage

Dog reading book with glasses.

I was away last week so there is no new post today.

I’ll be back next Monday, and in the meantime, here are several links to recent popular posts:

  1. Why Canadian Inflation Is About to Move Higher

In this post I explain why base effects pushed Canadian inflation down to its current level of 2.8% and why their diminishing impact will cause inflation to turn higher over the remainder of 2023.

  1. The Bank of Canada Tightens Again

This post offers my take on the Bank of Canada’s (BoC) latest policy statement, Monetary Policy Report, and press conference on July 12.

  1. Mortgage Advice: The Best of Today’s (Lousy) Mortgage-Rate Options?

Mortgage rates have risen rapidly of late and, in this post, I offer my take on how to navigate today’s difficult rate environment.

  1. The Reinvigorated Real-Estate Sector Compelled the Bank of Canada to Hike

In this post I explain why the BoC isn’t likely to stop raising its policy rate, let alone start cutting it, until our regional real-estate markets are performing much differently than they have been thus far in 2023.

Toronto mortgage ratesThe Bottom Line: Government of Canada bond yields were range bound last week. But lenders continued to raise their fixed rates, and gross lending spreads are now the widest they have been in some time.

Fixed mortgage rates have likely leveled off, for now.

Variable mortgage rate discounts were unchanged last week. As per the themes in posts I link to above, I continue to believe that at least one more 0.25% BoC is possible this year and that rate cuts are probably still a long way off.

I am an independent full-time mortgage broker and industry insider who helps Canadians from coast to coast. If you are purchasing, refinancing or renewing your mortgage, contact me or apply for a Mortgage Check-up to obtain the best available rates and terms.
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3 Comments

  1. Mihai says:
    July 31, 2023 at 1:04 pm

    Dave,

    Just my opinions
    – BoC will not increase the rates any further.
    – Boc will most likely start cutting rates in Sep, pretty aggressively.

    • David Larock says:
      July 31, 2023 at 1:58 pm

      We’ll see…

  2. Mihai says:
    July 31, 2023 at 1:19 pm

    And I forgot… Will surprise many

    I do expect by next summer the 5y Fixed Mortgage Rates to be around 3.50% !!!

Dave the Mortgage Broker
Integrated Mortgage Planners
David Larock - Mortgage Broker
Integrated Mortgage Planners Inc.
DBA: TMG Integrated Mortgage Planners Inc.
FSRA License #12867
2 St. Clair Avenue West, 18th Floor
Toronto, ON M4V 1L5

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