Why Canadian Inflation Is About to Move HigherJuly 24, 2023
Why Today’s Job Losses Won’t Change the Bank of Canada’s MindAugust 8, 2023
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:
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.
This post offers my take on the Bank of Canada’s (BoC) latest policy statement, Monetary Policy Report, and press conference on July 12.
Mortgage rates have risen rapidly of late and, in this post, I offer my take on how to navigate today’s difficult rate environment.
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.
The 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.