Consumer spending and the housing market are deeply intertwined, each influencing the other in complex ways. Let’s explore this relationship and what it means for homeowners and the broader economy. Current Consumer Spending Trends Recent data shows: • Retail sales growth is at 0.2% • This is significantly below the historical average of 4.69% since
Bank of Canada Cuts Rates: Your July 2024 Financial Update As we reach the peak of summer, I hope this newsletter finds you well and enjoying the season. I apologize for the slight delay in getting this out to you – with school being out, I’ve been savoring precious family time and soaking in the
Inflation has become a prominent headline in recent times, and for good reason. In September, inflation in Canada eased slightly from 4% in August to 3.8%, as reported by Statistics Canada. While this dip might appear as a welcome change, it’s crucial to delve deeper into the broader implications of this softening rate environment and
Happy Friday Everyone! Spring is only a few days away and I wanted to reach out to give you an update on our end & to catch you up on the happenings of the real estate world. Firstly, I want to share some exciting news – our team has grown by two Andrew who has
The BOC increased the target for the overnight rate to 3.25% with continuing its policy of quantitative tightening. The banks, nonbanks, credit unions & private lenders – will all adjust their prime lending rates to follow the announcement in the days ahead. Lenders will adjust their prime rates respectively to 5.45% from 4.70%. *May differ
As we have all been waiting for the latest announcement by the Bank of Canada – which took place this morning. They went in aggressively deciding to rise the BOC (Bank of Canada) overnight lending rate by an additional 100bps or 1%. This rate is utilized by the banks to determine the rate to which
Starting the week off with another round of musings, this time about the ever fun topic of ‘credit’. We all know of it, but what of it? Many people aren’t aware of the impact of holding a high balance on a line of credit or credit card can have on your credit score. If you