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
In a significant move, the Bank of Canada has announced a reduction in the overnight lending rate by 0.25%, bringing it down to 4.75%. This is the first rate drop since the upward spiral began, signaling potential economic softening and offering new opportunities for homeowners and buyers alike. Prime Rate Impact: As a direct result,
Hello, I hope this message finds you well. As we transition into the holiday season, it’s essential to stay informed about significant developments that may impact your financial decisions. November was a month filled with noteworthy headlines, and I’m excited to share insights on key topics with you. Let’s dive into the headlines that captured
Navigating British Columbia, Vancouver, and Calgary Real Estate in September 2023: Insights to Empower Your Decisions The real estate journey in British Columbia, Vancouver, and Calgary is an ever-evolving adventure, filled with data-driven insights, market trends, and valuable information. As we delve into the highlights of September 2023, join us on a tour of these
Hello, I’m Catherine Ellis. Today, I’m here to share some motivating and eye-catching tips to help you prepare for rising interest rates. At Cultivate + Evolve Financial, we’re all about empowering you to make confident decisions for your financial future. Let’s dive into key strategies like practicing your payment, making lump-sum payments, understanding mortgage terms,
The Bank of Canada met on Wednesday and decided to hold the overnight lending rate – at 4.5% Why was this decision made: o Inflation in many countries is easing in the face of: o Lower energy prices o Normalizing supply chains o Tighter monetary policy o On the other side: o Labour markets remain tight.
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 Bank of Canada met on Wednesday and held the overnight rate at 4.50% and is continuing its quantitative tightening. What does this mean? If you have a variable or adjustable rate or HELOC product – there is no change to your rate currently. If you have a fixed rate mortgage – your payments will
December Update – 2022 Good afternoon, I am sure many of you heard the latest update from the BOC in relation to the overnight rate hike by an additional 50bps (0.50%) bringing the rate to 4.25% and the corresponding prime rates should move in the days ahead to 6.45% with many lenders and 6.60% with