canadian inflation rose in may, surprising markets Inflation unexpectedly rose in May, disappointing the Bank of Canada as it deliberates the possibility of another rate cut next month. The Consumer Price Index (CPI) rose 2.9% in May from a year ago, up from a 2.7% reading in April. This increase primarily reflects higher prices for […]

May was another sleepy month for housing The Canadian Real Estate Association (CREA) announced today that national home sales fell 0.6% in May, remaining slightly below the average of the past ten years. Actual (not seasonally adjusted) monthly activity was 5.9% below May 2023. With the Bank of Canada rate cut on June 5, housing activity […]

  As interest rates are anticipated to decline, many homeowners are considering switching from a variable-rate mortgage to a fixed-rate mortgage. This strategic move can lock in the next term and offer significant financial advantages. **Stability in Payments** A fixed-rate mortgage provides stability in your monthly payments. Unlike a variable-rate mortgage, where payments can fluctuate […]

A collective sigh of relief as the BoC cut rates for the first time in 27 months Today, the Bank of Canada boosted consumer and business confidence by cutting the overnight rate by 25 bps to 4.75% and pledged to continue reducing the size of its balance sheet. The news came on the heels of […]

  Managing rising living costs can be especially challenging when you’re on a fixed income with limited cash flow. Many Canadians resort to taking out loans, using multiple credit cards, and delaying significant purchases to maintain financial stability in retirement. However, juggling debts from different sources with varying interest rates and payment schedules can be […]

  If you’re seeking a mortgage but your application doesn’t fit the criteria of big traditional institutions, you might find yourself in the “Alternative-A” or “B” lending space. This space includes lenders who offer more flexible qualifying criteria, making it easier for certain borrowers to obtain a mortgage. Let’s explore the types of lenders in […]

Federal budget targets rich Canadians for new spending The budget focuses on helping Millennial and Gen Z voters experiencing rising housing costs and other inflationary pressures. The government has set fiscal anchors, such as keeping the deficit below 1% of GDP starting in 2027. The Canadian federal government released its 2023 budget over a year […]

  Summer’s the perfect time to spruce up your yard. Maximize your space with these high-ROI concepts, elevating equity and curb appeal simultaneously! 1. Sustainable Landscaping: Opt for native plants, drought-resistant foliage, and xeriscaping to conserve water and amplify your yard’s natural charm. Consider rain gardens and drip irrigation for eco-friendly options. 2. Outdoor Structures: […]

In today’s economic landscape, the rise of inflation, interest rates, and overall cost of living can leave many feeling overwhelmed. But fear not! We’ve compiled five expert tips to help you navigate and overcome financial stress in these uncertain times: 1. Prioritize What You Can Control: Instead of fixating on factors beyond your control, focus […]

    In today’s volatile economy, rising inflation and interest rates can leave many feeling overwhelmed. But fear not! We’ve curated five actionable strategies to help you navigate financial stress and emerge stronger: 1. Focus on the Controllable: Take charge of your finances by identifying areas you can control. Evaluate expenses like phone bills and […]