Hello my friends :) As we have all heard by now, Canada’s inflation rate has increased in the month of December to 3.4% from 3.1% in November  Before we freak out, let’s take a deeper dive into what that really means… WHAT CAUSED THE INCREASE? The headline inflation rate ticked up from 3.1% in November, largely because of a sharper decline in gasoline prices a year ago compared with last month. Economists were widely expecting this rise due to a base... [read more]

We wanted to start of the new year with some predictions/forecasting on where mortgage rates will go in 2023. But, forecasting is hard at the best of times, and these are not them. If you were to go back and read the top economist predictions back in January of 2022, nobody even came close to what we saw this past year. So, with several grains of salt, here's why I think rates will remain high for much of 2023.  The Labour market is still over heated  Last weeks Canada added... [read more]

The Toronto real estate market is likely to feel the impact of the rising cost of living, increased demand from a growing population, unemployment status, the mortgage stress test and housing diversification as it relates to “the missing middle.” With the higher cost of living hobbling first-time homebuyers’ capacity to buy, rental prices are also hitting new highs. When it comes to immigration, Canada is rightly welcoming record numbers of new... [read more]

Hi my friends! Inflation numbers are out today. And I finally have some GOOD NEWS to share :)  September CPI is down at 3.80% from August CPI at 4% This is great news ahead of BoC’s interest rate announcement next week (October 25) as inflation is one of the major factors that dictates what BoC will do. Looks promising for no increase next week from where we currently stand (but no guarantees or promises of course) Some high-level points: Inflation rate is lower... [read more]