Krystyna Seibicz Mortgages

Krystyna Seibicz Mortgages Mortgage Agent Level 2 with Dominion Lending Centres YBM Group Ltd. #11129. I’m here to help 📞 🏡

The Bank of Canada today held its target for the overnight rate. No change at this point in time. They will meet again J...
04/10/2024

The Bank of Canada today held its target for the overnight rate. No change at this point in time. They will meet again June 5th.

Happy Valentines Day ! ❤️
02/14/2024

Happy Valentines Day ! ❤️

“In January, the Canadian bond market took quite a beating as interest rates rose roughly 30 basis points from their rec...
02/06/2024

“In January, the Canadian bond market took quite a beating as interest rates rose roughly 30 basis points from their recent lows. The December housing data revealed a surge in sales, while inflation data showed just how difficult it may be to return to the 2% inflation target.

Core inflation remains above 3.5% despite flat economic activity in the fourth quarter.
 
While overall growth declined by 1.1% in Q3, we expect the final quarter of 2023 and Q1 of this year to post roughly zero growth. Nevertheless, labour markets remain relatively strong, and wage rates rise well above 5% year-over-year.
 
Since mid-year, the Bank of Canada has focused on the supply/demand balance, inflation expectations, wage growth and corporate pricing behaviour. Last week’s Business Outlook Survey showed little to no improvement in those metrics, with corporate pricing behaviour somewhat encouraging on the path to normalization but still not there.
 
There is a way to go before we see sub-3% inflation sustainably. Until then, the bank will hold the overnight policy rate at 5%. The Bank of Canada made its first announcement of the year on January 24th, resulting in no change in the overnight rate for the fourth consecutive meeting.
 
While markets are anxiously looking forward to a series of interest rate cuts, it is too early for the Bank of Canada to take a more dovish tone. This week, they will issue their full economic forecast in the Monetary Policy Report.
 
Inflation remains critical to the outlook. The latest CPI report was not encouraging. Progress has been made in bringing inflation down, but plenty of work remains to get back to 2%. Rate cuts are coming this year, but the Bank of Canada will patiently await a further drop in inflation and inflation expectations. In the meantime, a continued rebound in housing markets will anticipate the future easing in mortgage rates.“

-Dr. Sherry Cooper

Bank of Canada maintains policy rate, continues quantitive tightening:The Bank of Canada today held its target for the o...
01/24/2024

Bank of Canada maintains policy rate, continues quantitive tightening:

The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%.

Happy Mindset Monday ! I hope you all have an amazing week ❤️
01/15/2024

Happy Mindset Monday !

I hope you all have an amazing week ❤️

If you feel like debt is weighing you down, start your new year off right by getting your finances in order. Call today ...
01/10/2024

If you feel like debt is weighing you down, start your new year off right by getting your finances in order.

Call today ! 😊

(705) 718-0163

“With the release of the November inflation data, some were disappointed that inflation remained at 3.4% year-over-year—...
01/02/2024

“With the release of the November inflation data, some were disappointed that inflation remained at 3.4% year-over-year—the same as in October.

However, without the base effects of year-ago energy price declines, inflation would have been less than 3%.

 
December’s inflation data will be similarly skewed higher. Still, there is ample reason to suggest that interest rates have peaked, and the Bank of Canada will begin to ease monetary policy next year.

The economy has slowed significantly, and the unemployment rate is rising. Consumer spending will continue to slow as monthly mortgage payments rise at renewal. Excess demand is now gone, and housing markets have slowed considerably. Although the road to 2% inflation will be bumpy, the central bank now believes that the overnight policy rate is high enough to return inflation to its target.

Core inflation has been sticky, and wages continue to rise, playing catch-up to past inflation, but events are trending in the right direction. While not even the Governing Council knows when they will begin to cut interest rates or how quickly the process will proceed, policymakers and regulators are worried about the dampening effects of significant increases in monthly mortgage payments for the 60% of loans that will be renewed or refinanced in the next three years.

Just as overstaying their aggressive easing of monetary policy caused inflation, on the flip side, keeping monetary policy this tight for too long could damage the livelihoods of many Canadians, triggering potential financial instability and significant layoffs. These concerns have precipitated a dramatic decline in market-driven interest rates worldwide.

There are many reasons to believe the Bank of Canada will begin to ease monetary policy in 2024. Bond and money markets are building in this expectation.”

As we enter the New Year, it’s always fun to reflect on the previous twelve months and take a look at what is trending a...
01/02/2024

As we enter the New Year, it’s always fun to reflect on the previous twelve months and take a look at what is trending as we move forward.

If you’re unfamiliar with the Pantone of the Year, it is more than just a colour to paint your walls.

Since 2000, the Pantone Colour Institute has been indicating a colour of the year and, for many, this is seen as a representation of the current moment in time helping us to reflect on the culture and state of the world. Think of it like a snapshot in time!

For 2024, the Pantone color of the year is “Peach Fuzz”; which is notably a warm and cozy hue to feed and nourish the soul.

During this post-pandemic period of turmoil around the economy, mortgage industry, and housing market, many of us are currently in need of more nurturing and comfort. This colour signifies the importance of caring and community even more as we enter 2024.

As the calendar turns over, take inspiration from Pantone to make the New Year one of comfort, healing and peace for yourself and those around you. With interest rates forecasted to drop towards the later half of 2024, housing and job markets set to stabilize and inflation slowly reducing to normal, we have some stability to look forward to.

To ensure you can make 2024 as comfortable as possible, don’t hesitate to reach out to me for mortgage advice. Managing your finances can be a great way to reduce stress and leave time for more important things!

Renewals are on the rise, and this can be a great opportunity for you to rebalance your mortgage contract, review your interest rate and terms, and update your payment schedule to make the most of your monthly cashflow.

Call today ! (705) 718-0163

Happiest of New Years to everyone ! 💛🥂
01/01/2024

Happiest of New Years to everyone ! 💛🥂

Merry Christmas Everyone ! 🎄❤️
12/25/2023

Merry Christmas Everyone ! 🎄❤️

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