Mike the Mortgage Guy, Hamilton, ON (2026)

06/05/2026

Welcome to the June issue of my monthly newsletter!

June is a month nearly all Canadians look forward to – longer days and warmer temps lingering into the evening. Speaking of hot air… Did you know the first successful public hot air balloon flight was in the month of June? It was back in 1783 in Annonay, France, where the Montgolfier brothers had developed this first hot air balloon. It was made from paper and burnt straw and wool to generate the hot air that lifted the balloon nearly 2kms into the air. A hot air balloon craze quickly exploded across France and internationally, and within the year a variety of farm animals, and eventually humans, floated into the air marking the beginning of human aviation.

Small Extra Payments = Big Mortgage Wins

Having some extra cash on hand might give you some breathing room on rising gas and food prices, building an emergency fund, or even the ability to make a big purchase you’ve delayed. But – should you pay down your mortgage instead? If you’re considering paying down your mortgage, you’re in luck, because today we’re going to look at how a lump sum payment can transform your mortgage future.

Base Case Scenario

Here we’re going to look at a mortgage with a $500,000 balance at a rate of 4.99% and a 25-year amortization. In this scenario, your monthly payment would be $2,905.18. If we fast forward 25 years to the end of that mortgage, having made no lump sum payments, you’ll have paid $371,554 in interest and a total of $871,554 in payments for your $500,000 mortgage. Although your rate will vary over the course of your mortgage, in this example we’re going to keep it consistent at 4.99%.

Payment Options

When we’re talking about paying down your mortgage early, there are three main ways you can do this. The first is to save a lump sum of cash, which you put down all at once, one time per a year (for example, on your mortgage anniversary). You don’t have to make this payment every year, but you likely have the option to put down a flexible amount of cash with upper and lower limits every year of your mortgage.

The second option is to round up your regular payments to a set amount. Again, there will be upper and lower limits on how much you can pre-pay, but you’ll likely be able to round up by a couple hundred dollars or to the nearest $100, for example.

The third option is to go with accelerated payments, which are normally offered weekly or bi-weekly. Here the lender will calculate the specific amount for you.

Each of these options will help you pay less in interest over the lifetime of your mortgage, with varying impact on the total amount of interest. Below is a chart showing how these three prepayment types can change your mortgage.

As you can see, even a small monthly increase in your payment can save you tens of thousands of dollars on your mortgage. The biggest impact you can make on your own financial future is to change your payment frequency – the more often you pay, the less interest you pay, and the sooner you pay off your mortgage in full! Even if you don’t have a new mortgage, you can start any of these strategies at any time. Whenever you do start prepaying, you’ll start saving time and money over the rest of the term of your mortgage.

Be Aware: It’s important to consult your lender about what prepayment types and amounts allowed within your current mortgage. Many lenders set prepayment amounts as a percentage of your outstanding mortgage balance, although some lenders offer more unique options like doubling a payment.

If you want to run this scenario for your own mortgage, with whatever numbers you have, and different prepayment amounts, I’ve got great news. You can download my app and do it all – easily and for free – whenever you want. And if you have questions, you can DM me right in the app for help. Or call me anytime for help!

Kale Yeah! Edible Garden Plants That Love Canada

Looking to grow some herbs, fruits or veggies this summer? If you didn’t start with seeds 6 weeks ago, don’t worry! You can still make it happen if you work with the growing space you have and pick plants that will thrive under those conditions.

First, you’ll want to consider what growing zone you’re in. Gardeners in Victoria BC are going to have different plant options are going to have different plant options than Timmins ON!

Another important consideration is your yard orientation. You’ll first want to know if the place you plan to plant has full sun (6-10 hours per day), partial sun (morning or afternoon sun, around 4 hours per day), or full shade (little or no direct sunlight). Here are a few options for each condition:

Plants for full sun

• Radishes
• Green beans
• Saskatoon berries

Plants for partial shade

• Lettuce or kale
• Beets
• Cucumber

Plants for full shade

• Mint
• Rhubarb
• Parsley

Bedding Plants

What else should you consider when planting your edible garden? Well, what if you want it to both taste good AND look good? Normally a garden has a bunch of filler flowers, called bedding plants. Think of it like a flower garden, but swap the traditional flowers with flowering vegetables and fancy-leafed plants including swiss chard, basil, eggplant, lavender, hops, chives, arugula, and hot peppers.

Native Plants

If you’re still struggling after all these suggestions, one of the most successful ways to get edible plants to take to your yard is by choosing something that’s native to the growing zone. Across most of southern Canada, popular native (and edible) options are leeks, violets, wild strawberries, fiddleheads, watercress, or sage.

Hopefully you found a new idea here for your garden this summer. If you grow any of these, I’d love to see a picture of the garden!

Economic Insights from Dr. Sherry Cooper - Outlook for the Canadian Housing Market, 2026–2027

Canada's housing market is set to undergo a period of slow recovery and structural a period of slow recovery and structural adjustment in 2026 and 2027.

After several years marked by aggressive rate increases, deteriorating affordability, and uneven regional performance, the market is more likely to stabilize than to stage a dramatic rebound. Forecasts from the Canada Mortgage and Housing Corporation (CMHC), the Canadian Real Estate Association (CREA), and the major financial institutions broadly converge on the same picture: modest price growth, subdued sales activity, and continued supply shortages in key regions over the next two years.

Monetary policy is the central driver of this outlook. The Bank of Canada has lowered the overnight rate from its 5% peak—reached during the inflation-fighting cycle of 2022–2024—to 2.25% today, and the policy rate is expected to remain near current levels through most of 2026.

Market-determined interest rates, however, have moved in the opposite direction. Since the outbreak of the U.S.–Israel–Iran war nearly three months ago, oil prices have surged and inflation expectations have re-priced sharply higher, triggering a broad-based sell-off in government bonds and a meaningful back-up in longer-term yields. The result is a widening gap between the policy rate and the borrowing costs that households and businesses actually face.

Mortgage rates nonetheless sit well below their late-2023 highs, improving affordability at the margin and drawing some sidelined buyers back into the market. A return to the ultra-low borrowing costs that fuelled the pandemic-era boom is not in the cards. The Bank of Canada has been explicit that inflation risks remain elevated—particularly from global energy markets and ongoing geopolitical uncertainty—so rates are likely to hold around current levels through most of 2026 before gradually normalizing in 2027.

Economic growth is expected to remain weak this year, which will cap housing demand. CMHC forecasts Canadian GDP growth of just 0.7% in 2026, making it one of the weakest non-recessionary years in decades. Elevated household debt, soft labour market conditions, and slower income growth are weighing on consumer confidence, which has fallen to a record low. At the same time, reduced immigration targets and slower population growth are easing some of the demand pressures that intensified the housing crisis earlier in the decade.

Home prices are expected to rise only modestly over the next two years. CREA forecasts the national average price to increase roughly 1.5% in 2026 and less than 1% in 2027, leaving prices effectively flat in real terms. CMHC similarly anticipates only limited gains following the price declines recorded in 2025.

Taken together, the market is transitioning out of the speculative conditions of the pandemic era toward a more balanced environment. Buyers have become more price-sensitive, while sellers face stiffer competition from elevated inventory in many urban markets.

Regional divergence will remain one of the defining features of the Canadian market. Ontario and British Columbia are expected to underperform the rest of the country, as affordability remains severely stretched in both provinces. Toronto and Vancouver condominium markets look particularly vulnerable: investor demand has weakened, while developers face rising construction costs and slower pre-sales. CMHC expects housing starts in these markets to remain below historical averages through 2027.

Alberta and parts of Quebec, by contrast, are likely to outperform. Calgary and Edmonton continue to benefit from better affordability, strong interprovincial migration, and comparatively resilient economic growth driven by the energy sector. Quebec's market has remained more stable thanks to lower average prices and a broader mix of housing types. Even these stronger regions, however, are expected to cool somewhat as national population growth slows and rental supply expands.

Housing supply remains the market's central long-term challenge. Canada continues to build far fewer homes than are needed to restore affordability. CMHC estimates that the country requires roughly 430,000 to 480,000 new homes annually through 2035 to return affordability to 2019 levels. Yet housing starts are forecast to fall from approximately 259,000 units in 2025 to about 247,000 in 2026 and 223,000 in 2027. Developers are delaying projects in response to financing costs, weaker demand, labour shortages, and elevated construction costs. Condominium development is especially weak, while purpose-built rental construction remains the strongest area of activity.

Home prices are expected to rise only modestly over the next two years. CREA forecasts the national average price to increase roughly 1.5% in 2026 and less than 1% in 2027, leaving prices effectively flat in real terms. CMHC similarly anticipates only limited gains following the price declines recorded in 2025.

Taken together, the market is transitioning out of the speculative conditions of the pandemic era toward a more balanced environment. Buyers have become more price-sensitive, while sellers face stiffer competition from elevated inventory in many urban markets.

Regional divergence will remain one of the defining features of the Canadian market. Ontario and British Columbia are expected to underperform the rest of the country, as affordability remains severely stretched in both provinces. Toronto and Vancouver condominium markets look particularly vulnerable: investor demand has weakened, while developers face rising construction costs and slower pre-sales. CMHC expects housing starts in these markets to remain below historical averages through 2027.

Alberta and parts of Quebec, by contrast, are likely to outperform. Calgary and Edmonton continue to benefit from better affordability, strong interprovincial migration, and comparatively resilient economic growth driven by the energy sector. Quebec's market has remained more stable thanks to lower average prices and a broader mix of housing types. Even these stronger regions, however, are expected to cool somewhat as national population growth slows and rental supply expands.

Housing supply remains the market's central long-term challenge. Canada continues to build far fewer homes than are needed to restore affordability. CMHC estimates that the country requires roughly 430,000 to 480,000 new homes annually through 2035 to return affordability to 2019 levels. Yet housing starts are forecast to fall from approximately 259,000 units in 2025 to about 247,000 in 2026 and 223,000 in 2027. Developers are delaying projects in response to financing costs, weaker demand, labour shortages, and elevated construction costs. Condominium development is especially weak, while purpose-built rental construction remains the strongest area of activity.

Thanks for joining me for another monthly newsletter.

Thanks for reading the June edition of my newsletter! Something exciting to look forward to this month is the summer solstice, marking the longest day of 2026 on June 21. Coincidentally, that’s also fathers’ day! Other interesting dates in June are the 15th, when the Magna Carta was first signed in 1215, and the 2nd, when Queen Elizabeth II was crowned in 1953.

If you’d like to be added to my distribution list, send an email to [email protected]

You can apply online today by visiting:
https://velocity.newton.ca/sso/public.php?sc=t675zfpk48mb

You can download my mobile mortgage app in the App Store/Google Play or by visiting:
dlcapp.ca/app/mike-bohte

05/07/2026

Welcome to the May issue of my monthly newsletter!

Planning a road trip this summer? Canada has plenty of kilometers of roadway to offer! The Trans-Canada highway officially opened in 1962, crosses all 10 provinces, and stretches 7,821 km from Victoria BC to St. John’s NL.

A few fun things to see include:

• The longest bridge over ice-covered waters (Confederation Bridge in PEI)
• The Terry Fox Memorial (in Thunder Bay)
• 44 wildlife crossings (distributed throughout Banff National Park)

Prefer a North-South route? You could drive 6,511 km from Tuktoyaktuk down to Point Pelee National Park, crossing the Arctic Circle and seeing the Vegreville Pysanka and the Winnipeg Mint on the way. With over 1.1 million kilometers of roadway to explore, there’s bound to be a road worth taking!

Before You Sign: The Condo Buying Checklist

Thinking of buying a condo, townhouse or other strata-based home? There’s plenty to think about, from reserve funds to house rules to joining the board. Here are the crucial considerations before you sign on the dotted line.

New or Resale?

There are important differences between new/rebuild or resale unit. With a new unit, you’ll want to ask about warranties of appliances and features, the proposed budget, other planned construction in the area, and what tax benefits will be available. With a resale unit, you’ll want to review the reserve fund study, meeting minutes of the board, uncover existing issues and what planned replacements or improvements might be needed.

Documents to Review

It’s important to know what you’re getting into. Requesting documents (in writing) from the builder or the management or condo corporation will give you the background you need to make an informed decision.

Here’s what to ask for:

· Corporation bylaws
· Registered condo plan
· Most recent financial statements
· Budget
· Condo or homeowner fee chart
· Minutes for the most recent AGM and condo board meetings
· Insurance certificate
· Reserve fund study/report
· Structural deficiencies or studies, especially post tension cables
· Legal judgements or actions
· Management contracts
· Summary of deficiencies (if it’s a new building)

You’ll likely be charged either per page or per document (plan on spending a couple hundred dollars) and can take up to 10 days to fulfil the request.

What do you do with the Documents?

Once you have the paperwork, it’s important to have them reviewed by an expert. There are plenty of local condo review professionals online, or you can ask your realtor or lawyer for a referral. The biggest things to consider are:

· Legal disputes or pending lawsuits

· Reserve funds and adequate financial position

· Special assessments

· Bylaws that impact daily life, like pets, noise restrictions, and balcony contents

· Post tension cables

· Appropriateness of condo fees

· Insurance coverage

The Condo Board

Condo boards are traditionally made up of owners that manage finances, common area maintenance, repairs, and upholding the bylaws. Once a year, they will hold an annual general meeting, and often open the board for election or new board members to join.

If you’re buying, you may want to consider joining the board as you will have a say in building management, making improvements to the operations, and even help you get to know the other residents. Plus, it can look good on a résumé! However, there will be a time commitment required, you may be held as a scapegoat should something go wrong with the corporation. It’s not for everyone, but you will get an inside look at building operation.

Provincial Differences

Not every province is the same! Here’s a guide that explains what each province requires.

Inspect, Inspect, Inspect

As with any home, you’ll also want to do a physical inspection. In addition to flushing the toilets and turning on the lights inside the unit, you’ll need to inspect the common areas like stairways, the yard, railings, garbage and recycling and any building amenities. Here's a checklist to use while touring the home.

Remember than any amenities need upkeeping – so you may like to have a pool or an elevator, but know it costs money, takes maintenance and will potentially result in big expenses. It also means more documents and inspection before you finalize your purchase.

Can AI Do the Work?

Glad you asked! AI is a great tool to employ when reviewing large volumes of documents – like board meeting minutes, condo bylaws, and more. Uploading the docs, as well as the provincial regulations, and asking for a comparison and any oddities is a great start. However, there truly is no substitute for experience, so don’t dismiss paying for professional help.

Overall, there’s plenty to consider when buying a condo. Don’t be afraid to ask for help – you have plenty of support behind you and, as your mortgage professional, I want you to be absolutely confident in your purchase and financial decisions.

Canada’s Most Buzz Worthy Concerts

There are SO many great acts on tour this summer, and no matter what kind of music or where in Canada you are, there’s bound to be something you’ll want to attend. Here are some of the biggest shows to whet your musical whistle.

Country Music

• Country Thunder includes The Red Clay Strays, Kane Brown and Lainey Wilson as the Calgary headliners, switching it up with Riley Green, Creed and Lainey Wilson for the Saskatchewan edition
• Boots and Hearts has an extensive and diverse lineup, including the Jonas Brothers, the Chicks, and Rascal Flatts for the Ontario edition and Shaboozy, Russell Dickerson and Midland at the Edmonton (West) edition

EDM

• The Badlands music festival returns to Calgary, where EDM lovers will be treated to Mau P, Dom Dolla, Griz and more
• If you’re closer to our nation’s capital, Escapade is another great EDM option where you can see Loud Luxury, Disco Lines, Alleycvt, and some repeats from Badlands as well
• Shambhala is already sold out, but you can join the waitlist or volunteer with the event if you still want to be part of the Salmo-based festival

Rock & Alternative

• Foo Fighters and Queens of the Stone Age fans will be excited to see them in Toronto, Regina, Edmonton, or Vancouver (https://www.foofighters.com/tour-dates/)
• Or maybe you’re a Guns ‘N’ Roses lover in Toronto, Edmonton or Vancouver, in which case you’re in for a treat later this summer https://gunsnroses.com/pages/tour -america-summer-2026
• Rush will be hitting the stage for several dates in Montreal and Toronto, this summer, with a few dates towards the end of the year in Edmonton and Vancouver https://www.rush.com/tour/fifty-something/
• Another fun option is AC/DC, who will be in the usual big 4 cities, plus Winnipeg https://www.acdc.com/tour/
• Finally, if you love a woman in rock, Alanis Morissette’s sole Canadian show might have you planning a trip to Calgary in early July https://alanis.com/events

Jazz

• For jazz enthusiasts in the Ottawa area, the Ottawa Jazz Festival awaits
• If you’re on the western side, you might opt for the Kaslo version
• The full lineup for the Montreal Jazz Fest was released at the end of March, which has some big names for you to check out

Other Genres

• French-Canadian microtonal math rock duo, Angine de Poitrine, is exploding onto the music scene. You can see them across Quebec, plus stops in Toronto, Winnipeg and Vancouver. Even if you don’t plan to go to a concert, they’re worth knowing more about
• Hip hop listeners will be both happy and sad that J. Cole is sharing his final album with attendees in Montreal, Toronto and Vancouver
• Hillary Duff is back on tour, hitting Toronto as her only Canadian stop this summer https://www.hilaryduff.com/live
• Punk and alt music fans will want to head to Warped Tour in Montreal to see the only Canadian stop, featuring Jimmy Eat World, Gob, Simple Plan, Pennywise, Sublime and MANY more

I’m sure there’s something in there for every music lover – so let me know which one is at the top of your list!

Economic Insights from Dr. Sherry Cooper

Largest Oil Price Shock in History Won’t Reverse Anytime Soon

The war against Iran started by Israel and the US on February 28 will not come to a rapid resolution. Public guidance from President Trump has repeatedly framed the campaign in terms of “weeks”, with timelines drifting from 4 to 6 to even 8 weeks, and more recent briefings suggesting “another two to three weeks” of U.S. attacks from early April.

At the same time, Iranian officials have signalled they are prepared for a longer conflict, meaning the limiting factor may be U.S. political tolerance and coalition dynamics rather than Iran’s willingness to continue.

Putting this together:

• Base case (market consensus): A limited, high intensity phase of the war that lasts on the order of a few months, with active large scale strikes tapering off sometime between late April and early summer 2026, replaced by a more chronic, lower‐level confrontation.
• Upside (fast peace): A durable ceasefire that sticks in the next 2–4 weeks, leading to a de facto end of major hostilities before summer.
• Downside (protracted conflict): If talks stall and low level attacks around the Gulf persist, the “war” in political and market terms could run through the rest of 2026, even without continuous large scale bombing.

Given the information available now, markets are trading as if major operations have weeks, not years, left, but with a material tail risk of a longer tail of instability.

Where we are now

• Iran has announced the Strait of Hormuz is “completely open” to commercial vessels for the duration of the current ceasefire, which triggered a sharp drop in Brent and WTI prices.
• Brent fell from around $98 intraday back to the high $80s after the announcement; prior to the war, it was below $70.
• U.S. WTI crude has fallen into the low $80s after peaking above $105–$110 earlier in the week; pre war levels were mid $60s per barrel.

So “open” in a legal sense is not the same as “back to normal” in a physical/logistical sense.

How long to get the flows back to normal?

Energy analysts are fairly aligned on three points:
1. Infrastructure and logistics are damaged or out of position: The Gulf’s energy system has suffered damage; some wells and facilities can be restarted in days or weeks, but a return to “something like normal” Gulf exports will take months. Tanker routes, insurance, and naval risk premia will remain disrupted for an extended period even after formal reopening.
2. Market rule of thumb: restoration time ≈ outage time: One widely cited rule: it tends to take about as long to bring production back as the duration of the outage. If Strait related disruptions last ~2½ months, analysts expect another ~2½ months to work back to pre war production and export volumes.
3. Stored reserves and inventories need rebuilding: Strategic stocks and commercial inventories have been drawn down during the disruption; refilling them keeps upward pressure under prices even after flows resume.

Why the Strait matters so much

This chokepoint is not just about oil; it’s a hub for multiple critical inputs into global production. Trade volumes are at risk, and we’re seeing shipping delays and route diversions. Rising oil prices are just the start; the product shortage list has been expanding the longer the blockade persists to include:

• Energy, LNG, and petrochemicals
• Fertilizers and agriculture
• Specialty gases and high-tech manufacturing
• Metals and heavy industry
• Transport, logistics, and consumer goods

For Hormuz specifically, analysts stress that short disruptions = mainly price volatility, but months long blockades = real quantity constraints for energy, fertilizers, and specialty inputs, with implications for inflation, industrial output, and trade balances.

Policy and business priorities

• End blockades quickly to avoid non linear escalation in supply chain damage once closures extend beyond a few weeks.
• Safeguard maritime transport and ensure secure corridors, including naval escorts and clear deconfliction protocols, to maintain at least partial flow.
• Enhance resilience through diversification of suppliers, alternative routes (where feasible), strategic stockpiles (energy, fertilizers, specialty gases), and more flexible logistics arrangements.
• Transparent communication from governments and firms to limit panic, hoarding, and self reinforcing disruption in financial and physical markets.

The central banks are aware of the weakening of the global economy, as reflected in layoffs and slower GDP growth. In Canada, homeowners are facing higher monthly mortgage payments after renewing or refinancing their mortgages. Despite the oil-induced rise in inflation, central banks will likely remain on the sidelines for as long as possible. Fixed mortgage rates have already risen, and continued uncertainty has fuelled the housing bear market in some regions of the country.

Thanks for joining me for another monthly newsletter.

Here’s your friendly reminder that Mother’s Day is coming up on Sunday May 10 (be sure to get her a card), Victoria Day is Monday May 18 (enjoy the holiday!), World Bee Day is Wednesday May 20, and Sunscreen Day on Wednesday May 27 (don’t forget to slather some on).

In addition to keeping you informed and entertained, I also do mortgage reviews! If you’ve had your mortgage for over 2 years, I’d love to see if there’s an opportunity to get a better rate, take out some equity, resize to another property, or whatever else you’ve got in mind. And if now isn’t the time, I look forward to seeing you back here in June!

If you’d like to be added to my distribution list, send an email to [email protected]

You can apply online today by visiting:
https://velocity.newton.ca/sso/public.php?sc=t675zfpk48mb

You can download my mobile mortgage app in the App Store/Google Play or by visiting:
dlcapp.ca/app/mike-bohte

04/08/2026

Welcome to the April issue of my monthly newsletter!

You may already know that April’s birthstone is a diamond – but did you know that 80% of mined diamonds are used for industrial purposes like cutting, drilling and grinding? It’s a good thing we’re producing man-made diamonds for these processes, because natural diamonds take over a billion years to form. From deep within earth’s crust, they were pushed to the surface by volcanoes 40-55 million years ago.

Diamond mining began in Canada in 1991 in the Northwest Territories. Since then, Canada has become the 3rd biggest producer of diamonds worldwide, accounting for 13-14% of supply. Since those humble northern beginnings, diamond mining has expanded to 7 producing mines as of early 2026. And we’re not done yet! There’s currently a mineral exploration project showing promise for fancy coloured diamonds in Nunavut, plus one more unexpected location for an exploratory project. Can you guess what province it’s in?

What’s Blooming in Real Estate: Spring Market Insights

If you’re looking for a preview of what spring has in store for the housing market in Canada, you’re in the right place. Here’s everything buyers, sellers, investors, refinancers, and everyone else thinking about a change in their housing situation needs to know.

Rates: Most economists, plus the Bank of Canada itself, have confirmed they believe the policy rate is at the bottom for this rate cycle. For mortgages, that means you’re unlikely to see further rate decreases, so it’s a good time to buy or refinance for a 3-to-5-year term. For those with or looking at a variable rate, there is currently a healthy discount, but over the next two years you’re likely to see a series of increases.

Down Payment News: Nova Scotia unveiled a new program for home buyers, reducing the minimum down payment to only 2%. Credit unions are offering the consumer mortgage products, and the provincial government is providing lender insurance on the mortgages. Other provinces are taking note, although we’re yet to see any other program announced so far.

Canadian Real Estate Association: CREA announced a decline in home sales to start the year, but suggested it was weather related rather than a market downturn. The main reason they believe the market is poised for an uptick is the pent-up demand from buyers 25-40 years old. It’s the biggest home buying cohort in Canadian history, and the buyers have been shut out for the past 3-4 years due to affordability and market conditions. But now rates are at their low point, and 75-85% of the group still want to be home owners. Timing is right for action.

Canadian Mortgage and Housing Corporation: CMHC’s 2026 housing report came out, predicting near-flat data across new starts (thanks to construction costs and existing inventory), sales (affordability and carrying costs are still factors), and prices (supply and demand are near equal). Housing formation is delayed thanks to all the uncertainty in the market. But perhaps most of all, the economic uncertainty thanks to tariffs, a looming CUSMA renegotiation, and the general volatility of the US economic policy is impacting the Canadian housing market negatively. We’re seeing less activity overall, weak supply and demand, and a flat spring market in 2026.

US Influence: We know the tariff situation with the US is far from resolved. Most recently, the US Supreme Court struck down the original tariffs, but Trump near immediately implemented blanket new ones using one of many legal workarounds available. Also of note is the July 1 deadline for a CUSMA review, which will redraw trade policy between the three countries. Finally, a new Chair of the US Federal Reserve will be confirmed in May. Trump has nominated Kevin Warsh, who has a history of supporting higher interest rates to control inflation. Independence of the organization is high priority for many, although Trump wants rates lowered and is unsurprisingly creating new ways to influence monetary policy. There’s a lot to watch south of the border.

Old Traditions, New Creations: Classic Crafts to Do Indoors

Crafts are a chance to get off our phones and computers and either relax into a new hobby or connect with others over a creative endeavour. Enter analog arts – crafting’s 2026 reinvention. With a new name and a renewed popularity, an art project is not only fun but also keeps you (or the kids) entertained in any day, rain or shine. Plus, many of these ideas can be upcycling projects, or you can get the supplies from a thrift store, so you’re keeping the earth in mind as you create!

Embroidery: You literally only need a needle and thread for this one! Dig around in your closet and find a pair of jeans or a sweatshirt that has fallen out of your regular rotation and upcycle it with some custom embroidery. Flowers are an easy starting point, or get a hot glue gun to draw some lettering and stitch over the cooled glue for a nice 3D embroidered letter effect. If you’re lacking creativity and are okay with some planning ahead, you can order embroidery kits or stitch books online as well. Plus, there are no shortage of video tutorials to get you started!

Felting: Perhaps the easiest of all the crafts, all you need here is a felting needle and some wool. Plus, it requires little concentration and even helps with stress relief! Use a cookie cutter to make the loose wool into a shape, then just stab away until it merges into a more solid structure. To make it useful, create a catnip toy by felting a bottom later, filling the middle with catnip, and felting another layer on top. Really focus on the edges if you’re going that route!

Collage: Gather up whatever you have at your house, like magazines, stickers, ticket stubs, maps, wrapping paper, ribbons, books you’re done reading, flyers, or any other flat scraps. If you want to start small, get some Bristol board and cut out a bookmark for your first collage. And if you love the art, expand into a full junk journal and make a new page whenever you want! Collages are also a great way to make a vision board, or the 2026 version, a bingo card. After you arrange and overlap the scraps how you want them, use roll on glue dots to hold things in place, or mod podge for something that lasts longer and seals better.

Crochet: As the most complicated of the crafts here, a tutorial with pictures or video is in order. Here’s one option, but you can find tons more on YouTube or by doing a quick search on nearly any platform. You’ll need yarn and at least one crochet hook, and you’ll want to be sure they pair together. Start with a basic chain, and build up to a scarf or a cuff for those old jeans you dug out to embroider.

Bedazzling: The newest craft in this lineup will take some patience and attention to detail. For it you’ll need flat-backed gems or rhinestones (a lot more of them than you might imagine, and a couple sizes), bedazzling tweezers or a wax pencil to pick up the gems, glue (Gem-tac for fabric, E6000 for hard surfaces), and something you’d like to bedazzle (clothes, a mug, a hat, a book, whatever!). Map out your surface area to bedazzle, including any words, or use a stencil if you have a shape in mind and aren’t a great freehand artist. Work in small sections, either a circular area about 3cm wide or a shorter and longer section if you’re going in straight lines. Apply the glue to the area and let it begin to get tacky for a couple minutes before you start placing the gems. Use an offset or honeycomb type pattern to get the rhinestones as close to each other as possible. Once you’re done, consider sealing the project to make it last longer!

If you do give any of these a go, I’d love to see your creations!

Economic Insights from Dr. Sherry Cooper

First Time Homebuyers: It’s time to Get Off the Fence

The Bank of Canada and the U.S. Federal Reserve both held interest rates steady on March 18. Weakening job markets are competing for attention against rising oil prices driven by the war in Iran.

Both Governor Macklem and Chairman Powell acknowledged that inflation will likely rise, but said they would “look through” the price pressures given the uncertainty around how long the conflict will last.

Home prices kept falling in February (the latest data available), extending the longest price decline on record. According to Mortgage Loan News (MLN), CREA’s benchmark home price has now dropped for 15 consecutive months.

Prices are now down over 20% from their pandemic peak in Q2 2022, when the overnight rate sat at just 0.25%. After adjusting for inflation, the real decline in home prices is roughly 30%—an unprecedented drop.

The 5-year average price change has turned negative (–3.7%) for the first time since 1999. If you have been waiting for prices to fall further, this is the window. As MLN puts it, “the average Canadian who bought a home in February 2021—near the start of the pandemic frenzy—is now underwater on a nominal basis.” That means many homeowners owe more than their home is currently worth, which also affects their ability to refinance.

Trump’s Latest Salvo to Impose Tariffs

The Trump administration made waves this week with a new move that could eventually lead to tariffs on Canadian goods currently protected by the Canada-U.S.-Mexico free trade agreement (CUSMA).

The U.S. Trade Representative (USTR) launched Section 301 investigations into 60 countries—including Canada and Mexico—to examine whether they are failing to block imports made with forced labour.

Washington trade experts almost universally view this as a pretext. The real goal, they say, is to replace the tariffs the U.S. Supreme Court struck down in February under IEEPA (the International Emergency Economic Powers Act), before the stopgap Section 122 duties expire on July 24, 2026.

Clark Packard of the Cato Institute called Canada’s inclusion in the list of sixty targeted countries “unbelievably shocking” and called the Section 301 process a “show trial” in which the USTR acts as “detective, prosecutor, judge, and jury.” Inu Manak of the Council on Foreign Relations said the probe “has nothing to do with forced labour.” Andrew Hale of Advancing American Freedom accused the administration of acting “in bad faith” by compressing a 12-month process into five months.

This raises two questions: Will the administration succeed in imposing new tariffs? And will those tariffs hit goods currently protected under CUSMA?

New tariffs under Section 301 are almost certain. Section 301 gives the USTR wide-ranging power to act on its own. Unlike IEEPA, this law has withstood legal challenges for decades—it was the basis for Trump’s first-term tariffs on China, which the courts upheld. The forced-labour framing is convenient because it is nearly impossible for any country to prove that no goods made with forced labour enter its borders.

The five-month timeline is aggressive—these investigations normally take about a year, and running sixty of them at once is untested. Still, the law does not set a strict minimum. Legal challenges are likely, but the administration will probably secure tariff authority before the courts step in.

That said, several factors make it unlikely that tariffs will be applied to CUSMA-protected goods:
• It’s more useful as a threat. The CUSMA review officially begins in July 2026. The threat of pulling the trade-agreement exemption gives the U.S. leverage in those negotiations. Actually doing it would devastate North American supply chains—especially in the auto sector, where Canada and Mexico are top exporters to the U.S.
• It would hurt America, too. Blanket tariffs on Canadian goods would disrupt U.S. manufacturing that depends on Canadian energy, aluminum, and critical minerals.
• Politics favours restraint. With U.S. midterm elections in November 2026 and inflation already a top voter concern, broad tariffs that push prices higher would be politically costly for Republicans.
• History suggests exemptions will continue. Even under IEEPA, the administration exempted CUSMA-compliant goods. The replacement Section 122 tariffs did the same.

The most likely outcome: Section 301 is used to impose targeted tariffs on specific Canadian sectors—manufacturing, textiles, and possibly autos—while CUSMA-compliant goods remain broadly exempt. Negotiations will be tense, especially if Canada resists concessions on dairy (supply management), softwood lumber, or defence spending during the summer review.

The “forced labour” pretext hands the Trump administration a powerful card. Whether they play it against the entire CUSMA framework depends on how talks with PM Carney unfold this summer. As Manak advises Ottawa: be patient and avoid major concessions before the midterms—the political landscape could shift significantly following the vote.

If you’ve gotten this far and are wondering about that exploratory diamond project – it’s called the Star-Orion South Diamond Project and it’s in Saskatchewan! The mines are projected to hold over 70 million carats of diamonds which will be extracted over the 34-year lifetime of the mines.

In other news this month, April 22 is Earth Day, so now is the time to think of something you could do for the planet. A few ideas: a neighbourhood cleanup, opting not to drive your car for the day, or even planting a tree.

Here’s to some nicer weather around the corner and I hope to see you back here in May!

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