Darren Rossi - Dominion Macklem Mortgages

06/06/2024

Good article detailing the probability of future rate cuts, the prediction remains that Prime rate should be around 5.00% at the end of 2025.

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 […]

06/05/2024

Bank of Canda reduced overnight bank rate by 1/4% today as widely hoped for and expected. Though this may not affect fixed term rates at the moment, it should start providing relief to many Canadians on variable rate mortgages.

The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is continuing its policy of balance sheet normalization.

05/31/2024

Hopefully this news is more reason for the BOC to start lower rates next week. Don’t expect anything drastic, probably a 1/4% next week and then two or three similar drops by the end of the year. 🤞🏼

Odds of a Rate Cut Next Week Rise with Disappointed Canadian GDP Growth The likelihood of a rate cut next week has increased due to disappointing Canadian GDP growth. Real gross domestic product (GDP) only rose by 1.7% (seasonally adjusted annual rate) in the first quarter of this year, which is wel...

04/16/2024

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 feder...

03/19/2024

Latest Inflation numbers look good and hopefully encouraging enough for the BOC to move their first expected rate cut up to their next April 10th meeting 🤞🏼

The Consumer Price Index (CPI) rose 2.8% year-over-year in February, down from the 2.9% January pace and much slower than the 3.1% expected rate. Gasoline prices rose in Canada for the first time in five months, which led many analysts to forecast a rise in February inflation as seen in the US. Howe...

01/22/2024

Hopefully sooner than later but maybe now not until June...

A majority of economists believe stubborn inflation is likely to delay the first Bank of Canada rate cut until at least June.

11/30/2023

Higher rates slowing down the economy is good news for the B.O.C., 5 year mortgage rates starting to drop, Prime rate should follow next Spring.

The Table Is Set For Rate Cuts In 2024 The Canadian economy weakened far more than expected in the third quarter, down 1.1% annually. However, the Q2 figures were revised up significantly from a 0.2% decline to a rise of 1.4%. Such are the vagaries of economic data. The Canadian economy is contracti...

06/07/2023

BOC raises rates by another ¼% with possibly more to follow...

Variable-rate mortgage holders are in for "more pain" following the Bank of Canada's half-expected decision to hike interest rates again.

04/03/2023

https://www.canada.ca/en/department-finance/news/2022/08/design-of-the-tax-free-first-home-savings-account.html

03/30/2023

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