Steve Huebl
Associate Editor at Canadian Mortgage Trends
Editor of CMT (@CdnMortgageNews). All views my own. #journalist
Articles
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3 weeks ago |
canadianmortgagetrends.com | Steve Huebl
Statistics Canada reported that exports fell 10.8% month-over-month—the biggest monthly drop since the early days of the pandemic. The pullback was broad-based, with declines in 10 of 11 categories, and was felt most sharply in auto exports, which dropped nearly 23%. “April marked the first month that Canada faced the full suite of American tariffs, most notably auto tariffs, which are imposing a massive headwind on auto trade,” noted TD economist Marc Ercolao.
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3 weeks ago |
canadianmortgagetrends.com | Steve Huebl
In a speech Thursday at the C.D. Howe Institute, Deputy Governor Sharon Kozicki said the central bank is relying increasingly on non-traditional data and conversations with Canadians to understand how trade uncertainty and elevated interest rates are affecting households and businesses. These insights, she said, helped shape the Bank’s decision to hold its policy rate at 2.75% this week. “Most businesses expect activity to weaken in the near term, which puts jobs at risk,” she said.
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3 weeks ago |
canadianmortgagetrends.com | Steve Huebl
The Bank of Canada held its benchmark interest rate at 2.75% today, citing a Canadian economy that’s “softer but not sharply weaker” and inflation data that remains mixed. But beyond the decision to keep rates steady, the more notable shift was in tone: the Bank is pulling back from forecasting and leaning more heavily on incoming data to guide its next move.
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3 weeks ago |
canadianmortgagetrends.com | Steve Huebl
4:08 PM• Mortgage Industry News • Views: 2 Written by At the same time, some lenders continue to offer limited-time discounts on select shorter terms, creating a patchwork of rate movement across the market. RBC’s latest increases pushed its 3-, 4-, and 5-year fixed rates up another 5 basis points, bringing its 5-year fixed uninsured offering to 4.49%, up from 4.29% in March.
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3 weeks ago |
canadianmortgagetrends.com | Steve Huebl
The lender reported 2% quarter-over-quarter growth in its uninsured single-family residential portfolio, buoyed by a 28% jump in originations from the prior year and what executives described as one of the strongest quarters ever for loan retention. Application volumes in May were up 17% year-over-year, CEO Andrew Moor noted on EQB’s earnings call, adding that recent share gains appear to be coming at the expense of at least one large market competitor.
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Are Montreal homebuyers the target of the government's new first-time homebuyer program? Intended or unintended, it sure seems that way. https://t.co/mxhsN3m56b