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Brent Richardson
Principal Mortgage Broker/ Owner (Lic. # M08006143), Certified Financial Planner (CFP) Altrua Financial Inc. Lic. #13005
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Ground Level Updates on Mortgages and the Housing Market, before it hits the news
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5 Year government of Canada bond yields break below 3%
~ flat since the beginning of 2026, before the Iran war broke out
If this holds, we'll see fixed mortgage rates drop 0.10 - 0.20% within 1-2 weeks
🇨🇦's headline inflation in May surged to 3.2%, a 29 month high, due to higher energy prices
However, core inflation excluding energy was flat at 2.05%
With lower oil prices, the BoC is likely to hold, alongside downward pressure on bond yields/fixed rates
Oil prices in the mid $70's is only moderately inflationary
This means a much lower likelihood of rate hikes, and adds buoyancy to stock markets
The big question now is whether these prices sustain
After last weeks BoC hold, what happens next?
A US-Iranian peace deal doveshly sent oil and bond yields down 5%+, taking pressure off fixed rates
Despite optimism, until peace with Iran is sustained, a floor will remain on rates, with market odds at 70% for a hike in Dec 2026
Is the stock market overvalued? Will it crash? Or will it surge?
These are the wrong questions
Market timing is psychological warfare. It can ruin quality of life AND outcomes
The right question is: How do I build wealth effectively and reach independence with
🚨 JUST IN 🚨Bank of Canada holds its overnight interest rate at 2.25% as widely expected. Bank Prime remains 4.45%
What's not as expected is for BoC hikes of 0.50% within 1 year
But if oil remains at $90+ until winter, hikes become imminent
If you select a variable rate mortgage, have a game plan - the banks do
3 Reasons Banks love VRM now
1. Variable rate hikes = priced into markets
2. When VRM rises, account savings rates rise slower, profiting banks
3. Many will lock variable at less discounted fixed rates,
🇨🇦's 88,000 jobs gain in May shows economic resilience, but good news is bad news for mortgage rates
Stronger employment increases inflationary and BoC rate hike pressure
The BoC is 95% likely to hold on Wed - but hawkishly - cautioning potential for hikes
More below 👇
🚨BREAKING🚨 After 4 months of consecutive job losses, the 🇨🇦 economy added 88,000 in May, reducing the unemployment rate by 0.3% to 6.6%
Gains were concentrated in construction and service sectors, while sectors more exposed to trade remain soft going into CUSMA negotiations
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