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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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Goeasy share price decline before Easter weekend🫣
If it weren't for the Iran war, a BoC rate cut would likely be on the table for 2026
Deloitte Canada cuts GDP forecast by 20% amid 'wobbly' economy
"We're making a couple of pretty big assumptions," says the firm's chief economist.
ca.finance.yahoo.com
Mortgage renewal and refinance applications surge as fixed rates increase
According to one major bank, they are receiving over 3,000 apps/day from Brokers alone, with a maximum daily channel capacity of 500
However as bond yields level off, fixed rate increases should ease
RBC cuts earnings targets at Canadian banks as home values are expected to drop
RBC cuts bank price targets, says valuations 'may have gone a little too far'
Fundamentals remain strong, analyst notes, but history points to valuation limits.
ca.finance.yahoo.com
Financial markets are currently pricing in an 89% chance of a 0.25 BoC hike by Jul 15, and a 99% chance of 0.50 hikes by Dec 9
Smartest move is to get a 4-month fixed rate HOLD
If oil/ bond yields drop, cancel the hold - a rate hold is risk free
See infographic for more...
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 thats just what financial market odds are predicting
Will hikes actually happen?
Rate hikes in
🚨 BREAKING: February CPI/Inflation came in at 1.8%, led by lower energy costs
Excluding energy, inflation was 2.6%
Its likely that the March CPI print will show a dramatic increase in energy costs, pushing inflation above 3%
Fixed mortgage rates have moved up 0.10 - 0.15%
Shares of Canadian subprime lender Goeasy fall 50% on guidance of surging loan defaults and write downs
Sub prime lending is often first to drop near the end of a credit cycle
This could be a canary in the coal mine for mortgage defaults and power of sales
Fixed mortgage rate hikes of ~0.20% are imminent in the coming days
According to Morgan Stanley, a 30% oil price shock could lift headline inflation by ~1% within 3 months
Market odds are currently volatile, but are now leaning towards a 0.25% BoC hike within the next year
We are Mortgage Brokers proudly serving customers from 5 locations in Ontario.
Kitchener/ Waterloo (Head Office)
In Kitchener Waterloo Call: 1-877-248-9210
Hamilton
In Hamilton Call: 905-538-0677
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