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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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🚨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
Managing household wealth = running a business that supports your lifestyle - short and long term
Three pillars:
💰 Cash Flow - Trim expenses to free up capital for growth and investing
📈 Capital Allocation - Maximize long-term, risk-adjusted returns with a low cost, data
Low cost index based investing is widely considered a diversified and reliable long term wealth building strategy
A well operating Smith Maneuver strategy builds on this foundation, offering a strong likelihood of long term gains, but without the use of additional cash flow
Make your mortgage tax deductible ✂️
Pay off your mortgage years sooner 📉
Grow your wealth significantly 💵
With claims like these, its no wonder the Smith Maneuver has been getting more attention
People have a lot of questions about the Smith Maneuver, and I've had dozens
OK.... But how much weight should we put on the BoC estimate that they broadly missed by 1.5% in the quarter?
Bank of Canada says don’t put much weight on GDP data showing technical recession https://www.ctvnews.ca/business/article/bank-of-canada-says-dont-put-much-weight-on-gdp-data-showing-technical-recession/?taid=6a1db849a3539000015b26d1&utm_campaign=trueAnthem%3A+Trending+Content&utm_medium=trueAnthem&utm_source=twitter
What does 🇨🇦's recession mean for the BoC and mortgage rates?
Bond yield/rate pressure was down last week on the 1.5% GDP miss
However, oil reasserted its boss status over inflation pressure and mortgage rates Monday morning as Iranian war negotiations stalled
More below 👇
Financial markets and economists are divided on whether the Bank of Canada will hike in 2026
Markets currently project 0.25-0.50% hikes in 2026
Economists on the other hand, are mostly projecting a BoC hold
Who do you think is right?
Details in the link below:
BREAKING: 🇨🇦 CPI/inflation rose 2.8% in April, up from 2.4% in March
Excluding gas prices, inflation was 2.0% in April down from 2.2%
A softer 🇨🇦 economy gives the BoC room to look through volatility as high oil/gas prices are unlikely to re-ignite broader inflation near term
Unemployment in 🇨🇦 rose to a 6 month high in April of 6.9% with the economy losing 18k jobs
Analysts had predicted a net gain of 15,000 jobs and an unemployment rate of 6.7%
Bond yields dropped easing pressure on fixed mortgage rates, as expectations fell to 1 BoC hike in 2026
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