March 4, 2020

Category: About Sherry Articles Media Reporting on Sherry

Interest Rates Nosedive as Bank of Canada Cuts Rates 50 bps

The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to do more if necessary. The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that…

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March 3, 2020

Category: About Sherry Articles Media Reporting on Sherry

Fed Emergency 50 BP Rate Cut

TheĀ Fed Brings Out The Big Guns In a remarkable show of force, the US Federal Reserve jumped the gun on its regularly scheduled meeting on March 18 and cut the target overnight fed funds rate by a full 50 basis points (bps) to 1%-to-1.25%. This now stands well below the Bank of Canada’s target rate…

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February 28, 2020

Category: About Sherry Articles Media Reporting on Sherry

Virus Anxiety and The Canadian Housing Market

Virus Anxiety and The Canadian Housing Market As though things weren’t volatile enough, a new wave of virus terror is wreaking havoc on global financial markets. The novel conronavirus, COVID-19, continues to spread causing panic in worldwide stock and bond markets for the seventh day. Share prices have plummetted in Asia, Europe, the U.S. and…

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February 18, 2020

Category: About Sherry Articles Media Reporting on Sherry

Morneau Eases Stress Test On Insured Mortgages

Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to…

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February 18, 2020

Category: About Sherry Articles Media Reporting on Sherry

January Home Sales Slow Mostly Owing To a Dearth of New Listings

Home Sales Slip A Bit In January As Supply Tightens Pushing Up Prices Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between December and January owing to a dearth of new listings, especially in the GTA. As the CREA chart below shows, the pace of monthly home…

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February 7, 2020

Category: About Sherry Articles Media Reporting on Sherry

Another Strong Canadian Employment Report In January

January Starts 2020 With Strong Canadian Job Growth January follows December in erasing the weak November job numbers providing good news for the Canadian economy. Manufacturing led the way as the jobless rate fell, and wage growth accelerated meaningfully. The robust labour market, coupled with consumer confidence holding firm in January at about historical averages,…

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February 4, 2020

Category: About Sherry Articles Media Reporting on Sherry

TD Lowers Qualifying Mortgage Rate 35 bps To 4.99%

TD lowers Posted Mortgage Rate to 4.99% Market interest rates have fallen sharply since the coronavirus-led investor flight to the safety of government bonds. The 5-year government bond yield–a harbinger of conventional mortgage rates–now stands at 1.34%, down sharply from the 1.60+% range it was trading in before the virus became global news (see chart…

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January 29, 2020

Category: About Sherry Articles Media Reporting on Sherry

Interest Rates Plunge on Coronavirus News; BoC Buys 10-year CMBs; FTHBI Plan Flops

Canadian 5-year Yield Fell To Lowest Level Since October Global investors are selling stocks and piling into the safety of bonds in response to fears that the Wuhan coronavirus could disrupt global economic activity. Gold prices, another haven, have also risen. The Government of Canada 5-year bond yield traded this morning at roughly 1.35%, well…

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January 22, 2020

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Holds Steady Despite Economic Slowdown

Bank of Canada Holds Steady Despite Economic Slowdown In a more dovish statement, the Bank of Canada maintained its target for the overnight rate at 1.75% for the tenth consecutive time. Today’s decision was widely expected as members of the Governing Council have signalled that the Bank still believes that the Canadian economy is resilient,…

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January 15, 2020

Category: About Sherry Articles Media Reporting on Sherry

Weak New Listings Slow Canadian Home Sales as Prices Continue to Rise.

Sellers Housing Market Now in the Greater Toronto Area (GTA) Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in the final month of 2019, ending a…

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