Featured
Further Rate Cuts Likely
Last week, the Bank of Canada and the US Federal Reserve each cut their policy rate targets by 25 basis points. Below, we outline the rationale for these rate cuts and assess the likelihood of further easing, particularly as both countries face potential fiscal disruptions – a pending federal budget in Canada and the risk…
Read more
REITs Aren’t the Villains — What CMHC Analysis Reveals About Rental Housing
CMHC has recently come under fire for its research on REITs and rent control. In this note, we’ll focus on the REIT side of the debate. Over the past few years, numerous reports have argued that housing is being treated as a commodity, with financial firms acquiring purpose-built rentals and managing them with a primary…
Read more
Lower Rates? It Depends on Where You Look
While much of the current discussion around interest rates is focused on potential cuts in Canada and the US, it’s important not to overlook the longer end of the yield curve. Central banks can influence the short end, but further out, concerns around fiscal policy and inflation are built into the risk premium. Recently, longer-term…
Read more
Australia’s Home Guarantee Scheme – Part 2: Would It Work in Canada?
As part of its broader approach to housing affordability, Australia helps first-time buyers enter the market faster through its Home Guarantee Scheme, with programs tailored to different types of buyers. In part one, we broke down the scheme’s key programs and potential market implications. In part two below, we examine whether a similar approach could…
Read more
Jobs and Inflation – What Matters Most for the Mortgage Market
Canada’s labour market is deteriorating, with roughly 100,000 jobs lost over the past 2 months. Employment fell by 65,500 in August – significantly weaker than expected – marking a second consecutive month of decline and the steepest drop since the pandemic. The unemployment rate climbed to 7.1 per cent, its highest level since May 2016…
Read more
Australia’s Home Guarantee Scheme – Part One: Supporting First-Time Buyers
Canada is not alone in facing affordability challenges. Sweden, Norway, Australia, New Zealand and, more recently, the US are also grappling with a housing crisis. The average price of an Australian home has surpassed A$1m for the first time, highlighting the nation’s struggle with affordability. According to estimates released by the Australian Bureau of Statistics…
Read more
Tariffs Take a Bite Out of Q2 GDP
The Q2 GDP release offered the first real look at how the Canadian economy is coping with tariffs. The economy contracted by 1.6 per cent quarter-over-quarter annualized – a steeper decline than market consensus, but just a hair below the Bank of Canada’s forecast of -1.5 per cent. Net exports accounted for 8.1 percentage points…
Read more
Contact Us
Contact us today to set up an appointment.