Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).
Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.
- A New Record-Low Canadian Mortgage Rate (RATESDOTCA)
- Fed holds interest rates near zero, sees faster growth and higher inflation (CNBC)
- The Fed downplays rising inflation citing temporary “base effects” (i.e., abnormally low inflation last year). But according to Bank of America, “5-year forward inflation swaps are pricing inflation consistent with the highest we have seen the past five years.”
- Bank of Canada unfazed by short-term inflation increase (The Globe & Mail – Subscription)
- Take the over on Canadians spending only 15% of accumulated pandemic savings, post lockdowns.
- The housing boom is ripping apart the financial fabric of Canadian life (The Globe & Mail – Subscription)
- Parents have a new financial burden, Carrick says, “making sure your adult kids get into the housing market.”
- Who’ll be most affected by the stress test hike? (Mortgage Broker News)
- A Pre-Approval Does Not Guarantee a Mortgage Approval (Canadian Mortgage Trends)
- Toronto’s luxury market is dominated by buyers looking to expand (The Globe & Mail – Subscription)
- “We anticipate some cooling in sales starting in the second half of the year as rising interest rates begin to bite.”—TD