| | | | | | | | Welcome to our newsletter, The Friday Finale! We wanted to offer a simple, quick snapshot of information for you! Below are recent highlights of news over the past two weeks. Look for this to come out on a bi-weekly basis on FRIDAYS.
Cheers!! | | | | | | Inflation Rate Unexpectedly Increased in April, Jumping up to 4.4% | Canada's inflation rate reversed its cooling trend last month and moved higher, to a 4.4 per cent annual rate. Economists had been expecting new data released by Statistics Canada on Tuesday to show the cost of living had eased from March's 4.3 per cent pace to something around 4.1. Instead, it moved higher again, as the cost of things like gasoline, rent and mortgages increased during the month. It's the first acceleration in the cost of living since June of 2022, when Canada's inflation rate hit a more than 40-year high of 8.1 per cent. | | Canadian Mortgage Debt Growth is Finally Back to early 2020 Levels | Canadian mortgage debt is finally returning to normal just a year after rates began climbing. Bank of Canada (BoC) data shows households continued to slow down on the mortgage credit borrowing in March 2023. The growth rate has now returned to levels more typical of the 2010s—back when people thought they knew what a frothy real estate market looked like. | | | | Does Canada Really Need a Digital Loonie? | The Bank of Canada is wading into the fraught and controversial world of digital currencies, launching public consultations this week into how Canadians might use a digital dollar. "We've been researching a digital dollar for quite a while now," said Carolyn Rogers, the senior deputy governor of the central bank. "And we're at a point where we need help from Canadians, we need to understand what Canadians want."
| | Households Now Owe More than Canada's Entire GDP, Housing Agency Warns | Households in other countries are paying down debt, but that's not the case in Canada. Canadian households are more in debt than those in any other G7 country, and the amount they owe is now more than the value of the country's entire economy. That was one of the main takeaways of a new report from Canada's housing agency, the Canada Mortgage and Housing Corporation, which backstops much of the country's housing market via mortgage insurance.
| | | | The Green Effect Podcast!
| Finance, life, business and everything in between! Brand new content with just myself gabbing away about the real estate world, personal stuff going on in my life, stories as an investor, and whatever else! Come with me on the journey inside my head. | | BLOG POST: Green Thoughts | Most Recent Blog:Getting a Mortgage Pre-Approval
If you are looking for a new home, be sure you are pre-approved. | | | | | | | | | | | | | | |