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The Friday Finale!

   

January 19th, 2024

Welcome to our newsletter, The Friday Finale!  A simple, quick snapshot of information for you!  Below are recent highlights of news over the past two weeks. 

   
     

Links to News:

Loblaws will No Longer Offer 50% Discount on Expiring Food Products

If you've been trying to save money on your grocery bill by waiting until food is marked down to 50 per cent, get ready for some sticker shock on your next visit to a Loblaw-owned grocery store.

According to an email from Loblaw Companies Ltd. reviewed by CBC News, it will no longer discount perishable foods like meat, fruit, and vegetables by 50 per cent as they near their expiration date.

National Home Sales See First Monthly Increase Since June

December saw Canadian home sales increase on a month-over-month basis for the first time since last June as expectations of impending interest rate cuts began to strengthen.

New Canadian Real Estate Association (CREA) data showed that home sales across the country rose unexpectedly by 8.7% last month, with supply also tightening as the number of newly listed properties fell by 5.1% compared with November.

Big Banks Slash Mortgage Rates This Week To Reflect Lower Bond Yields in Canada

Nearly all of the country’s big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%).

As we reported last month, countless lenders have been dropping fixed mortgage rates to bring them in line with funding costs following a sharp decline in bond yields, which lead fixed mortgage rate pricing.

CEO Reveals Big Mortgage Trend for 2024

It’s no secret that a big wave of mortgage renewals is beginning in 2024 – and higher interest rates could spur a major trend of Canadians shopping around rather than simply renewing with their existing lender, according to a prominent mortgage industry CEO.

Jesse Abrams (pictured), co-founder of the Homewise digital brokerage, told Canadian Mortgage Professional that borrowers were likely to spend more time searching for the best renewal deal than they might if rates were still at or near the level they originally signed at.

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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:

Understanding Interest Rate Differential (IRD) in Canadian Fixed Rate Mortgages

When you close a fixed-rate mortgage before its maturity date in Canada, you might encounter a term known as the Interest Rate Differential (IRD). This financial concept often puzzles homeowners, so let's break it down in this blog post.

   
   

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