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The Friday Finale!

   

August 4th, 2023

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:

Canadian Mortgages to Surge Higher as Bond Yield Hits 16 Year High

Buckle up, Canadian mortgage rates are about to climb even further in the coming weeks. The Government of Canada (GoC) 5-year bond yield closed Thursday at a 16-year high. The yield directly influences a key mortgage rate, meaning interest costs are about to head in this direction as well. At least one Big Six bank anticipates this yield surge will slow home prices and sales even further.

Chrystia Freeland says Ottawa will 'Work Harder' to Provide Relief to Victims of N.S Flooding

The federal government will pick up its pace in providing disaster relief to parts of Nova Scotia hit by last weekend’s flooding, deputy Prime Minister Chrystia Freeland said Thursday after she viewed a bridge shattered by torrential rainfall.

Canada's Government Spending Helped Interest Rates Soar: BMO

Canada’s economy has been a raging inferno of excess demand, and policymakers are throwing gas on it. That was the take in a new BMO Capital Markets memo warning that Federal spending is outpacing the country’s economic output, contributing to excess demand and higher inflation. As a result, the bank warns that interest rates have had to climb much higher than expected, as monetary policy attempts to curb the issues created by fiscal policy.


Canada's Temporary Resident Surge Needs Better Targeting, Creating Housing Chaos: RBC

Canada turned to millions of temporary residents to solve its coming demographic shift, but will it work? RBC Economics has released a new analysis discussing the country’s recent surge in temporary residents. These temporary residents are providing essential labor, helping to resolve the sudden shortages after pandemic stimulus. However, the programs need better targeting, as the current inflow fails to meet the needs of critical industries while placing more demand pressure on areas like housing.

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:

Unlocking Home Equity: A Comprehensive Guide to Reverse Mortgages in Canada

As Canadian homeowners approach retirement, they often seek ways to tap into their most significant asset – their home – to secure financial stability during their golden years. Reverse mortgages have emerged as an increasingly popular option, providing a lifeline to retirees looking to unlock the equity in their homes. In this blog post, we will delve into the concept of reverse mortgages, how they work in Canada, their benefits and potential drawbacks, and important considerations for those considering this financial option.

   
   

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