On Friday, November 23rd at 10am, the Bank of Canada issued a ‘market notice’ announcement with big implications. For the first time, the Bank stated that it would begin making innovative additions to its balance sheet: the purchase of mortgage bonds, or mortgage backed securities.
The news was not announced in a press conference or a press release, but a sleepy ‘market notice’ at the bottom of the Bank’s media/press page on its website.
So, What Are Mortgage Bonds?
Why Is The Bank Of Canada Announcement So Significant?
In yesterday’s Fall Economic Statement, Ontario Treasurer Vic Fedeli outlined that new housing units and previously unoccupied rental units would be exempt from the Wynne government’s rent control reforms.
Positive numbers marked the overall situation for GTA real estate. Both the detached and semi-detached home and condo markets saw positive figures. Condo prices rose 7.5% and semi-detached home prices were up 6.6%. The average selling price for a home rose past the $700K range where it has languished for roughly to hit $810K, This was the first significant increase in prices in over 3 months.
The Fed eases off on its tightening
Another blog, another rate hike. The BOC (Bank of Canada) announced on Wednesday that its overnight rate would be increased from 1.50 to 1.75%.
Bank Of Canada Plays It Safe
What Does This New Hike Rates Mean For You?
Few Ontarians know this, but hundreds of properties worth many billions of dollars are sitting empty across the province.
Ontario Provincial Government Has Way Too Much Office Space
Government Owned Real Estate Needs Be Managed Much Better
For this week’s blog, Tembo once again turns to one of our favourite topics, interest rates. Important news out of the United States once again requires unpacking for our readers.
What Will Higher US Interest Rates Means For Canadians?
On October 1st the Canadian federal government announced that an update of NAFTA had been achieved and that trade negotiations with the U.S. and Mexico had concluded.
Uncertainty over the potential dislocation and chaos of a bad deal or a breakdown in talks is now no longer a major concern. So, what happened? What is the new deal? And what did Canada get out of it?
Details About The New NAFTA Deal – Now Called The USMA
Who Got The Better Deal – Trump or Canada?
Yesterday, the Ontario Court of Appeal ruled that Bill 5, the Legislation passed by Premier Doug Ford’s government to reduce the size of City Council from a planned 47 seats to 25 is the law of the land.