Despite softening origination activity, mortgage professionals should welcome the current "reset" to healthier market conditions.
Despite raising interest rates by 300 basis points with five consecutive hikes this year, the Bank of Canada confirmed on Thursday that rates need to go higher yet.
Prospects for the Bank of Canada's desired "Goldilocks" outcome of a soft landing for Canada's economy is growing dimmer, according to a new report from RBC.
Led by a drop in gas prices, Canada's annual inflation rate eased to 7.6% in July, according to data released by Statistics Canada.
Bond yields dove over 30 basis points on Friday as economic worries start to replace inflation concerns.
Despite June's headline CPI inflation reading rising to a near-40-year high, it was less than markets had expected.
Having been behind the inflation curve for many months, the Bank of Canada today tried to get ahead of it by delivering a surprise 100-bps rate hike.
Markets and economists alike overwhelmingly expect the Bank of Canada to lift its policy rate by 75 basis points when it meets this Wednesday.
Rapidly rising interest rates and other economic headwinds mean it's becoming increasingly likely Canada will enter into a recession.
Fixed mortgage rates are back on the rise after Canadian bond yields surged to a 13-year high on Wednesday.
