The latest insight to keep in mind!

United States•   The steady stream of disappointing data releases continued this week.  Friday’s PCE report shows that household spending started Q2 on a weak note.  Meanwhile, slumping core capital goods orders highlights a continued softening in manufacturing activity.

•   Foreign factors – including the European debt crisis, discord in the Middle East and slowing growth in China – are all contributing to this spring slump.

•   However, as lending conditions improve and positive momentum continues in the job market, there are still plenty of reasons to remain optimistic about the recovery. 

Canada•   Despite ongoing focus internationally on developments in Europe, the week in Canadian financial markets was relatively quiet.  In turn, gyrations were small for S&P/TSX, the Canadian dollar, and the price of crude oil.  All eyes will be on the Bank of Canada interest rate decision and first quarter GDP numbers to be released on Tuesday.

•   We expect the Bank of Canada to stay on the sidelines, leaving the overnight rate unchanged at 1.00%.  The first twenty five basis point hike should take place in September.

•   First quarter GDP estimates are on track for a 4.7% annualized gain.  More moderate growth lies in store for the second half of the year. 

So far so good in the real estate and mortgage market. But the bank of canada is to make another rate call tommorow so keep an eye out. But it is thought that e are to remain the same until later this year. Either way my firm will be here to get you the best mortgage ofers then any of the banks can do for you.

Our latest rates

1 year fixed…2.75%…2 year fixed 3.29%…3 year fixed 3.49%…4 year fixed 3.64%…5 year fixed as low as 3.75%….5 year fixed for your home purchase 3.64%( wehn you buy through one of our approved realtors)


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