I need to lower my monthly mortgage payments. Is extending my amortization period a good idea? Nov 16th
My mortgage payments are approaching my trigger rate. How will this affect my mortgage and what should I do? Nov 7th
The Latest in Mortgage News: Recent hikes are “painful” for variable-rate mortgage borrowers, says BoC Nov 25th
His forecasts have always proven uncannily accurate, which is why he’s always been my go-to resource for what the Canadian economy can expect next. As always, his insights at the conference were extremely poignant. He painted a crystal clear picture of how we got here, what’s currently happening, and what’s to come.
Now, I’d like to share that picture with you.
The Inflation Crisis
It’s no secret to anyone that’s bought anything recently: inflation has gotten out of hand. The Bank of Canada has swiftly responded with aggressive rate hikes aimed at cooling the economy and bringing inflation down…
Part 1 of this series dives into the forces he believes are impacting inflation. These include international economies as well as lasting effects from the pandemic. There’s one factor however that I believe is most responsible for our current economic climate and is worthy of a larger conversation: the labour market.
Where Are All The Workers?
There are currently 1 million vacant jobs in Canada. Considering our relatively smaller population of 38 million, this is a huge number. So what’s stopping these positions from getting filled? To start, a shocking amount of people are battling long COVID…
How much debt does the average Canadian carry?
The average credit card debt Canadians had in September 2022 was $2,121, according to Equifax. And another report the Canadian credit bureau, Canadian consumer debt has risen to $2.32 trillion, with an average debt load of approximately $21,000—excluding mortgages. These numbers represent an increase of 8.2% over last year, and 6.4% between the first and second quarters of 2022. And Canadians are using credit cards more, as there was a 6.4% increase in credit balances from the first quarter to the second…