Bank of Canada Recalibrates Quantitative Easing
Posted on Oct 28, 2020 in Mortgage News
As expected, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will continue to rely on large-scale asset purchases--quantitative easing (QE). The central bank is recalibrating its QE program as promised in recent w...Bank of Canada Interest Rate Announcement
Posted on Oct 28, 2020 in Mortgage News
The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, though re-calibrated to target longer-term bonds and slightly scaled back from purchasing $5 billion per week in Government of Canada bonds to $4 billion per week...Canadian Inflation (September 2020)
Posted on Oct 21, 2020 in Mortgage News
Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 0.5% in September year-over-year, up from the previous month's increase of 0.1%. Excluding gasoline, the CPI rose by 1.0%. Prices rose in six of eight components year-over-year with notable increases in shelter (1.7%), food (1.6%), and health/personal care (1.6%), while price...Commercial Real Estate Sales Update - Q2 2020
Posted on Sep 28, 2020 in Mortgage News
Commercial real estate sales decline in the second quarter
As the COVID 19 pandemic intensified in the second quarter of 2020 (Q2), the Lower Mainland’s commercial real estate market experienced fewer sales while dollar values fluctuated depending on property type.Commercial real estate sales totalled 324 in the Lower Mainland in Q2 2020, a 26.5 per...
Bank of Canada Interest Rate Announcement
Posted on Sep 09, 2020 in Mortgage News
The Bank of Canada held its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, with large scale asset purchases of at least $5 billion per week in Government of Canada bonds. In the statement accompanying the decision, the Bank noted that th...Commercial Activity Impacted by Pandemic in 2020 Q2
Posted on Sep 01, 2020 in Mortgage News
The BCREA Commercial Leading Indicator (CLI) continued to fall in the second quarter of 2020 from 127.6 to 121.9, representing the fourth consecutive quarterly decline. It was the second largest drop in the indicator in over two decades, reflecting the hardest hit months of the pandemic in April and May. Compared to the same time last year, the ind...