Latest News Trish Pigott 4 Jun
Todays report and insight is provided by Dr. Sherry Cooper, Chief Economist, Dominion Lending Centres. As expected, the Bank of Canada held its benchmark interest rate unchanged at 2.75% at today’s meeting, the second consecutive rate hold since the Bank cut overnight rates seven times in the past year. The governing council noted that the […]
Read MoreGeneral Trish Pigott 4 Jun
The Bank of Canada left rates unchanged as there was not enough reason to make another reduction given everything that is going on economically across the country and down south. The bank noted that the unpredictability of what’s happening with tariffs, lowered the risk to growth and a possible increase to inflation, determining that they […]
Read MoreLatest News Trish Pigott 12 Mar
Bank of Canada Cuts Policy Rate By 25 BPs The Bank of Canada (BoC) reduced the overnight rate by 25 basis points this morning, bringing the policy rate down to 2.75%, within the neutral range of 2.25%—2.75%. Tariff tremors have already led to a decline in consumer confidence and spending, a weakening labour market, and […]
Read MoreGeneral Trish Pigott 6 Mar
UPDATE 3/6/25: Just as I was about to send this apparently Trump has paused the tariffs to Mexico and now Canada until April 2. Good grief….how does anyone keep up with this…either way here are some tips below if he is back at it next month on how to handle your mortgage and potentially take […]
Read MoreLatest News Trish Pigott 12 Feb
Wondering how you may be impacted by potential tariffs and the threat of an economic trade war? We are definitely in an economic time that we haven’t seen before and just when we think mortgage rates and the real estate market are normalizing after the pandemic, we get the Trump tariff shake up. In a […]
Read MoreGeneral Trish Pigott 12 Feb
On January 29, 2025, there was some welcoming news from the Bank of Canada (BoC) as they kicked off the first announcement of the year with a .25% rate cut. This affects our Variable Rate mortgage holders and anyone with loans attached to the prime rate. As of tomorrow the Prime rate with most banks […]
Read MoreLatest News Trish Pigott 11 Dec
Things are getting easier for First Time Home Buyers (FTHB) to qualify and have more flexibility with payments when getting into the market. Effective Dec. 15, 2024, FTHB can now purchase a home up to $1.5M with an insured mortgage. This was previously capped at $1M and as home values in the Vancouver market have […]
Read MoreLatest News Trish Pigott 11 Dec
Good news this morning for our Variable Rate Mortgage holders and anyone with a loan attached to the Prime rate. Today it was cut by .50% effective tomorrow which in turn will lower mortgage and loan payments. For those with static payments, such as mortgages with TD, RBC and others, you will now be paying […]
Read MoreGeneral Trish Pigott 25 Nov
Did you know about these valuable opportunities for buyers of New Construction property with an Insured Mortgage? Energy Efficiency Refund: A Hidden Benefit Clients securing an insured mortgage for a new build with energy-efficient certification are eligible for a 25% refund on the default insurance premium. In British Columbia: Most new builds must meet BC […]
Read MoreLatest News Trish Pigott 23 Oct
As expected, the Bank of Canada cut the overnight target rate by .50%. The largest cut we have seen since the pandemic and well deserved for our Variable Rate Mortgage holders (including me) who have continued to ride out the past two years. Inflation and all economic data supported this rate cut. DLC’s own economist, […]
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