Dr. Sherry Cooper is Dominion Lending Centre’s Chief Economist.  We love to share her insights!  Hou can click on the video to watch the full update and the link to read her latest article.
DR SHERRY COOPER’S UPDATE – “HAWKISH HOLD BY THE BANK OF CANADA”

Our economy has slowed, parts of the world are in turmoil, and interest rates are still high.  Here are some of my hilites from Dr. Sherry’s Update.

🐌 The Canadian economy has slowed
📈 Inflation is holding at approximately 3.7%/3.8%
⬇️ Mortgage originations are down
⬇️Job vacancies are down
⬇️Food inflation is down (The prices are still high, but at least not increasing, much)
⬇️ Home sales are down 3 months in a row (nationally)
⬆️ 35% increase in listings (nationally)
⬆️ Consumer insolvencies are up
⬆️ Business insolvencies are up.
⚡Energy prices are the main contributor to inflation since June 2023
🔥 The US economy is hot and as always affects Canada.
💪 Employment in Canada remains strong
💸 Government budget deficits mean more interest is being accrued

🔮 What does it all mean?  No one has a crystal ball and everyone’s situation is unique.  The best thing to do is be informed and prepared.
✅ Contact us for a review of your existing mortgage
✅ Contact us for a 2nd opinion regarding a mortgage pre-approval
✅ Know your numbers and do your household budget
✅ Try to eliminate as much consumer debt as possible
✅ Eliminate unnecessary expenses
✅ Lower necessary expenses (shop around, clip coupons, watch for sales)

Watch and enjoy the presentation below.

DR SHERRY COOPER’S UPDATE – “HAWKISH HOLD BY THE BANK OF CANADA”

Contact us today for your next mortgage