Dan Macor-Mortgage Advantage West

09/02/2026

Bottom Line

The Bank of Canada has shown its willingness to bolster the Canadian economy amid unprecedented trade uncertainty and a record oil price shock. PM Carney is also working to diversify Canada's trade away from the US, a strategy that has been remarkably successful so far. Canadian export diversification is gaining momentum. In addition, goods imports are also shifting away from the US to the rest of the world.

We maintain our view that the Bank of Canada will keep rates steady this year. If inflation broadens and accelerates, rate hikes are possible, but that is not our baseline forecast. The Bank of Canada will be reluctant to tighten into housing market weakness. While housing activity strengthened since May, momentum is muted, and affordability improvements are likely to taper off in the coming months.

The Federal Open Market Committee meeting is scheduled for September 15-16. Based on comments from Fed Chair Kevin Wash at the annual Jackson Hole Fed confab, a rate hike by the Fed is likely. Traders now predict a 68% chance of a fed funds rate hike of 25 bps.

Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres

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08/11/2026

If your home is within the evacuation area or your work is disrupted due to the fire situation. Please reach out to me directly or to your lender. I am not exactly sure what relief will be available in regards to your mortgage, but I will certainly help you to find the information.

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07/21/2026

So this happened! Hooray me!

06/10/2026

If you do not have tickets for this yet, you need to get some. It's a fantastic show put on by a very talented artist. Amanda and her band absolutely nail this. Penticton is in for treat with this show.

https://www.facebook.com/share/v/1BMvA36ZYp/

06/10/2026

Bottom Line

The Bank of Canada has shown its willingness to bolster the Canadian economy amid unprecedented trade uncertainty and a record oil price shock. Ottawa, too, has taken actions to reduce the burden of higher prices on Canadians by temporarily eliminating the excise tax on oil. PM Carney is also working to diversify Canada's trade away from the US, a strategy that has thus far been remarkably successful. As the charts below show, Canadian export diversification is gaining momentum. In addition, goods imports are also shifting away from the US to the rest of the world.

We continue to maintain the view that the Bank of Canada will keep rates steady this year. If inflation broadens and accelerates, rate hikes are possible, but that is not our baseline forecast. The Bank of Canada will be reluctant to tighten into housing market weakness. While housing activity strengthened in May, momentum is muted, and affordability improvements are likely to taper off in the coming months as trade tensions and the war keep oil prices and interest rates elevated.

Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres

06/05/2026

Bottom Line

These blockbuster jobs reports, accompanied by inflation risk stemming from high tariffs and the war in Iran blocking the Strait of Hormuz, are troubling for both stocks and bonds.

The relative weakness of the Canadian labour market will discourage the Bank of Canada from tightening monetary policy too soon. To be sure, inflation remains a risk as higher energy costs become embedded in the price of a wide array of goods and services. The Bank will be reluctant to respond with rate hikes over the next few announcement dates.

Trade negotiations are accelerating as the future of CUSMA is determined. It is hard to imagine the Bank of Canada tightening in the face of such a weak housing market. Early evidence suggests housing activity picked up in May, but the sector remains vulnerable to rising interest rates. Although both the Fed and the BoC have remained on the sidelines so far this year, market-driven interest rates have risen considerably owing to the sharp rise in inflation pressures. Housing is a much larger component of economic activity in Canada than in the US. The Bank of Canada, therefore, will be particularly leery of tightening monetary policy. We hold to the view that central bank rate hikes in Canada and the US are unlikely this year.

Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres

04/20/2026

Bottom Line

It is very good news that the inflation backdrop softened last month, before the onslaught of the Iran war and the oil price shock. Some of the weaker base effects will be evident in the March CPI data as well, mitigating the impact of soaring energy and commodity prices on this month's headline inflation number.

The Bank of Canada and the U.S. Federal Reserve will remain on the sidelines at the next statement date on April 29, as a relatively quick end to the Iran war would keep a lid on inflation. President Trump has asked NATO countries to send warships to the Middle East to help open the Strait of Hormuz. The sooner the war ends, the sooner the oil price shock will dissipate. Given the uncertainty, the central banks will do best to keep their powder dry this time around, particularly given that labour markets in both countries have weakened substantially.
Dr. Sherry Cooper
Chief Economist, Dominion Lending Centres

03/07/2026

Need a great place at an affordable price? This is the one. Give Kevin Kole's Real Estate News a call to learn more.

02/20/2026

Any mechanics out there looking for work?

02/09/2026

Thanks to all of you for your support along the way!