What is affecting Maple Ridge Real Estate this morning from a national perspective? Well this is what Maple Ridge Realtors need to know: Markets are on the rebound from yesterday's sell off. All of the North American equities were up in the early going. Bond yields are down 1 - 2 bps.
Canada is the source for economic data today and it's a little softer than expected. Consumer inflation for May clocked-in at an annual rate of 0.7%, up from 0.4% in April. Core inflation — stripping out volatile items such as some food and energy products — was unchanged at 1.1%, compared with forecasts of a 1.2% gain.
Canadian retail sales for April ticked up one notch, rising 0.1% over March. Slower sales at gas stations offset gains at car dealers. Six of 11 sub-sectors reported increases. Sales volumes rose 0.5%.
In Canada, 95,000 jobs were created in May. Jobs are the centre of attention today, with most interest focused on the United States in Canada that's the biggest increase in a decade and well above the 15,000 forecast. Most were full time positions in the private sector. The unemployment rate is down one-tick to 7.1%.
In the U.S. the May, non-farms payroll report beat expectations. 175,000 jobs were created. The unemployment rate moved up a notch to 7.6% as more people started looking for work.
The numbers appear to please Wall Street. U.S. markets all opened higher. The TSX continued its losing streak. Bond yields are unchanged to +2 bps.
Commercial Bond Yields
Canada Mortgage Bond
Canada Housing 12/15/18*: 2.17%
Canada Housing 09/15/23*: 2.85%
* denotes interpolated rate
Select Government of Canada Bonds
CAN 4.25 06/01/18: 1.73%
CAN 1.50 06/01/23: 2.32%
GOC Bonds are for reference purposes only
Floating Insured Cost of Funds
Bank Prime Rate
Posted Rate (not discounted by a mortgage broker yet)
1 Year: 3.09%
2 Year: 3.14%
3 Year: 3.65%
4 Year: 4.54%
5 Year: 5.14%