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Market Commentary

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

1.20%

 

Bank Prime Rate

3.00%

 

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%

 

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The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.