Date: January 1, 2023

Category: Newsletter

Happy 2023! Let’s make this a fantastic year!

2022 was a little tricky for some, especially those with adjustable-rate mortgages.

It was a year of second-guessing ourselves, waiting for the other shoe to drop and taking the time to revise and adapt to our 2022 plan.

Now with 2023 well underway, let’s review a few things.

What should we expect in terms of rates? The Bank of Canada’s overnight rate currently sits at 4.25%. Core inflation remains stubbornly high, and the labour market remains strong, particularly after adding another 104,000 jobs last month, of which 85,000 were full-time. Many economists expect the BOC to make one last .25% increase next week and then pause to assess the cumulative impact of a year of dramatic tightening. Keep an eye out for our update this week after the BOC’s announcements on Jan 25th.

Home price: a factor that supports home prices is the supply of homes versus demand. We have yet to reach a point where homes listed for sale exceed demand; when and if this happens, that’s the point we will see home prices drop considerably. We are in a different situation from what I see today; Canada needs help with an acute, long-term housing supply shortage.

Support: sometimes, it takes something like a pandemic to show us that we can ask for help without judgment. If you have questions, are struggling or want to look at options, please continue to keep the communication going. There is no denying that 2022 was a challenging year; however, I see us as stronger for it. We have become more communicative about needing support, advice, and general help, so I want to ensure we keep this going in 2023.

Renewals: If you have a renewal coming up anytime this year – connect immediately. Reach out to us now, and let’s ensure you have all the information you need to make the right decision.

Over the last year, you have shared our newsletter with your friends, family and co-workers, allowing us to help more people make the right financial decision. Thank you for your continued trust; it really does mean the world to us.

Ana can be reached at 905.870.0513 or you can email her at

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Mortgages can be complicated; we are here to help you make “cents” of it.

We focus on Mortgage Solutions, Period!

To learn more connect with Ana Cruz 905.870.0513 or email at