Hi ,

Happy Friday! March Break is the perfect time for parents to spend quality time with their kids, and one of the best places to visit in Toronto is the Royal Ontario Museum (ROM). With kids off school for the week, families are often looking for engaging and educational activities that also offer some fun. The ROM provides an exciting mix of history, science, and culture, making it a fantastic destination for children of all ages. Whether it’s exploring dinosaur fossils, marveling at ancient Egyptian artifacts, or engaging in interactive exhibits, there’s plenty to keep kids entertained while they learn.

During March Break, the ROM often hosts special events and activities tailored for families.

The Bank of Canada recently reduced interest rates by 25 basis points to 2.75%, marking the seventh consecutive cut. This decision comes amid significant economic uncertainty caused by U.S. President Donald Trump's tariff policies. The central bank has now lowered rates by a total of 225 basis points since they peaked at 5% in July 2023. Economists are divided on the future trajectory of interest rates, with some predicting further cuts to stimulate economic growth in the face of trade disruptions.

Economists from CIBC Capital Markets and Capital Economics suggest that the Bank of Canada may need to cut rates further, possibly two or three more times by the summer. Avery Shenfeld from CIBC notes that the rate cut is a temporary measure to address the economic slowdown caused by U.S. tariffs. He anticipates that growth, rather than inflation, will be the primary concern, leading to additional rate reductions. Stephen Brown from Capital Economics also forecasts three more cuts, bringing the interest rate down to 2% by July, despite the Bank of Canada's caution about the inflationary risks posed by tariffs.

David Rosenberg of Rosenberg Research highlights that the Bank of Canada is more focused on the economic threats posed by tariffs, including impacts on the labor market and wage growth, rather than inflation. He believes that the price increases from tariffs will initially reduce real personal incomes, leading to disinflation and necessitating further rate cuts. Bryan Yu from Central 1 Credit Union also expects economic weakness to push the Bank of Canada to lower the policy rate to 2%, emphasizing that the central bank cannot fully offset the effects of a trade war with monetary policy alone.

Source: https://financialpost.com/news/economy/where-bank-of-canada-interest-rates-go-next

RBC says it’s ready for competitive spring mortgage market and upcoming renewal wave.

As the spring mortgage season approaches, RBC is gearing up for a significant wave of mortgage renewals by enhancing its digital services. The bank has streamlined the renewal process through its mobile app, enabling clients to secure terms and sign documents within minutes. This initiative aims to strengthen client relationships during this competitive period.

Between 2025 and 2027, approximately 1.2 million mortgages are set to renew in Canada, with RBC accounting for $353 billion of these renewals. Many of these borrowers had previously locked in low fixed rates during the pandemic. RBC anticipates that clients renewing in 2025, currently averaging rates of 3.60%, may experience an average monthly payment increase of $513, or 22%. Despite these challenges, RBC maintains a disciplined approach to mortgage growth, focusing on client retention and prudent pricing strategies.

Source: https://tinyurl.com/2m9yncmy

Feel free to reach out if you’d like to discuss how these changes could affect your homeownership goals!

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