While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction.

Certain lenders and national brokerages have been gradually dropping rates for select terms since the start of the month. Average nationally-available deep-discount 5-year fixed mortgage rates are now about 20 basis points lower compared to earlier in the month, according to data from

The move follows the recent decline in the 5-year Government of Canada bond yield, which typically leads fixed mortgage rates.

The 5-year bond yield closed at 3.05% on Monday, bouncing back slightly from a 5-month low of 2.80% reached last week. Still, yields are down from about 3.40% four weeks ago and the 14-year high of 3.89% reached in October.

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3 Reasons you should use a mortgage broker vs going to your bank for a mortgage:

  1. Better Rates – Because lenders compete for our business, we get access to discounted rates based on volume and we pass these savings directly on to you.

  2. Access to more lenders - When you apply for a mortgage at a bank or credit union, you only have access to the products they offer in-house. With a mortgage broker, you get access to dozens of lenders.

  3. Our services are free – we are compensated by the lender.

If you have questions about your mortgage or home financing options, reach out to your Mortgage Alliance Professional. #Mortgages #MortgageAlliance


Central bank has been trying to wrestle sky-high inflation into submission. 

The Bank of Canada has raised its benchmark interest rate again, to 4.5 per cent.

The move was widely expected by economists as the bank tries to wrestle record-high inflation into submission.

It's the eighth time in less than a year that the bank has hiked its trend-setting rate, a move that will make borrowing money more expensive.

But at one quarter of a percentage point, it's also the smallest hike since March, and thus a sign that the bank may be done with hiking rates for the next little while. 

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After receiving input from downtown business owners, Lacombe city council approved a public consultation process targeting parking improvements in the downtown core.

The City says they often receive requests for more parking in the area. While they admit some requests cannot be accommodated due to space limitations, site lines and other considerations, the City says they do look to advance adequate access and to work with businesses whenever possible.

Administration evaluated improvements to two areas which will add an estimated 25 new parking stalls downtown:

  • The public parking lot at 5026 49 St (+8 parking stalls)

  • On-street parking along 49B Ave (+17 parking stalls)

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Tomorrow the Bank of Canada will make an interest rate announcement. If you have a fixed-rate mortgage that is renewing soon, the new interest rates could be an increase in your monthly payments, especially if your amortization period is short with a large balance remaining on your mortgage.

If you have a variable-rate mortgage and the prime rate goes up, you will likely see an increase in your payments to that they align with the new prime rates.

If you have any questions or need more information, reach out to your Mortgage Alliance Professional. 



Rising costs can be discouraging, nerve wracking and are completely out of our control! So, by trying to manage what you CAN control, like your day to day finances, it can help mitigate those feelings. Here are five ways to combat inflation;

  1. Tracking Your Spending: budgeting and understanding where your money is going is the easiest way to identify areas to cut back or find alternatives.

  2. Actively Manage Debt: It is important to pay off debt with the highest interest rate first, and then work your way down the list. 

  3. Utilize Cash Back Opportunities: Engage with your bank about cash back credit cards or bank accounts. That way you are making money while spending it.

  4. Coupons, Discounts and Sales Are Your Friends: There are apps that you can get and websites that showcase coupons/sales/ discounts for stores you frequently shop at.

  5. Avoid Volatile Investments: now is not the time to be taking risks on stocks for companies carrying a lot of debt.       



Canada’s headline inflation reading continued to fall in November, but core inflation rose, increasing the potential for an additional Bank of Canada rate hike in January.

The headline Consumer Price Index (CPI) continued to slow to an annual growth rate of 6.8% in November, just a tick down from 6.9% in October, according to data from Statistics Canada.

But the average of the Bank of Canada’s three preferred measures of core inflation, which excludes food and energy prices, rose to 5.4% from an upwardly revised reading of 5.3% for October.

“Inflation is easing, but progress in November was slower than expected,” CIBC economist Andrew Grantham noted.

While the headline reading eased slightly and was just a tick above the consensus expectation, “of greater concern to policymakers…is that the easing in core measures of inflation (including CPI-trim, median and ex food/energy) appears to have stalled at levels still above those that would be consistent with a 2% inflation target,” he added.

Rising interest costs helping to drive inflation

Rising shelter costs contributed to the higher-than-expected inflation reading, with overall shelter costs up 7.2% year-over-year.

Within that category, mortgage interest costs were up 14.5%, “amid the higher interest rate environment,” Statistics Canada noted. This was the largest increase for this category since 1983.

Rent, meanwhile, is 5.9% above year-ago levels, with the fastest acceleration regionally in Prince Edward Island (+12.6%), British Columbia (+7.2%), Quebec (+5.3%) and Ontario (+7.1%).

These increases were balanced by a continued moderation of “homeowners’ replacement cost,” which is related to the cost of new homes. That was up 5.8%, down from a peak growth rate of over 13.6% last December.

The “other owned accommodation expenses” basket, which includes real estate commissions, was up just 3.7% (vs. 12.2% in June and a peak of 17.2% in April) as home prices continue to decline.

Both of these indexes have been slowing every month since May, reflecting a “general cooling of the housing market,” StatCan added.

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Wishing everyone a Happy New Year!  My this year and beyond be filled with Joy, Peace and Love!

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