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Inflation gave the rate market a breather, undershooting estimates on both headline and average core measures. But this is not a dovish report. Thus, Macklem’s finger is probably closer to the snooze button than the rate cut button.

More Canadian homebuyers tiptoed into the market last month. It was enough for realtors to claim a small victory and give lenders a lift in purchase business.

The sales uptick drew applause from the real estate cheering section, even though month-over-month price moves—in most markets (not all)—ranged from half-hearted to clinically depressed.

For more, here's the monthly read of CREA data, reality check included.

If you’ve been around the mortgage game long enough to remember when people still used fax machines, Greg Williamson has likely crossed your radar. He used to be a broker, then he got into broker training with 180 Degrees Coaching, then he co-founded Finmo in 2017, then he sold it to Lendesk in 2020.

Now he’s returned, launching a YouTube broker help series called the Inspired Founders Club (link).

Typically, I skim right past this sort of content—not because it lacks merit, but because there's so much of it out there, it's hard to keep up.

But I’ve got a soft spot for perceptive thinkers, and Williamson is a guy with more than a few spare brain cells. He's always been an engaging speaker, and the vids were free, so what the hell.

What was most impressive wasn’t his advice—there are educators in this business with more experience and success (we'll have an interview with a $350+ million producer/trainer for you soon).

It was more Williamson's willingness to showcase his journey and setbacks with a disarming honesty. We all have defeats, but few are open enough to let you learn from their mistakes in real-time. Williamson does that in a manner that's not contrived, with a humble sense of humour and in a way that inspires.

For homeowners who need cash but either can’t charm a lender or don't want payments, there are options. But few consider this particular option: the Home Equity Sharing Agreement (HESA).

Home Equity Partners (HEQ) is one of a handful of purveyors of HESAs in Canada. We caught up with its CEO and founder, Shael Weinreb, to pin down who they make sense for, and who should run in the other direction.

Weinreb's Inspiration

"HESAs are one of the first non-debt investment-type products for Canadians to access equity in their homes,” Weinreb explains. His inspiration for starting this business was a major bank, the one that denied his 80-year-old, retired father a 10% LTV HELOC on a $2 million home.

"My father desperately needed the money at the time," Weinreb recalls. "He was declined despite being a loyal customer at the bank for 40 years. It put a lot of strain on our family."

So Weinreb decided to launch a product his dad could have qualified for at the time, the HESA.

What's a HESA?

For the crew at the BoC, Canadian inflation is always paramount. U.S. CPI plays second fiddle, but with its 0.82 correlation to Canadian CPI since 1991, America's bearing on Canadian price levels is undeniable.

That's why today's acceleration in U.S. core inflation feels a bit unerving, kinda like finding out your “quiet” neighbour is hoarding fireworks.