Skip to Main Content
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
Client Login
  • Home
  • About us
  • Services
    • Our solutions
    • Our clients
  • Market insights
  • Community
  • Contact us
  • Blog
  • CIBC.com
  • CIBC Private Wealth
  • CIBC Websites
  • Client Login
 CIBC Private Wealth, Wood Gundy  CIBC Private Wealth, Wood Gundy

Ryan Michalczuk

  • Home
  • About us
  • Services
    • Our solutions
    • Our clients
  • Market insights
  • Community
  • Contact us
  • Blog

Blog

Address 2510 Ouellette Avenue Suite 101 Windsor ON, N8X 1L4
Telephone Number (519) 972-2975
Email Email us
Email Email
Telephone Number Tel

CIBC Private Wealth

May 23, 2025

Money Wellness Education Financial literacy Economy Commentary News Weekly update
Facebook
LinkedIn
Twitter
Two businesswoman working and having coffee while collaborating on project and sharing computer.

Morning Market Brief

 

Sales of existing homes in the US declined for a second straight month. High mortgage rates and elevated home prices have weighed on demand. Plus, the uncertainty brought on by global trade tensions and how they might impact the US economy has pulled would-be buyers out of the market. The situation is much the same as it is here in Canada, where existing home sales have fallen each month this year amid a loss in consumer confidence towards the economy.

  • Sales of existing homes in the US declined by 0.5% to 4.00 million in April. This marked the worst April since 2009, which was during the Financial Crisis. April’s decline surprised economists who were expecting a 2.0% increase, based on a Bloomberg survey.
  • The US saw its lowest number of home sales in a month since October 2024. Potential purchasers appear to be restrained by already high home prices and elevated mortgage rates. Mortgage rates have not fallen substantially, due in part to the US Federal Reserve Board holding steady this year.
  • Earlier this week, the Mortgage Bankers Association of America (MBA) reported that mortgage applications dropped by 5.1% over the week ended May 16. The MBA also reported that the rate on a 30-year fixed-rate mortgage rose to 6.92% over the same week, the highest since February.
  • The US economy received a bit of good news yesterday, with S&P Global reporting that manufacturing sector activity accelerated in May.

The uncertainty of trade tensions has impacted many areas of the US economy, including the real estate market, which has seen sales falling over the past two months. The global economy faces an abundance of uncertainty as trade tensions persist. While trade negotiations have begun, it’s still unclear what the trade environment will look like after deals are reached, or potentially not reached.

If you would like to discuss this economic and market update or have questions about your finances and investments, please feel free to contact me anytime.

Related posts

CIBC Private Wealth

May 22, 2025

Two business people meeting at table with laptop.

Morning Market Brief

Fitch cautious on Canadian economy

Read more

CIBC Private Wealth

May 21, 2025

Advisor meeting with clients

Morning Market Brief

Consumer carbon prices come to an end

Read more
 
 
  • Rates
  • FAQ
  • Agreements
  • Trademarks & Disclaimers
  • Privacy & Security
  • CIRO AdvisorReport
  • Accessibility at CIBC
  • Manage Cookie Preferences
  • Cookie Policy
 Canadian Investment Regulatory Organization  Canadian Investor Protection Fund

CIBC Private Wealth” consists of services provided by CIBC and certain of its subsidiaries through CIBC Private Banking; CIBC Private Investment Counsel, a division of CIBC Asset Management Inc. (“CAM”); CIBC Trust Corporation; and CIBC Wood Gundy, a division of CIBC World Markets Inc. (“WMI”). CIBC Private Banking provides solutions from CIBC Investor Services Inc. (“ISI”), CAM and credit products. CIBC Private Wealth services are available to qualified individuals. Insurance services are only available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are only available through CIBC Wood Gundy Financial Services (Quebec) Inc.


CIBC Private Wealth services are available to qualified individuals. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license.