• In Q2-2023, this company reported record revenue (up 23% YoY) and EPS (up 20% YoY). Revenue and EPS beat our estimates by 2.4% and 1.6%, respectively, amid higher mortgages outstanding and lending rates.
    • Mortgages outstanding (net) were up 2% YTD, to $36M – the highest in this company’s history.
    • Due to rising financial instability, and cooling inflation, we are expecting the Bank of Canada to maintain rates, or even start slashing rates within the next six months. We expect transaction volumes/lending to surge in 2024, driven by lower rates.
    • Anticipating a decline in rates within the next six months, we project higher demand for high-yield stocks, such as this company.
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