Find us on Google+ Google+

Saturday, February 4th, 2023

Bank on Hold As Housing Expected to Continue to Slow

Bank on Hold As Housing Expected to Continue to Slow It is no surprise that the Bank of Canada maintained its target overnight rate at 1/2 percent today, reaffirming its view that the Canadian economy is still operating with considerable slack despite strong employment growth and inflation remains below the 2 percent target. The policy […]

Canada may need tougher rules to slow overvalued housing market, IMF warns

Canada may need tougher rules to slow gains in the housing market, the International Monetary Fund said. Millennials lured by lengthy stretch of low rates spur Canada’s condo boom at their peril Experts warn of danger ahead when these young people, who have no experience in interest rate shocks, face a spike in mortgage payments. […]

Canadian snowbirds’ dream of U.S. vacation home fading fast – Ask a Vancouver Mortgage Broker

The hundreds of thousands of Canadian snowbirds who flock to the United States are being hit by a falling loonie that should see their purchasing of U.S. winter homes start to slow, says a new report. Here’s what $500K buys in Canada’s housing markets: A lake in Edmonton … a condo in Toronto From four […]

Bank of Canada warns low inflation to persist into 2016

BARRIE MCKENNA–  OTTAWA — The Globe and Mail The Bank of Canada is warning that unusually low inflation pressures will persist into 2016 – a new forecast that could further delay future interest rate hikes and send the Canadian dollar lower. The currency plunged after the announcement, sinking to 90.3 cents U.S. by late morning. The central […]

Canadian housing market defies skeptics as starts top expectations – Consult with a Vancouver Mortgage Broker

TORONTO — Canadian housing starts were stronger than expected in June and May figures were revised higher, according to data released on Tuesday, the latest report to show the property market rebounding from last year’s government-induced slowdown. Housing market fuelling loonie’s rise from two-year-low The Canadian dollar rose from its lowest level in almost two […]

Bank of Canada will raise overnight interest rate in July 2014: BMO economist

By: Alexandra Posadzki The Canadian Press, Published on Wed Jun 19 2013 The Bank of Canada is likely to start raising its benchmark interest rate in July 2014, a full year before the U.S. Federal Reserve, BMO’s chief economist Douglas Porter said Wednesday. Porter predicts the overnight rate will go up by half a percentage point, which could […]

What Canadians need to know about buying U.S. real estate

The financial crisis that began in 2007 with the breakdown of the U.S. residential mortgage market still persists for millions of Americans who have lost their houses, their jobs and all hope of a secure retirement. As a result, residential real estate prices in the hardest-hit areas such as California, Arizona, Nevada and Florida are […]

Seniors taking on debt at alarming pace

Second properties and flashier cars are driving senior citizens into escalating levels of debt, a TD Economics paper says. Many people 65 years old and older are borrowing to buy vacation and investment properties at a time of continued low interest rates and low returns on other investments, says the TD Economics paper released Tuesday. […]

Rate Hikes on Hold until 2013 – BMO Economics

Business owners need to prepare for continued currency fluctuations TORONTO, October 4, 2011 – Rate hikes will resume in the first part of 2013 instead of the second half of 2012, according to the “Rates Scenario” report released today by BMO Capital Markets Economics. “As global economic risks have escalated, casting commodity prices and the Canadian dollar much […]

CDN jobless rate lowest since 2008

OTTAWA (Reuters) – Canada’s unemployment rate fell to 7.2 percent in July, its lowest since December 2008, from 7.4 percent in June, though this was due more to people dropping out of the labor market than to job creation. Statistics Canada said Friday the economy managed to eke out 7,100 new jobs while holding on […]

Next Page »