Thank Carney and horseshoes for Canada’s stellar performance – Consult with a Vancouver Mortgage Broker

Last Friday’s non-bubbly housing start numbers and weak employment data should not distract Canadians from two key points. First, after a short, sharp economic shock, Canada’s economy began its recovery in late spring 2009 and has hardly paused since. Second, in comparison with the U.S., the EU, and especialy the U.K, Canada’s performance has been […]

Bank of Canada signals no rate hikes anytime soon – Consult with a Vancouver Mortgage Broker

OTTAWA — While the Bank of Canada acknowledges the economic outlook here and elsewhere “is slightly weaker” than thought, policymakers are also offering up some hope for the near future. In a nutshell, Canada’s economy is growing at a slower pace than expected — although a pickup is likely later this year —and inflation remains […]

Why TD’s Ed Clark says Canada isn’t heading for a U.S.-style housing bust – Adil Virani Vancouver Mortgage Broker

Toronto-Dominion Bank has just come off one of its most profitable years ever. Its shares have nearly regained the ground they lost in the financial crisis and the country’s second-biggest bank is riding high on the Canadian consumer’s apparently insatiable appetite for debt. But how much longer can it go on? TD chief executive Ed […]

Bank of Canada holds rates, but keeps hike in its sights

OTTAWA — When Bank of Canada governor Mark Carney moves onto his new U.K. job in seven months, it is likely little else will have changed back home. Interest rates will still be at near-record lows, and the economy will be continuing to churn out less-than-stellar growth. That presents a problem for the central bank, […]

Canada’s Carney says rate hikes “less imminent” – Consult with a Vancouver Mortgage Broker

TORONTO (Reuters) – Interest rate hikes have become less imminent than the Bank of Canada once expected, although rates are still likely to rise, central bank Governor Mark Carney said in an interview published on Saturday. “Over time, rates are likely to increase somewhat, but over time, so a less imminent timing relative to our expectation,” […]

Carney on rates: no ‘imminent’ changes

KEVIN CARMICHAEL The Globe and Mail Published Wednesday, Oct. 24 2012, 10:37 AM EDT Last updated Wednesday, Oct. 24 2012, 7:41 PM EDT Interest rates may not head higher until well into next year, but Mark Carney wants Canadians to understand that their economy is unique in that it is “in an expansion, not a recovery.” The […]

BoC hints at rate hike

  The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus. “In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential,” writes the Central Bank in […]

Carney warns falling oil price could grease economy’s slide

JEREMY TOROBIN OTTAWA — The Globe and Mail Published Tuesday, Jul. 17 2012, 9:09 AM EDT Last updated Wednesday, Jul. 18 2012, 7:34 AM EDT The Bank of Canada is adding the downward drift in prices for oil and other commodities to its catalogue of threats to economic growth. In a one-page statement on his latest interest-rate decision Tuesday, […]

Simulating Economic Hazards

Rising indebtedness has elevated concerns about the ability of borrowers to cope with economic stress. The Bank of Canada (BoC) weighed in on this topic last week. In its semi-annual Financial System Review, the BoC performed a variety of simulations to estimate how job losses and rate hikes might prevent some people from paying their mortgage. Here are some […]

Consumers rein in debt burden, but housing ‘overshooting’: CIBC

Canadians consumers are reining in their debt burdens amid repeated warnings on household borrowing from Bank of Canada Governor Mark Carney and other policy makers. The growth of consumer debt has eased as of March, rising at the slowest pace since 2002, Canadian Imperial Bank of Commerce(CM-T70.03-0.63-0.89%) said Wednesday. “For the first time in more than a […]

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