Mark Carney sees more than a year of soft growth

The deteriorating global picture is turning what had been a soft patch for Canada’s export-heavy economy into more than a year of sluggish growth, the Bank of Canada said Wednesday in a new quarterly forecast. A day after leaving their benchmark interest rate at 1 per cent for a ninth consecutive meeting, Bank of Canada Governor Mark Carney and […]

Interprovincial Mortgage Brokers

The Internet has made doing business possible across the farthest reaches of the globe. It’s not surprising then, that technology is fostering mortgage brokering across provincial lines. More and more, we see out-of-province brokers advertising and quoting rates in other provinces. This is making the mortgage market more price-efficient and lowering costs for consumers. While […]

Smith Manoeuvre is alive and well

onathan Chevreau, Financial Post Oct. 5, 2011 While the creator of the eponymous Smith Manoeuvre, Fraser Smith, is sadly no longer with us, the tax-savings movement he spawned is very much alive and well in Canada. Born in 1938, Smith died of cancer on Sept. 25 at age 74. His “manoeuvre” was and is a […]

Home building booms again

Garry Marr  Oct 11, 2011 Jonathon Rivait/National Post The Canadian housing market continues to defy the odds in the face of a world economic slowdown, as new statistics from Canada Mortgage and Housing Corp. show new home construction soaring again. The latest numbers put September starts at 205,900 on an annualized basis, a pace in line […]

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 […]

Canadians’ household debt raises eyebrows at IMF

KEVIN CARMICHAEL The International Monetary Fund isn’t totally convinced that Canadian authorities have a handle on the risks building up in the housing market. “Developments on the housing front require increased vigilance, and consideration may need to be given to additional prudential measures to prevent a further buildup in household debt,” the Washington-based IMF says […]

Frustrated Flaherty urges Europe to deal with Greece and ‘move on

NEW YORK, N.Y. — The global economy is at risk of falling into a second recession if European leaders don’t resolve the debt crisis soon, Canadian Finance Minister Jim Flaherty said Wednesday. “The European crisis is the world’s most immediate and pressing problem,” Flaherty said at a Canada-U.S. Securities Markets Summit in New York. “It […]

Six questions you should ask before adding more debt

ROMA LUCIW – Globe and Mail Update Catherine and her husbandtapped into their first home equity line of credit 15 years ago, when they needed $30,000 to buy a car. The rate on the line of credit was attractive and, having been mortgage-free for a decade, the Thornhill couple figured it would be a quick and easy […]

Low rates could spur mortgage rule changes

David Pett  Sep 8, 2011 With Canadian interest rates now on hold for some time to come, the government may move to tighten mortgage rules again to keep the already hot housing market from bubbling over, says the chief economist of Canada’s biggest bank. “As we go forward in an environment of lower rates for longer […]

A slower recovery, not a recession

Global turmoil will slow down Canada’s recovery, the country’s top economic policy makers warn, but they don’t expect another recession and say they’re well equipped to fight a slump if they’re wrong. At a rare summer session of the House of Commons finance committee, Finance Minister Jim Flaherty and Bank of Canada Governor Mark Carney […]

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