The Bank of Canada will cut its key interest rate to at least zero this year and could move toward negative rates to offset the crude oil price slump, according to Barclays Plc. The London-based bank expects the Bank of Canada to cut its overnight target rate 25-basis points to 0.25 percent at its announcement on […]

Expectations of a Bank of Canada rate cut next week are mounting and for good reason. The Canadian economy is showing signs of considerable weakness and business investment plans have been cut. Oil prices continue to decline sharply and Iranian oil supply will be coming on stream shortly. Energy companies continue to slash payrolls and […]

Bank of America Merrill Lynch told its clients Monday that the weakness in the oil industry spreading out to other industries will prompt a further interest rate cut by the Bank of Canada when it meets on January 20. In a note to investors the bank called for a cut of 25 basis points. With some of Canada’s […]

The troubles that plagued the Canadian economy last year are going to persist through 2016, but things may be a bit brighter by the end of the year, according to a panel of chief economists at the country’s five biggest banks. Here’s what they’re expecting for the world’s 11th biggest economy, which is on pace […]

It was another feather added to the cap of the country’s largest network, one that industry professions are saying points to the strength of the industry. Dominion Lending Centres acquisition of Mortgage Architects “is good for us; it gives us a bigger presence in the industry and more clout with lenders,” Walter Faria, a mortgage […]

For the first time in nine years, the U.S. Federal Reserve hiked their key policy rate–the overnight federal funds rate–by one-quarter percentage point (25 basis points) to a range of 1/4 to 1/2 percent. The policy-making Federal Open Market Committee (FOMC) said that the stance of monetary policy remains accommodative, thereby supporting further improvement in […]

New down payment rules will go into effective February 15, 2016. “The Government’s role in housing is to set and maintain a framework that is equitable, stable and sustainable. The actions taken today prudently address emerging vulnerabilities in certain housing markets, while not overburdening other regions,” Finance Minister Bill Morneau said in a release. “They also […]

Policy makers still have firepower to spur growth even with borrowing costs near zero, Bank of Canada Governor Stephen Poloz said, citing unconventional policies and fiscal stimulus. While the central bank doesn’t expect another crisis that will force it to resort to such policies, a number of tools are still available, including charging banks for […]

The Canadian economy shed 35,700 jobs in November to reverse a rise in temporary work likely generated by October’s federal election, Statistics Canada said Friday. The number of public-administration jobs fell by 32,500 in November to offset an October increase of 32,000 positions in the same category, the federal agency found in its monthly job-market […]

The Liberal government could be about to impose tougher restrictions on homebuyers by raising the minimum downpayment for a government-insured mortgage. Mortgage expert Robert McLister says that there could be a sliding scale of downpayment requirements depending on the price of the home. The Huffington Post reports that it could mean a 10 per cent […]