Bank of Canada Governor Stephen Poloz gave one of his bluntest warnings to date about the country’s housing boom, saying Vancouver and Toronto buyers should realize strong price gains probably can’t be sustained by economic fundamentals. “This suggests that prospective homebuyers and their lenders should not extrapolate recent real estate performance into the future when […]

First on the U.S. Jobs Front The May employment report was released this morning in the US and it was shockingly weak–indeed, the weakest number in almost 6 years. Nonfarm payroll employment was up only 38,000, well below the market expectation of 160,000. Not only was May incredibly weak, but the March and April job […]

The Central Bank held its target for the overnight rate at ½% Wednesday, citing increasing “household vulnerabilities.” “Canada’s housing market continues to display strong regional divergences, reinforced by the complex adjustment underway in the economy. In this context, household vulnerabilities have moved higher,” the Bank said in its announcement. “Meanwhile, the risks to the Bank’s […]

A poll of analysts by Reuters reveals little expectation that the Bank of Canada will make any moves on interest rates in the next 12 months. Despite concerns about the continued impact of the reduced energy sector, exacerbated by the wildfires, there is unlikely to be another cut in interest rates the experts say. In […]

A poll of analysts by Reuters reveals little expectation that the Bank of Canada will make any moves on interest rates in the next 12 months. Despite concerns about the continued impact of the reduced energy sector, exacerbated by the wildfires, there is unlikely to be another cut in interest rates the experts say. In […]

A poll of analysts by Reuters reveals little expectation that the Bank of Canada will make any moves on interest rates in the next 12 months. Despite concerns about the continued impact of the reduced energy sector, exacerbated by the wildfires, there is unlikely to be another cut in interest rates the experts say. In […]

The governor of the Bank of Canada gave a speech in New York Tuesday in which he highlighted the weakness in the global growth outlook and how lower interest rates are likely to be the new normal. Stephen Poloz ruled out a further cut in Canada’s interest rates though, unless there is a “shock of some significance.” […]

Global trade has reached a new “balance point” where it will contribute less to international growth than it did over the two decades before the financial crisis, Bank of Canada Governor Stephen Poloz said today in New York. The surge in global trade that occurred before the financial crisis was a historical exception, Poloz said […]

1. Have you explored all your options. Once you receive your mortgage renewal statement, there is nothing easier than signing on for another term, heck 70% of everybody that received them from their current lender just signs over thousands of dollars. This may make sense in some cases, but your family and financial situation may […]

“The really interesting thing about this report is the insight it provides into foreign ownership of condominiums in Canada by age of structure. For example, in the downtown core of Toronto, we know that, in buildings completed since 2010, about 10 per cent of those units are owned by foreign buyers,” Bob Dugan, chief economist, […]