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 […]

The Bank of Canada kept the key overnight interest rate unchanged at 0.5 percent as expected, as the Federal Reserve is poised to hike rates for the first time in nearly 10 years. The Bank’s decision did not, however, reflect complacency with the state of the Canadian economy, but rather a hand-off to the much […]

The BoC announced its latest target for the overnight rate Wednesday morning. The Central Bank decided to maintain its overnight rate at ½% Wednesday morning, citing economic growth that is in line with its October Monetary Policy Report. Still, economic recovery has not been strong enough to warrant a rate increase. “In Canada, the dynamics […]

The BoC announced its latest target for the overnight rate Wednesday morning. The Central Bank decided to maintain its overnight rate at ½% Wednesday morning, citing economic growth that is in line with its October Monetary Policy Report. Still, economic recovery has not been strong enough to warrant a rate increase. “In Canada, the dynamics […]

Oil at $35 a barrel for a period of five years would trigger a 26 percent collapse in Canadian home prices, according to stress tests run by Canada’s housing agency. The results were part of a slide presentation Evan Siddall, chief executive officer at Canada Mortgage & Housing Corp., gave Monday to a private audience […]

Finance Minister Bill Morneau said today that Canada’s budget is deeper in the red than we were told in the 2015 budget as the economy’s performance has disappointed. He also revised down the government’s outlook for the economy over the next year. According to the Minister, the federal books are short roughly $3 billion in […]

(Bloomberg) — Canada’s finances are taking a bigger hit than projected from the oil-price slump, putting the country on pace for red ink even before Prime Minister Justin Trudeau kicks off his plan for deficit spending. After a surplus of C$1.9 billion ($1.4 billion) in the last fiscal year, the latest finance department projections are […]

What is a credit report and why is it necessary?What is a credit report and why is it necessary? It’s easy, it provides proof of your creditworthiness. Plain and simple! In this day and age, it’s rare to find someone who doesn’t have some form of credit. This can include credit cards, personal loans, lines […]

Four major metropolitan areas show strong evidence of problematic housing market conditions, according to a report from the Crown Corporation. CMHC’s Housing Market Assessment (HMA), released Thursday afternoon, points to “strong evidence” of problematic conditions in Toronto, Winnipeg, Saskatoon, and Regina. According to the report, Toronto’s analysis is a reflection of price acceleration and overvaluation; […]