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Category: Economy (14 posts)

Government Extends Ban on Foreign Buying of Canadian Housing

Government Extends Ban on Foreign Buying of Canadian Housing

February 12, 2024 | Posted by: Angela Robinson

In a recent announcement, Finance Minister Chrystia Freeland revealed the extension of the federal government's ban on foreign home purchasing in Canada until the beginning of 2027. The initial rule, ...

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Canadians' Mortgage Regrets and Financial Realities

Canadians' Mortgage Regrets and Financial Realities

August 30, 2023 | Posted by: Angela Robinson

Owning a home is a long-term investment that many Canadians view positively, despite encountering unexpected expenses along the way. However, recent shifts in interest rates and inflation have led som ...

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Why Bank of Canada is in no rush to cut interest rates

Why Bank of Canada is in no rush to cut interest rates

May 24, 2023 | Posted by: Angela Robinson

Bank of Canada Governor Tiff Macklem emphasizes that interest rates won't quickly return to previous low levels. Higher rates increase consumer debt and pose risks to the financial system, but the t ...

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Most New Homebuyers 'Very Worried' Next Term Will Bring Much Higher Monthly Payments

Most New Homebuyers 'Very Worried' Next Term Will Bring Much Higher Monthly Payments

May 17, 2023 | Posted by: Angela Robinson

The Bank of Canada has held its key rate steady in April, however; the decision to raise interest rates eight times since the beginning of 2022, along with the subsequent increase in mortgage rates, h ...

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Long-term mortgage rates are falling. Is it time to lock in?

Long-term mortgage rates are falling. Is it time to lock in?

May 10, 2023 | Posted by: Angela Robinson

The recent collapse of Silicon Valley Bank and Signature Bank has led to a ripple effect that has impacted financial markets in the US and Canada. However, amidst the turmoil, Canadian banks and lende ...

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Bank of Canada holds key interest rate, but what comes next?

Bank of Canada holds key interest rate, but what comes next?

March 8, 2023 | Posted by: Angela Robinson

The Bank of Canada decided to hold its key interest rate steady Wednesday but made clear it’s still prepared to raise rates further depending on how inflation and the economy progress. The ...

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Stable rate encouraging for Edmonton homebuyers seeking mortgages

Stable rate encouraging for Edmonton homebuyers seeking mortgages

February 22, 2023 | Posted by: Angela Robinson

The Bank of Canada’s most recent interest rate hike could be its last for some time, giving homebuyers more clarity with the busy spring market a few weeks away. “The Bank of Canada s ...

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2023 will be a better year for homebuyers, mortgage holders, investors and people sick of greedflation

2023 will be a better year for homebuyers, mortgage holders, investors and people sick of greedflation

January 11, 2023 | Posted by: Angela Robinson

The end of interest rate increases Persistent inflation means we could see a modest rate increase early in the year, but 2023 will be a year where the central bank mostly keeps rates the same. I ...

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Mortgage Costs are Less Than the Rate of Inflation for the First Time in 40 Years

Mortgage Costs are Less Than the Rate of Inflation for the First Time in 40 Years

October 11, 2021 | Posted by: Marc Crossman

Nobody likes to pay more for their day-to-day living expenses, so last week’s news of July’s eyebrow-raising 3.7 per cent inflation rate caused quite a stir. According to Statistics Canada ...

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What's Next for President Elect Donald Trump?

What's Next for President Elect Donald Trump?

October 7, 2019 | Posted by: Marc Crossman

A populist uprising that has very disturbing elements of racism, xenophobia, misogyny and isolationism has taken Donald Trump to the White House–a man with no experience in government or pu ...

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Canadian Jobs Blew Through Estimates, But Devil Is In the Details

Canadian Jobs Blew Through Estimates, But Devil Is In the Details

September 23, 2019 | Posted by: Marc Crossman

      Canadian employment rose 44,000 (+0.2%) in October--much stronger than expected. But all of the gain was because of more part-time work, as full-time employment fell. T ...

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CANADA JOBS REPORT DWARFS FORECASTS

CANADA JOBS REPORT DWARFS FORECASTS

February 25, 2019 | Posted by: Marc Crossman

Following three months of little job growth, economists expected to see a modest 5,000 increase in employment in March. The jobless rate was forecast to hold steady at 7.3%, matching the highest level ...

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Q4 GROWTH AT 0.8% BOOSTS 2015 TO ONLY 1.2%

Q4 GROWTH AT 0.8% BOOSTS 2015 TO ONLY 1.2%

November 19, 2018 | Posted by: Marc Crossman

Today’s stronger than expected fourth quarter GDP figure of 0.8% annualized growth did little to assuage concerns that the Canadian economy is growing well below potential. Many expected gr ...

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BANK OF CANADA DOES NOT CUT RATES

BANK OF CANADA DOES NOT CUT RATES

July 30, 2018 | Posted by: Marc Crossman

In an evenly divided call by market analysts, the Bank of Canada maintained its target for the overnight rate at 1/2 percent. The Bank said that inflation prospects are largely as expected and th ...

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