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Scotia Economics: Global Recovery Cools Down

Tuesday, August 10, 2010, 8:15
Carousel, Finance, Mortgages
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The global housing recovery has seemed to cool down again after we saw a strong first quarter performance, according to the latest Global Real Estate Trends report that was released today from Scotia Economics. Housing demand and prices have dropped alongside moderating global growth, heightened financial market volatility and slow job creation. Global real estate markets entered the ... Full story

Tags: economic recovery, global growth, global real estate, government purchase, housing market, job creation, low interest rates, market volatility, mortgage rate, new homebuilders, outperformance, price increases, purchase incentives, quarter performance, real estate trends, renovation activity, resale listings, resale market, trends report

Rate Hike Confirms Gradual Increase in Borrowing Costs

Wednesday, July 21, 2010, 8:23
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To confirm that consumers are likely to face step by step increases in borrowing costs in the coming months, the Bank of Canada raised its trendsetting interest rate despite the outspoken worries about the economic picture. This recent increase is the second one since June 1st; the Bank Governor Mark Carney increased ... Full story

Tags: Bank of Canada, business climate, canadian economy, canadians, consumers, economic stimulus, europe, interest rate, low interest rates, mark carney, overnight rate, recession, step increases

OECD Pushes for Bank of Canada to Increase Interest Rates

Thursday, May 27, 2010, 8:15
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According to the Organization for Economic Co-operation and Development (OECD), the Bank of Canada should start raising interest rates as soon as possible so the economy does not become overstimulated. The OECD watches economic conditions for 31 of the world’s most developed countries. The OECD went on to say that these temporary stimulus measures, such as low interest ... Full story

Tags: Bank of Canada, developed countries, development oecd, economic conditions, economic recovery, economy, households, inventories, low interest rates, stimulus

Housing Affordability Increases as Home Prices Rises

Tuesday, May 25, 2010, 9:19
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Homeownership costs in Canada has risen once again, making this the third straight quarter across all housing segments, as a strong real estate market and increases prices have made it more expensive to own a home. This information is in accordance with the latest housing report released by RBC Economics Research. The RBC Housing Affordability measure captures ... Full story

Tags: Bank of Canada, canadian economy, economics research, housing affordability, housing market, low interest rates, owning a home, RBC, real estate market, report projects

Deficit shrinks as Economy Recovers

Saturday, May 1, 2010, 8:11
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The federal government might just be headed into a direction where there is a smaller deficit than was fear in the past year, all thanks to a quicker and stronger than expected recovery in economic activity. Ottawa reported that its deficit increases by a modest $902 million in February, compared to a $800 million surplus a year ... Full story

Tags: Budgeting, canadians, decline, economic activity, federal government, finance department, finance minister jim flaherty, fiscal year, low interest rates, personal income taxes, shortfalls, stimulus

Mortgage Rates Rise Again

Wednesday, April 14, 2010, 8:10
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Canada’s record low interest rates are in their final days, and repeated hikes in mortgage costs mean that for some first time homebuyers stand a chance of being shut out of the housing market. Royal Bank of Canada (RBC) announced on April 13th that it will be raising its residential mortgage rates for the second time in ... Full story

Tags: banks, countdown, first mortgage, fixed rate mortgage, housing market, interest rate, low interest rates, mortgage costs, overnight rate, rate hike, RBC, residential mortgage rates, Royal Bank of Canada, rules changes, year fixed rate mortgage

CIBC World Markets: Canadians Putting a Halt on Spending

Saturday, April 3, 2010, 8:25
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Consumer confidence has increased in Canada vastly compared to last year, however CIBC World Markets Inc.’s new Consumer Capability Index finds that weak consumer fundamentals and an interest rate hike will have Canadians starting to apply a halt on spending. In late 2008, we saw consumer confidence reach a 15 year low, as measured by the Conference ... Full story

Tags: Bank of Canada, canadian consumers, canadians, capability index, consumer confidence index, consumer spending, debt burden, debt to income ratio, household debt, interest rate hike, interest rate hikes, last quarter, low interest rates, monetary policy, personal purchases, world markets

Investor’s Waiting for Growth and Job Reports

Monday, March 29, 2010, 8:35
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This week will be vital for investors as they receive guidance this week from economic data that includes key reports on Canada’s economic growth and the U.S. job situation. On Wednesday, we will see Statistics Canada release its snapshot of economic growth in January. Economists are expecting Canadian Gross Domestic Product (GDP) grew by 0.5% during the month ... Full story

Tags: canadian economy, economic data, economic growth, economists, first quarter, fixed rate, gdp, global recession, gross domestic product, low interest rates, lows, RBC, residential mortgage rates, Royal Bank of Canada, statistics canada, target rate

RBC: Canadian Economy in for a Major Rebound

Thursday, March 11, 2010, 9:34
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A new forecast from RBC Economics says that Canada’s economy is set for real Gross Domestic Product (GDP) growth of 3.1% this year and 3.9% in 2011. RBC has noted that a peak in stimulus investment, improved credit markets and a recovery in consumer spending are pushing the increase of GDP growth. Craig Wright, chief economist ... Full story

Tags: british columbia, business investment, canadians, chief economist, commodity prices, consumer spending, craig wright, credit markets, economic growth, gdp, gdp growth rate, gross domestic product, housing market, low interest rates, newfoundland and labrador, RBC, rebound, stimulus, unemployment rates

Bank of Canada Keeps Low Interest Rates

Tuesday, March 2, 2010, 9:35
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Canadians are almost certain to be enjoying the historically low interest rates for at least another 4 months now that the Bank of Canada has missed the opportunity to have a policy change today. The central bank acknowledged during its scheduled policy rate announcement that the economy has improved, even to the point that exceeds their expectations, ... Full story