Economy improving, but interest rates to stay at historic lows for now By Julian Beltrame, The Canadian Press   OTTAWA – The Bank of Canada is keeping interest rates at historic lows for a few more months, while sending out signals that the economy is rebounding strongly and could trigger inflationary pressures.   The central […]

Paul Vieira, Financial Post      OTTAWA — Pressure on the Bank of Canada to move early on raising interest rates mounted Monday after data on fourth-quarter gross domestic product suggested the economy is roaring its way out of recession after recording the fastest pace of growth in nearly a decade.   The central bank […]

By Jeffrey Hodgson  TORONTO (Reuters) – Global investors ravaged by rising sovereign risk will find welcome respite in Canada’s March 4 federal budget, with controlled leaks and relatively healthy finances making it a refreshingly low-key event for markets. In stark contrast to the Greek budget tragedy unfolding in Europe, Canada is expected to forecast a […]

February 16, 2010 Housing markets in the United States and Canada are similar in many respects, but each has fared quite differently since the onset of the financial crisis.Unlike the U.S., Canada has not experienced a dramatic increase in mortgage defaults, nor has any Canadian bank required a government bailout. As a result, observers such […]

By David Olive Business Columnist Toronto Star Frenzied developers with access to cheap money are creating a glut of premium office space and luxury apartments, priced at about 80 times the average income of the city’s residents. Prospective middle-class homeowners, in panic-buying mode, are snapping up two properties at once, hoping to flip the second […]

Paul Vieira, Financial Post  OTTAWA — Canada will officially oppose international efforts to get the world’s major economies to impose a global bank tax, government sources tell the Financial Post. This could potentially ignite a major divide among Group of 20 leaders at their summit meeting in Toronto this summer, and further thwart efforts to […]

The Canadian Press OTTAWA — House price increases will moderate as the resale market becomes more balanced, says the president of the Canadian Real Estate Association. “The resale housing market is becoming more balanced in a number of provinces,” Dale Ripplinger said Wednesday after the association released January sales statistics that revealed another big year-over-year […]

New Rules to Come into Force April 19th, 2010   Federal Finance Minister Jim Flaherty announced changes to mortgage insurance rules this morning, which are set to come into force on April 19th, 2010.   This means the government will adjust the rules for government-backed insured mortgages as follows: Require that all borrowers meet the standards for a five-year […]

Garry Marr And Theresa Tedesco, Financial Post   The Canadian Real Estate Association has proposed an overhaul of its rules in the wake of allegations by the federal competition watchdog that some of CREA’s practices are anti-competitive, according to internal documents obtained by the Financial Post. The documents show the proposed amendments, which will be voted […]

Feb. 10, 2010 Since last October, home resale numbers have almost doubled, up 41.5 per cent and setting new records in Toronto, Ottawa and Montreal, all according to figures from the Canadian Real Estate Association (CREA). It’s stats like these that prompted economists from Scotia Capital, Derek Holt and Karen Cordes, to publish a report […]