by David Larock Canadian mortgage rates continue to fall, and it now seems only a matter of time before they hit record lows, which I peg at about 2% for widely available five-year fixed-rate mortgages. While the decline in mortgage rates has been hastened by the COVID crisis and the oil price crash, longer-term factors are also putting downward pressure … Read More

By: Myke Thomas With evidence confidence in the real estate market is increasing, there are indications first-time home buyer intentions to buy have not wavered, says Phil Soper, president and CEO of Royal LePage. “We saw intentions through the Environics study that Genworth did in February and May and we found intentions to buy are the same,” says Soper. “They’re … Read More

By: Ephraim Vecina The Bank of Canada’s next interest rate decision and economic outlook in mid-July will largely depend on consumer activity and fiscal movements in the next few weeks, according to Toni Gravelle, the central bank’s deputy governor. Cautiousness is warranted amid the risks and uncertainties arrayed against the Canadian financial system, Gravelle said. “A lot will depend on … Read More

by Ephraim Vecina Despite multiple headwinds and the continuous ravages of COVID-19, Canadian market activity and purchasing power will be able to recover quickly after the outbreak eases, according to outgoing Bank of Canada Governor Stephen Poloz. “We have to be able to manage the risks around those things, so I’m not going to dismiss [the worst scenarios],” Poloz told BNN … Read More

Retailers go broke, property and oil fall but maybe the economic pain will speed beneficial changes By: Don Pittis As people are thrown out of work, as businesses fail and as the oil and housing sectors weaken, there is a branch of economics that insists it all may have a silver lining. Just last week the retailer Pier 1, familiar to … Read More