Bank of Canada to allow June consumer activity to define interest rate trajectory

Robb NelsonMortgage Talk Canada

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

Expect rapid post-pandemic recovery – BoC’s Poloz

Robb NelsonMortgage Talk Canada

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

COVID-19 may be the catalyst — not the cause — of a painful but useful economic transformation: Don Pittis

Robb NelsonMortgage Talk Canada

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

COVID-19 may be the catalyst — not the cause — of a painful but useful economic transformation: Don Pittis

Robb NelsonMortgage Talk Canada

Retailers go broke, property and oil fall but maybe the economic pain will speed beneficial changes By: Don Pitts 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

Canadian home buyers still plan to purchase in 2020, despite COVID-19 crisis

Robb NelsonMortgage Talk Canada

By: Nicole Sullivan Despite sudden drops in housing market sales activity in the last two months, almost two-thirds (60 per cent) of buyers still consider 2020 a good year to purchase a home. A recent survey by Zolo shows that even with higher unemployment and uncertain business conditions, buyers still intend to buy a residential property either this year or over the … Read More