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Mortgage Broker News | 02 Apr 2014, 10:21 AM Agree 0
The Governor of the Bank of Canada, Stephen Poloz, stated Monday the central bank will now consider “anecdotal evidence” along with economic data when making its decisions; an approach that one leading broker believes will not aid in considering global effects on the Canadian economy.
  • Steve Clark | 02 Apr 2014, 01:12 PM Agree 0
    How can anecdotal evidence be a bad thing? Polozi isn't saying he is neglecting the vital information. He is saying he will add common sense and practicality to decisions as well as data. It is a model for other branches of government.
  • Blair Anderson | 02 Apr 2014, 03:12 PM Agree 0
    I can think of another use of good ol’ common sense...mortgage underwriting. When I was schooled, there was 5-Cs to mortgage underwriting: Cash, Credit, Character, Collateral, and yes, Common Sense. I hope there’s enough to go around. Bring it on!
  • Shawn Allen | Matrix Mortgage Global | 02 Apr 2014, 11:20 PM Agree 0
    The global economy is out of control and the government is adjusting they way the numbers are being reported.

    Did you know that according to Stats Canada, the definition for unemployment is classified as "People Actively Looking For Work". People who have stopped looking for work are no longer classified as unemployed?

    Canada's unemployment rate based on this unit of measure is a modest 7%, however if you include those that have stopped looking for work the number is around 15%-20%.

    That's HUGE

    People really need to understand the economy and stop relying on numbers given to you. You must do the research yourself, then you will see that we are in for a rough ride ahead.

    Brace yourself, stay educated.
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