The Quebec budget has some welcome measures for homebuyers and existing home owners but should have done more for first-time buyers, one of the province’s real estate bodies says
Canada’s economy will grow by just 1.6 per cent this year according to the latest assessment from the Conference Board of Canada.
David Madani, economist with Capital Economics, famously predicted a price crash of 25 per cent for Canada’s housing markets; now he says that low mortgage rates are fuelling a larger correction for the two hottest markets.
First National has reported its financial results for the three months to the end of June and show some strong growth in its mortgage business, especially on the commercial side.
There has been an optimistic tone from some of Canada’s economists so far this week.
The rules surrounding the income from rental units considered in home loan applications submitted to the Canada Mortgage and Housing Corporation are changing.
Canadians expect that they will have cleared all their debts, including mortgages, by the time they are 56.
The confidence of Canadian consumers in the economy is at its lowest point for two years according to data from Bloomberg and Nanos Research.
James C. Baillie has resigned from the Board of Directors of mortgage lender Home Capital and its subsidiary, Home Trust Company, for a variety of personal reasons.
The federal finance minister said last week that quantitative easing is “not on the table” but some believe that he should not have made the comment as it encroaches on the Bank of Canada’s territory.
The Bank of Montreal forecasts that the current weakness of the Canadian dollar is set to worsen.