The Bank of Canada held interest rates at 0.5 per cent Wednesday with an assessment of the economy which has some positives tempered with risks
A recent Canada Mortgage & Housing Corporation report showed that home buyers, especially first-time buyers, were committed to using mortgage brokers rather than getting a home loan direct from mortgage lenders.
Canadian consumers’ confidence in the Canadian economy has held relatively stable for the week ending June 26th according to data from Bloomberg and Nanos Research.
The parent company of Marlborough Stirling (MS Canada) is to be acquired by a major professional services firm.
The summertime creates an added debt burden for many Canadians with 40 per cent of those polled by mortgage lender CIBC saying they spend more.
Mortgage borrowing increased in May as low interest rates boosted sentiment.
Canada’s economic growth will be closely watched Tuesday as Statistics Canada releases the latest GDP figures.
New figures show that seniors are carrying increasingly levels of debt into retirement and bankruptcies among the demographic are soaring.
The Alberta government wants to increase the minimum wage this fall and move towards ending the lower rate for liquor servers.
The chief economist of Royal Bank of Canada’s asset management division says there is a 35 per cent chance that the BoC will make a further cut in interest rates in the coming months.
Questions have been asked about the distribution of funds for municipal infrastructure projects administered by the Canada Mortgage and Housing Corporation.