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How bad will Canada’s COVID-19 recession be?
How bad will Canada’s COVID-19 recession be? 2 million jobs could be at stake, and the economy could shrink by more than it did in 2009 The black swan has landed. The novel coronavirus pandemic is well underway worldwide, but it wasn’t until this month that Canadians started coming to grips with the economic pain it can […]
38% of Canadians dip into RRSPs early, BMO survey suggests
38% of Canadians dip into RRSPs early, BMO survey suggests Percentage of respondents withdrawing savings rose from 34% last year, poll indicates Almost four out of every 10 Canadians withdraw money from an RRSP before they hit 71, a new poll from BMO suggests. (Shutterstock) Almost four out of every 10 Canadians polled in a […]
Canadian housing market hits $508,097 average price in April as sales rise to record
Canadian housing market hits $508,097 average price in April as sales rise to record Average Canadian house price up 13% in April, but wide regional variances remain Canada’s housing market hit new all-time records both for the average price and the number of homes sold in April. (Associated Press) Canada’s housing market continues to set […]
House flipping tax could curb speculative foreign money, CIBC says
House flipping tax could curb speculative foreign money, CIBC says Tax on home flippers may be helpful, but most foreign investors are likely legitimate, Benjamin Tal says Canada lacks concrete data on the level of foreign investment in the country’s housing market, experts say. (Daniel Acker/Bloomberg) Canada may consider a tax on foreign investors flipping […]
Bank of Canada keeps benchmark interest rate at 0.5%
Bank of Canada keeps benchmark interest rate at 0.5% Central bank’s rate has impact on rates offered by commercial banks for loans and savings accounts The Bank of Canada, lead by governor Stephen Poloz, kept its benchmark lending rate at 0.5 per cent on Wednesday. (Adrian Wyld/Canadian Press) Canada’s central bank stood pat today, electing […]
Gold price over $1,200 has bullion buyers sure rally will continue
Gold price over $1,200 has bullion buyers sure rally will continue Price of bullion is rising fast, especially when converted into Canadian currency Gold has outperformed almost every single other asset class as an investment this year. Many backers of the precious metal say the rally is just getting started. (Frantzesco Kangaris/Bloomberg) Bad news for […]
Average house price in Canada up 17% in January to $470,297
Average house price in Canada up 17% in January to $470,297 House prices increased by an astounding 17 per cent in January, CREA said. (Patrick T. Fallon/Bloomberg) The average price of a Canadian home sold in January increased by 17 per cent to $470,297 compared to the same month a year ago. Home sales were higher […]
Meridian credit union offers 1-year mortgage at 1.69%
Meridian credit union offers 1-year mortgage at 1.69% Spring mortgage wars start early, as member-owned lender makes new low offer to homebuyers Meridian credit union just offered a one-year mortgage at 1.69 per cent. (Daniel Munoz/Reuters) Alternative lender Meridian has launched the first shot in the spring mortgage wars with a one-year fixed mortgage rate […]
Bank of Canada faces key rate decision Wednesday: To cut or not?
Bank of Canada faces key rate decision Wednesday: To cut or not? Economists have conflicting views on whether the central bank should cut its rate or hold steady Bank of Canada governor Stephen Poloz is set to reveal the bank’s latest decision on interest rates on Wednesday, and many economists say a rate cut could […]
