Mortgage rate hike looms as Canadians continue to deal with near-record debt

TORONTO — Fears of rising mortgage rates are about to become reality, and some financial institutions have already quietly raised their discretionary rates in the past week, a potentially harsh reality for Canadian consumers grappling with near-record debt. The rising rate environment comes as the Bank of Canada seems set to raise its overnight lending… Read more

Foreign capital appears to remain lukewarm over Montreal and Calgary

The implementation of foreign home buyers’ taxes in Vancouver and Toronto has fostered much speculation and commentary of Montreal and Calgary being the next big housing investment destinations. However, industry players and local brokers have noted that so far, initial interest—as expressed in pre-purchase queries and online searches—has not seemed to translate into actual transaction… Read more

Montreal market reaches record highs for April performance – report

Latest data from the Greater Montreal Real Estate Board (GMREB) showed that the city’s residential real estate market has achieved its highest April monthly activity level in several years. Culling data from real estate brokers’ Centris® provincial database, a total of 4,798 residential property deals transpired in April 2017, representing a 1 % year-over-year increase…. Read more

Bank of Canada governor says economic forecasting can be improved at speech in Edmonton

Bank of Canada governor says economic forecasting can be improved at speech in Edmonton

Canada’s top banker says the central bank’s approach to inflation targets has been working reasonably well, but there are gaps that could be addressed with the development of new computer economic models. Bank of Canada governor Stephen Poloz said the bank has been pursuing inflation targets for 25 years, and the average rate of inflation… Read more