9 Dec

Genworth is now Sagen

General

Posted by: Gemma Riley-Laurin

Genworth Canada is now known as Sagen™ Genworth Canada is now known as Sagen™. While our name has changed, our promise will always be the same. We aim to be the most trusted partner for lenders and brokers across Canada. That means we’ll continue to work closely with you to help your deals get through […]

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2 Dec

Federal Fiscal Update–Finance Minister Freeland’s Debut

General

Posted by: Gemma Riley-Laurin

  Justin Trudeau’s government, which has delivered the biggest COVID-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the pump as long as needed. Finance Minister Chrystia Freeland unveiled $51.7 billion of new spending over two years in a mini-budget Monday, led by an enhanced wages subsidy […]

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2 Dec

Rebounding Q3 Canadian Economy Stalls in Q4

General

Posted by: Gemma Riley-Laurin

  The Canadian economy rebounded sharply in the third quarter, posting its most rapid expansion ever. Still, it was a lower than expected gain, and early data show that momentum is quickly fading in the face of a second wave of the pandemic. Gross domestic product rose by a massive 40.5% annual rate in Q3, reversing […]

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28 Oct

Bank of Canada Recalibrates Quantitative Easing

General

Posted by: Gemma Riley-Laurin

As expected, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will continue to rely on large-scale asset purchases–quantitative easing (QE). The central bank is recalibrating its QE program as promised in recent weeks. In […]

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26 Oct

Bank of Canada Will Stop Buying Canada Mortgage Bonds

General

Posted by: Gemma Riley-Laurin

This Wednesday, the Bank of Canada will release its interest rate announcement and the October Monetary Policy Report. Most people expect the overnight rate to remain at 0.25%, where it has been since the pandemic hit. A few have suggested that the Bank could take a page from Australia and reduce overnight rates by 15 basis points. […]

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16 Oct

Canadian Home Sales and Prices Set Another Record High in September

General

Posted by: Gemma Riley-Laurin

Today’s release of September housing data by the Canadian Real Estate Association (CREA) shows national home sales rose 0.9% on a month-over-month (m-o-m) (see chart below). This continues the rebound in housing that began five months ago amid record-tight market conditions. “Along with historic supply shortages in a number of regions, fierce competition among buyers […]

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9 Oct

Canada Has Recouped Three-Quarters Of Pandemic Job Losses

General

Posted by: Gemma Riley-Laurin

The September Labour Force Survey, released this morning by Statistics Canada, reflects labour market conditions during the week of September 13 to 19, six months after the onset of the COVID-19 economic shutdown. As Canadian families adapted to new back-to-school routines at the beginning of September, public health restrictions had been substantially eased across the country, and […]

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23 Sep

Throne Speech: Canada’s Response to COVID-19

General

Posted by: Gemma Riley-Laurin

Prorogation on August 18, following the resignation of Finance Minister Morneau, a new session of Parliament, and a new speech from the throne was meant to allow the government to hit the reset button. And for Prime Minister Justin Trudeau, to try and move past the summer of controversy involving WE Charity and the Canada Student […]

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15 Sep

Canadian Housing Market Sets Record Highs in August

General

Posted by: Gemma Riley-Laurin

Dr Sherry Cooper Chief Economist, Dominion Lending Centres drcooper@dominionlending.ca   Today’s release of August housing data by the Canadian Real Estate Association (CREA) showed a blockbuster August with both sales and new listings hitting their highest levels in 40 years of data–exceeding the record July activity levels. This continues the rebound in housing that began four […]

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9 Sep

Bank of Canada Relies on Quantitative Easing

General

Posted by: Gemma Riley-Laurin

Dr. Sherry Cooper Chief Economist, Dominion Lending Centres drcooper@dominionlending.ca As promised, the Bank held its target overnight rate at the effective lower bound of 25 basis points with the clear notion that negative policy rates are not in the cards. Instead, the central bank will rely on large-scale asset purchases–quantitative easing (QE–of at least $5 […]

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