One-third (33 per cent) of B.C. residents say that rising food and gas prices have had a significant impact on their budget, according to the latest quarterly RBC Canadian Consumer Outlook Index (RBC CCO). In addition, more than half (53 per cent) of British Columbians say they have delayed a major purchase because of the […]

The Bank of Canada boosted its growth forecast Tuesday but threw a curve ball at Bay Street expectations for a July interest-rate hike by warning the “persistent strength” in the loonie could cause even greater headwinds for the economy.   While some analysts still expect the central bank to start raising rates in July after […]

As rising home prices continue to outpace income growth, many young Canadians have decided to delay home ownership for another year, according to a poll released Thursday by Royal Bank of Canada. RBC’s annual home ownership poll found that 55 per cent of respondents aged 18 to 34 said it made sense to delay a […]

A leading international think-tank says Canada will lead its peers in the G7 in economic growth during the first half of this year. The Organization for Economic Co-operation and Development says the outlook for economic growth has brightened for all G7 countries, with the exception of Japan . But the improvement has been most marked […]

Concerns over rising oil and food prices and persistent strength in the loonie are taking away some of the swagger in Canada’s business community, the Bank of Canada says. The central bank said Monday its new spring business outlook survey shows firms remain bullish about the future, but less so than three months ago. Firms […]

Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market. TD Canada Trust (TSX:TD) TD said the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 percentage points starting Tuesday. The move was […]

When Sean Fitzgibbons needed a short-term loan last year to cover his daughter’s first year of university, his wife’s master’s degree and a bathroom renovation, the real estate industry veteran knew exactly what to do. Mr. Fitzgibbons took out a bank-structured home equity line of credit, or HELOC, a form of financing that’s zoomed in […]

After sifting through Finance Minister Jim Flaherty’s latest keep-the-opposition-from-voting-us-out budget, I’m sorely tempted to adopt the analytical approach of Carl Weinberg, the estimable chief economy watcher for High Frequency Economics in Valhalla, NY.    The budget does not merit analysis, because there’s going to be an election anyway, he told clients long before Flaherty tabled […]

Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close a deal on a new townhouse in Calgary without a hitch. Now in their early thirties, both have careers in the theatre, something Ms. Hutton says has […]

Recent tragic events in Japan follow a string of global catastrophes that could slow economic recovery in the short term, but should not push either the Canadian or global economies back into recession, according to some of Canada’s top economists. “Obviously horrible things have happened (in Japan) that will take some of the growth out […]