Is central bank move a game changer?

November 30, 2011 under Useful Articles
Central banks around the world, including the Bank of Canada, sprung into action Wednesday with a new plan aimed at staving off a global credit crisis threatened by Europe’s debt spiral, but policymakers still must do more to get to the root of the region’s problems, analysts said. “It’s a step in the right direction, but one step among 50 that need to be taken,” Andrew Busch, globa
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CMHC: Refis down 31%

November 29, 2011 under Useful Articles
Refi business remains down from pre-mortgage rule changes introduced this spring, according to new quarterly results released by CMHC. “Homeowner Refinance activity initially fell by nearly 40 per cent (in the second quarter) and by the end of September was approximately 25 per cent below the pre-implementation levels for an overall year-over-year decrease of 31 per cent,” says the Crown corporation in
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Canada’s slowing economy may need rate cuts: OECD

November 28, 2011 under Useful Articles
By Greg Quinn Canada’s economy is slowing because of weaker foreign demand and may need new stimulus from the central bank and government if things get worse, the Organization for Economic Cooperation and Development said. Gross domestic product will grow 1.9% next year, the Paris-based OECD predicted Monday, down from its May forecast for a 2.8% expansion. The outlook for this year was pared to 2.2% from 3%
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A Look At Collateral Mortgages

November 24, 2011 under Thoughts by Tony
Few customers understand the difference between a conventional mortgage and a collateral mortgage. Many banks and Credit Unions register their mortgages as collateral mortgages and although it’s disclosed somewhere in fine print, many customers are not aware of the pitfalls. A conventional mortgage is registered against the property for a fixed amount – usually the amount borrowed and would operate as
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Economy So much for that world recovery …

November 23, 2011 under Useful Articles
By Jonathan Cable LONDON — Global manufacturers floundered this month as new orders slumped, and with survey data also showing services business growth faltering, concerns are rising that the world is headed for a steep downturn. Personal spending in the United States — where the economy is growing when many in Europe are already contracting — barely rose last month, figures showed on Wednesda
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European Industries Shrink as Global Slowdown Deepens Amid Debt: Economy

November 23, 2011 under Useful Articles
By Simone Meier – Nov 23, 2011 3:32 AM PT European services and manufacturing shrank further, industrial orders had the biggest drop in almost three years and China’s factories showed signs of contraction as a global slowdown deepened. . ‘Too Late’ Stiglitz told Francine Lacqua on Bloomberg Television’s “Countdown” today what has been done in Europe is “just too l
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GDP report: Growth revised lower in third quarter

November 22, 2011 under Useful Articles
By Annalyn Censky @CNNMoney November 22, 2011: 9:50 AM ET The nation’s economy grew at a 2.0% annual rate in the third quarter, the Commerce Department reported Tuesday. NEW YORK (CNNMoney) — The economy didn’t fare as well as originally thought between July and September. Gross domestic product, the broadest measure of the nation’s economic output, grew at a 2.0% annual rate in the quarter,
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Retail sales leap as Canadians loosen purse strings

November 22, 2011 under Useful Articles
Financial Post Staff  Nov 22, 2011 – 8:46 AM ET | Last Updated: Nov 22, 2011 10:47 AM ET OTTAWA — Retail sales in Canada rose in September at twice the pace expected by economists, led by vehicle purchases and higher gasoline prices. Sales were up 1% during the month to $38.2 billion, Statistics Canada said Tuesday, following a 0.6% increase in August, which was revised from an earlier estimate of
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Canadian Home sales top expectations

November 16, 2011 under Useful Articles
OTTAWA— The Canadian Press The Canadian Real Estate Association says home sales in Ontario were stronger than anticipated during the third quarter — resulting in a slightly brighter outlook for CREA’s 2011 and 2012 national forecasts. The industry association is now projecting sales this year will be up 1.4 per cent from 2010, half a percentage point better than the previous forecast. CREA expec
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Consumer Prices in U.S. Unexpectedly Fall 0.1%, First Drop in Four Months

November 16, 2011 under Useful Articles
By Timothy R. Homan – Nov 16, 2011 5:45 AM PTWed Nov 16 13:45:08 GMT 2011 Receding raw-material costs compared with earlier this year may make it easier for some retailers to hold the line on prices as they compete for consumers coping with stagnating incomes entering the holiday shopping season. Receding raw-material costs compared with earlier this year may make it easier for some retailers to hold
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