Canada’s economy grows at fastest pace since 2011 on ‘mini oil boom’

May 31, 2013 under Useful Articles
Gordon Isfeld | 13/05/31 | Last Updated: 13/05/31 10:55 AM ET OTTAWA — Canada’s economy picked up speed in the first quarter of 2013, growing at the fastest pace in a year and a half, led by a surge in oil exports. The annualized growth rate was 2.5% between January and March, Statistics Canada said Friday. That was slightly better than many economists’ forecasts. For March alone, gross domestic product
comments: Comments Off

April home resales down 29.2 per cent in Halifax

May 30, 2013 – 6:46pm BILL POWER BUSINESS REPORTER April home resales in the metro Halifax area tumbled 29.2 per cent, or 136 fewer resales, over the 2012 number, the Conference Board of Canada reported Thursday. It was one of the biggest declines in resales reported in Canada for the month, and follows a pattern of reduction in the city extending back to the beginning of the year. “The resale market in Ha
comments: Comments Off

Mark Carney keeps 1% rate and bias towards hike in last policy decision

May 31, 2013 under Useful Articles
Gordon Isfeld | 13/05/29 | Last Updated: 13/05/31 10:24 AM ET OTTAWA — As swan songs go, Mark Carney’s final performance as the head of Canada central bank was a little flat. But that was to be expected. After all, Mr. Carney is only days away from passing the baton to the next Bank of Canada governor, Stephen Poloz. The handover needed to be steady. So on Wednesday, Mr. Carney and his policy team did what
comments: Comments Off

German unemployment rises in May

May 29, 2013 under Useful Articles
29 May 2013 Last updated at 06:45 ET - BBC © 2013 Unemployment in Germany rose during May, according to the latest set of official figures. The country’s Labour Office said that, on a seasonally adjusted basis, the number of people out of work increased by around 21,000 to 2.963 million, well above analysts’ expectations. Bad weather and a relatively high number of public holidays are being blamed f
comments: Comments Off

IMF cuts China growth forecast

May 29, 2013 under Useful Articles
By Charles Riley @CRrileyCNN May 29, 2013: 6:23 AM ET China’s economy is now expected to grow by 7.75% in 2013, the IMF said, slower than the 8% forecast made earlier this year. The diminished outlook from the IMF coincides with a series of downgrades from private forecasters. UBS earlier this month lowered its full year forecast from to 7.7% from 8%. Bank of America and Standard Chartered have also cut the
comments: Comments Off

Getting too expensive to buy commercial property in Vancouver

Garry Marr | 13/05/28 | Last Updated: 13/05/28 12:47 PM ET Valuations are getting so high in Vancouver’s commercial market it is starting to affect deal flow, says a new report. RealNet Canada Inc. says capitalization rates — the implied rate of return on a property — in British Columbia have gone so low that a 13% decline in sales in the first quarter can be attributed to the drop. The lower the cap rate
comments: Comments Off

How to get value out of your house without selling

Garry Marr | 13/05/25 | Last Updated: 13/05/24 3:07 PM ET Here’s a way to get some value from your house without selling. Just be prepared to stay put and be ready for some headaches. Renovating can make your home bigger and more valuable but without any of the enormous transaction costs that can easily top 10%, depending on where you live in the country. The federal government might have made it more difficu
comments: Comments Off

Home resales drop in Halifax — RBC

May 23, 2013 – 7:16pm REMO ZACCAGNA BUSINESS REPORTER Home resales took a dip in Halifax during the first quarter of the year, according to a Royal Bank of Canada report. In the RBC Housing Trends and Affordability study, home resales fell 13 per cent in Atlantic Canada from the fourth quarter of 2012. The survey did not break down individual cities within the region, although it was noted that home resale
comments: Comments Off

Vancouver is least affordable city to buy a house in Canada: RBC

May 24, 2013 under Useful Articles
By Katia Dmitrieva, Bloomberg May 24, 2013 6:21 AM Vancouver remains the least affordable city to buy a house in Canada while home ownership in Toronto is becoming more difficult, Royal Bank of Canada Economics Research said. The costs of owning a detached bungalow in Vancouver take up 82.3 percent of a typical household’s income, up 0.1 percentage points from the previous quarter. In Toronto, the largest city i
comments: Comments Off

Going gets tougher for TD as mortgage lending slows

John Greenwood | 13/05/23 | Last Updated: 13/05/23 3:48 PM ET One of the important numbers that banks disclose is something called the net interest margin, often buried deep in quarterly financials. Despite the technical sound of the phrase, it simply refers to the average amount of profit made on loans during the period. The fatter the net interest margin, or NIM, the easier it is for the bank to make a buck.
comments: Comments Off