In his recent speech, Mark Carney pointed to the challenges facing the recovering global economy – namely a growing distrust in banks. He states that banks should focus on winning back the trust of consumers, as the effects of the 2008 recession and bad banker behaviour leave their mark.
2012 was full of economic surprises, upheaval and change. What can we learn from the financial lessons imparted by this year’s events – and what resolutions can we put in place to make 2013 our most financially successful year yet?
Mark Carney says the Bank of Canada is behind fixed mortgage rate popularity, as lower-then-ever-options provide buyers with stability for less.
The holidays are fast approaching, and shopping season is picking up steam. This year, more Canadians than ever are choosing to crack open those laptops and mobile devices than hit the mall – after all, nothing beats shopping in your pajamas!
The saga of the Trump Tower investors are heating up the headlines – but how does this relate to you average condo buyer? Misleading sales tactics, backed up builder schedules and unpredictable fees can all cause mortgage financing problems. Read our checklist of the top condo buying pitfalls.
They’re saying Mark Carney’s new appointment as Bank of England Governor will be a great boon for the UK – but what does his new role mean for Canada’s economy? Will his departure have an adverse affect on the markets, interest rates and Canada’s economic growth?
In a surprise announcement Monday, Bank of Canada governor Mark Carney will be leaving his post to take top spot at the Bank of England. The move comes as the UK finds itself taking on more responsibility and a regulatory role for the European recession.
Canada’s debt to income ratio and subsequent household debt is far higher than previously thought, on par with those that sparked the US and UK economic downturn and housing market crisis.
Bank of Canada Governor Mark Carney has repeatedly warned Canadians to simmer down on their borrowing costs – but that hasn’t stopped us from racking up a new 8-year record high debt level. According to credit bureau TransUnion, average Canadian debt levels (excluding mortgages) reached $26,221 in the second quarter – an increase of $192.
The CMHC had added their predictions to the cooling housing market pile – and they’re fortunately less extreme than past calls of a 10 per cent drop. While they’re forecasting a slowdown in pricing, new construction and existing home sale figures, Canada’s housing market is still sitting pretty compared to the U.S., where 4 million homeowners are now underwater on their mortgages.