Economics

Bank of Canada - Interest Rate Announcement

Posted on Apr 22, 2021 in Economics

Bank of Canada Interest RatesToday, the Bank of Canada held its target for the overnight rate at the effective lower bound of ¼ percent. The Bank is also adjusting its bond-buying program from weekly net purchases of Government of Canada (GoC) bonds of $4 billion to $3 billion. This adjustment to the amount of incremental stimulus being added each week reflects the progress ma...

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Federal Budget 2021

Posted on Apr 21, 2021 in Economics

Federal Real Estate Budget 2021In more than two years, the first federal budget extends Ottawa’s COVID-19 “lifeline” for workers and struggling businesses another few months as it aims to pull Canada through the pandemic once and for all. Clocking in at a bulky 724 pages, this is a highly detailed budget that sets the stage for post-pandemic policy in Canada.

Finance Minister Chr...

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Canadian Housing Starts (March 2021)

Posted on Apr 19, 2021 in Economics

BC New House Real Estate BuildingCanadian housing starts increased 21.6% m/m to 335,200k units in March at a seasonally adjusted annual rate (SAAR), after declining in February. Building activity was up month-over-month in both multi-unit (+34%) and single-detached (+4%) segments. On a year-over-year basis, starts were up 70%, though this measure will become quite distorted by bas...

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Canadian Employment (March 2021)

Posted on Apr 09, 2021 in Economics

BC Unemployment Rate - March 2021Canadian employment gained 303K jobs in March (1.6%, m/m), bringing total employment to within 1.5% or 296K jobs of its pre-pandemic level from February 2020. Both part-time employment with full-time employment contributed to the gains in March, rising by 128K and 175K jobs respectively. The national unemployment rate decreased by 0.7 percentage po...

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Mortgage Rate Forecast - March 2021

Posted on Mar 26, 2021 in Economics

Vancouver Mortgage Rates & MLS ListingsMortgage Rate Outlook 

Canadian 5-year bond yields jumped in February and are now about 70 basis points above their pandemic lows. Yields moved sharply higher due to increased optimism about the economy, particularly as vaccinations progress. There may also be some pressure as Canada competes for capital with other sovereign governments looking to fi...

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Canadian Employment (February 2021)

Posted on Mar 12, 2021 in Economics

Canadian Real Estate Employment Numbers Feb 2021Canadian employment gained 259k jobs in February (1.4%, m/m), almost making up for the 266k jobs lost in the previous two months. This left the employment level 3.1% (-599k) below its February 2020 pre-pandemic level. The rise was largely in part-time employment with full-time positions continuing to see positive growth in February. Notable job gai...

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