Canadian Housing Starts (November 2020)
Posted on Dec 20, 2020 in Economics
Canadian housing starts increased by 14% m/m to 246,033 units in November at a seasonally adjusted annual rate (SAAR), following an increase in the previous month. Housing starts increased in 9 of 10 provinces with the strongest gains in BC and the Atlantic. Building activity in the multi-unit segment rebounded after two consecutive months of decli...Canadian Retail Sales (October 2020)
Posted on Dec 20, 2020 in Economics
Retail sales rose for the sixth consecutive month in October by 0.4% on a seasonally-adjusted basis, which is higher than Statistic Canada's preliminary estimate of no change. Sales were up in 6 of 11 subsectors, representing 50.9% of retail sales. The increase was led by higher sales at auto and parts dealers. Compared to the same time last year...Canadian Inflation - November 2020
Posted on Dec 16, 2020 in Economics
Canadian inflation, as measured by the Consumer Price Index (CPI) rose by 1.0% in November year-over-year. This is the largest increase since the pandemic started in March. Excluding gasoline, the CPI rose by 1.4%. Prices rose in six of eight components year-over-year in November, with the recreation, education, and reading index contributing the m...Bank of Canada Interest Rate Announcement
Posted on Dec 13, 2020 in Mortgage News
The Bank of Canada maintained its overnight rate at 0.25 per cent this morning, a level it considers its effective lower bound. The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week and re-affirmed its forward guidance on future interests moves, committing to holding...Canadian Employment Numbers (November 2020)
Posted on Dec 06, 2020 in Economics
Canadian employment gained 62k jobs in November (0.3%, m/m), increasing in Ontario, BC, and the Atlantic provinces. This is the seventh consecutive month of increases, putting national employment within 574k of its pre-COVID February level. The national unemployment rate decreased by 0.4 percentage points to 8.5%, continuing the steady fall from th...Vancouver Real Estate Statistics - November 2020
Posted on Dec 04, 2020 in Market Update
November home sales outpace seasonal norms and long-term averages
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,064 in November 2020, a 22.7 p...
