Housing Dampened Economy in Q2

Latest News Wing Kei (Winson) Lam 31 Aug

Housing Dampened Economy in Q2 This morning’s Stats Canada release showed that the economy unexpectedly contracted in the second quarter by 1.1%, down from the revised 5.5% gain in the first three months of the year. The Canadian dollar dipped on the news to $.7921 as questions of resiliency in the face of the delta […]

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Annual Inflation Hits 3.7% in Canada–A New Election Issue

General Wing Kei (Winson) Lam 18 Aug

Annual Inflation Hits 3.7% in Canada–A New Election Issue This morning’s Stats Canada release showed that the July CPI surged to a 3.7% year-over-year pace, well above the 3.1% pace recorded in June. This is now the fourth consecutive month in which inflation is above the1% to 3% target band of the Bank of Canada. […]

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Canada’s Jobs Recovery Continued in July

Latest News Wing Kei (Winson) Lam 9 Aug

Canada’s Jobs Recovery Continued in July Canada’s labour market continued its recovery in July as health restrictions were lifted, but the gains were shy of expectations. The report signals the economic rebound is intact and shows companies are finding workers as pandemic restrictions vanish. The smaller-than-expected increase, though, could cast some doubt on the pace […]

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Residential Market Commentary – Property: Bet you can’t own just one

General Wing Kei (Winson) Lam 3 Aug

Residential Market Commentary – Property: Bet you can’t own just one Be the expert Aug 3, 2021 First National Financial LP A new survey by realtor Royal Lepage suggests a significant number of Canadians own two or more properties.  It further suggests the majority of those people are renting them out, and Millennials are getting […]

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Bank of Canada ‘On the Vanguard’ of Unwinding Stimulus

Latest News Wing Kei (Winson) Lam 14 Jul

Bank of Canada ‘On the Vanguard’ of Unwinding Stimulus The Bank of Canada raised its inflation forecast in the newly released July Monetary Policy Report (MPR), making it one of the most hawkish central banks in the world. The Bank announced its third action to reduce its emergency bond-buying stimulus program by one-third. The central bank was […]

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Canada’s Jobs Recovery Resumed in June as Lockdown Began to Ease

Latest News Wing Kei (Winson) Lam 9 Jul

Canada’s Jobs Recovery Resumed in June as Lockdown Began to Ease This morning, Statistics Canada released the June 2021 Labour Force Survey showing employment rose 230,700 (1.2%) in June, rebounding from a cumulative decline over the previous two months of 275,000. Total hours worked were little changed. The national unemployment rate fell 0.4 percentage points to 7.8%. Jobs […]

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The Slowdown In Canadian Housing Continued in May

Latest News Wing Kei (Winson) Lam 15 Jun

The Slowdown In Canadian Housing Continued in May Today, the Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 7.4% nationally from April to May 2021, building on the 11% decline in April. Over the same period, the number of newly listed properties fell 6.4%, and the MLS Home Price Index rose 1.0%, a marked deceleration from previous […]

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Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary

Latest News Wing Kei (Winson) Lam 9 Jun

Bank of Canada Holds Rates and QE Steady–Asserting That Both the Upside in Inflation and the Downside in GDP is Temporary The Bank of Canada left the benchmark overnight policy rate unchanged at 0.25% and maintained its current pace of GoC bond purchases at its current pace. The Governing Council renewed its pledge to refrain […]

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Starting to See a Slowdown in Canadian Housing

Latest News Wing Kei (Winson) Lam 17 May

Starting to See a Slowdown in Canadian Housing The Canadian Real Estate Association (CREA) released statistics showing national existing home sales fell 12.4% nationally from March to April 2021. Over the same period, the number of newly listed properties fell 5.4%, and the MLS Home Price Index rose 2.4%. While home sales fell month-over-month in April, largely due to the new lockdowns, […]

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