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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com

7 November 2014

Canada’s unemployment rate falls to its 6-years low level

Last month was the second in a row showing significant increase in the number of new jobs. This change helped to overcome the trend of alternating gains and losses for the first time in almost 2 years.

According to Statistics Canada, the unemployment rate also fell for the second consecutive month, reporting this time 6.5%. It’s the lowest rate since November 2008. Meanwhile, September showed 6.8% jobless rate.

In October, there were 43,100 new jobs created, following growth of 74,100 jobs in September.

It should be noted that two months of such strong results were quite surprising.

5 November 2014

Canadian government turns out to be too exposed to real estate market

The central bank’s official warns about the Canadian government being overexposed to the current hot real estate market, adding we need stronger involvement of private sector.

Moreover, Lawrence Schembri isn’t actually the first one to note the possible danger of today’s situation.

However, his report is extremely important as it comes from a deputy governor of the Bank of Canada, which has again warned about the risks from high debts level of Canadian households.

4 November 2014

Looks like Scotiabank “is not richer than it thinks”

According to certain specialists, massive cost reductions at Scotiabank, including cutting 1,500 jobs, can be viewed as a sign of more changes waiting for Canadian banking industry.

Having survived after several years of significant economic difficulties relatively undamaged, Scotiabank decided to close 120 international branches, as bank is losing about $341-million after taxes from its fourth-quarter income.

As you know, Canadian largest banks will start reporting their annual financial results on December 2nd. The first in line is Bank of Montreal.

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2 December 2016

November housing prices go up by 23% in Toronto According to the Toronto Real Estate Board (TREB), home buyers paid by $144,000 or 23% more last mon...Read more >>

1 December 2016

OSFI warns about the risks of credit complacency It looks like we may see another round of tighter mortgage underwriting guidelines, as recently the ...Read more >>

30 November 2016

The number of CMHC insured mortgages goes up, as well as home equity level Canada Mortgage and Housing Corporation (CMHC) saw a 26.8% increase of the...Read more >>
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2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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