News & Updates
VANCOUVER — British Columbia is poised to be a top economic performer in Canada, with lower oil prices working to the province's advantage, according to a report by the Business Council of B.C. Real GDP growth is expected to rise from 2.3 per cent in 2014 to 2.6 per cent in 2015 and 3.1 per cent in 2016. Unemployment is expected to drop from 6.1 per cent in 2014 to six per cent.
"In summary, our as... read more.
Canada will start accepting applications from millionaire immigrant investors and their families on Wednesday under a revamped version of a program critics once denounced as "cash for citizenship."
The government announced in December it would give permanent residency to international investors who can invest $2 million in Canada, in an effort to attract experienced business people who could give t... read more.
VANCOUVER — Continuing low interest rates and a healthy stream of newcomers will ensure the good times keep rolling in 2015 for the Lower Mainland’s property development industry. But it also means pricing will continue to pose a challenge.
Three of B.C.’s biggest developers used adjectives like “great” and “incredibly positive” as they delivered a forecast last week to more than 1,100 industry ins... read more.
The Bank of Canada will cut its key interest rate again in March, TD Bank predicts in an update to its 2015 forecast.
Last week, the Bank of Canada cut its target for the overnight lending rate from an already low one per cent to 0.75 per cent, in light of the risk posed to the Canadian economy by slumping oil prices.
Economists had expected to hold the rate at one per cent, where it had been since... read more.
Canada’s major banks are heading into a renewed mortgage price war in the wake of the Bank of Canada’s surprise decision to cut interest rates.
Mortgage brokers reported that Royal Bank of Canada dropped its five-year fixed rate for qualified borrowers to 2.84 per cent over the weekend. While smaller, non-bank lenders have started offering even cheaper rates, RBC's rate cut is likely a record for a... read more.
Royal Bank of Canada is the first major lender to lower mortgage rates after five-year bond yields fell in the wake of a surprise cut by the Bank of Canada last week, according to rate-monitoring websites.
Royal Bank, the country’s second-biggest lender by assets, offered a five-year fixed rate of 2.84% on Jan. 24, down from 2.94% last week, according to rate-tracking website Ratespy.com. That’s be... read more.
The Bank of Canada’s surprise rate cut this week could result in much quicker and surprising economic growth than many are expecting, market watchers said Thursday.
A Metro Vancouver city that is constantly battling an image problem received an ego boost this week when it was named one of the world's most intelligent communities.
The Intelligent Community Forum (ICF), a New York-based economic and social development think tank, released its "Top7 Intelligent Communities of 2015" list Thursday, and Surrey, B.C. made the cut.
"Surrey is a city in transition from... read more.
The low dollar, the interest rate cut and the recovery of the American economy should mean good news for the real estate markets in most places in B.C., experts say.
By this time next week, Canadian consumers borrowing for a home might be looking at the lowest rates in the country’s history as a result of the Bank of Canada’s rate cut on Wednesday.
Top five takeaways from Bank of Canada’s surprise rate cut
Governor Stephen Poloz called the cut ‘insurance’ against low oil prices. Here are the bank’s top messages on how the oil rout could impact the economy
Interes... read more.
Already ranked as one of the most unaffordable cities in the world, Vancouver's heated real estate market could get a further push, after the Bank of Canada cut the overnight lending interest rate to 0.75 per cent.
The rate had been at one per cent since September 2010 and the cut shocked markets on Wednesday. It will likely result in lower interest rates for variable rate mortgages, lines of credi... read more.
The Bank of Canada announced a surprise quarter-percentage-point cut to its key interest rate Wednesday – a move it calls “insurance” against the potentially destructive effects of the oil price collapse.
The reduction in the bank’s overnight rate to 0.75 per cent from 1 per cent – its first move since September, 2010 – comes as a precipitous drop in the price of crude slams Canada’s oil-dependent... read more.
Don’t look for another interest rate hike for two more years; in fact, there is a one in three chance the Bank of Canada will actually cut rates before the end of this year, Morgan Stanley predicts.
The latest forecaster to take a stab at the impact of plunging oil prices on Canada’s economy, the American bank stands out for its bearish take.
The bank not only pushed its forecast for the first rate... read more.
Collapsing oil prices and a weakening economy are pushing markets to start pricing in a potential interest rate cut by the Bank of Canada this year.Those expectations grew Tuesday after Bank of Canada deputy governor Timothy Lane gave a speech in Madison, Wisc., that economists saw as tilting more dovish than usual. Mr. Lane’s speech focused on the economic effects of dropping oil prices, which ha... read more.