Canadian economy slows, sets stage for disappointing second quarter

Economic growth in Canada slowed in May, increasing the likelihood of that second quarter gross domestic product will disappoint.

S&P cuts outlook on 7 Canadian banks

Ratings agency Standard & Poor’s has revised its outlook downwards on seven Canadian financial institutions, citing high housing prices and consumer debt.

What happened to the global recovery? — Sherry Cooper

The European crisis continues to rile markets as the situation in Spain worsens. Bond yields have surged in Spain and Italy as money leaves Europe for, among other places, the U.S. and Canada. Ten-year yields in both countries have touched record lows and the Canadian dollar, along with the U.S. dollar, is reflecting its safe-haven status. Stock markets are jittery, especially in Europe, and oil prices have resumed their decline.

Toronto not in condo bubble: RBC

Fears of a condo bubble in Canada’s biggest housing market are overblown, according to a new report from the Royal Bank of Canada.

Dismal bond yields likely to plunge further

With yields on Canadian and U.S. bonds at their lowest levels in a generation, the only direction for interest rates would seem to be upward.

Good for homeowners – and the economy

Could Canada could slip into the same traps that hurt the U.S. economy in 2008-09? Some are sounding the alarm bells – at least on the housing front.

Top 5 takeaways from the Bank of Canada’s decision

The Bank of Canada cut its economic growth forecast for this year and next in its interest rate decision Tuesday. Above, Bank Governor Mark Carney addresses the International Economic Forum of the Americas.

Interest rate hike unlikely as global recovery sputters

The Bank of Canada will almost certainly resist the easing trend that is sweeping policy makers in many developing and emerging economies this week, but its new economic projections may increase investors’ expectations of a rate cut before any hike.

Canadian economy creating high-paying jobs

OTTAWA — A new look at Canada’s labor market reveals the first six months of 2012 has seen a big improvement in the quality of jobs that have been created — a surprise that was welcomed Thursday even though the trend likely won’t last.

Canada’s banks can weather global storm: Watchdog

If you get into a comfort zone, which I describe as complacency, that’s not a good idea

Canadian banks, ranked the soundest by the World Economic Forum, can withstand major economic disruptions because they moved more quickly than their competitors to raise capital buffers, the country’s banking regulator said.

Property price growth slows in Hong Kong and sales fall

Property prices in Hong Kong grew at a slower pace and sales fell in the second quarter as global stock markets weakened, the latest figures show.

Mortgage rules change today, but about half Canadians don’t know it

TORONTO — New mortgage rules go into effect today in Canada but a recent survey suggests many people are unfamiliar with the changes.

What To Expect From The Housing Market In The Remainder Of 2012

The root of the global financial crisis and resulting recession could be summed up in one word: housing. Fueled by cheap credit, shady-style mortgages and over-inflated home prices, the resulting speculative bubble popped hard and sent home prices into a tailspin. 

Many Americans shut out of cheap housing market

One night last spring, David Hall returned home to his studio apartment outside Boston to learn that his monthly rent had spiked from $725 to $995.

Greater Vancouver housing market favored buyers in June

The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.

New mortgage law approved in Saudi Arabia

Saudi Arabia has approved a draft law allowing mortgages to be sold in the kingdom for the first time, the state news agency has confirmed.

Loonie 25th Anniversary: Canadian Dollar Coin An Icon Despite Strange Name, Initial Doubts

June 30, 2012, marks 25 years since Canada ditched its one-dollar bill in favour of a gold-coloured coin.