Here in B.C., we’re richer than we think — on paper

VANCOUVER — Are all those folks struggling mightily to afford a Lower Mainland lifestyle really richer than they think? Statistics Canada believes so.

Bank of Canada’s Stephen Poloz says interest rates to remain low for years to come

OTTAWA — Canadians can expect to enjoy relatively cheap borrowing costs for some time to come — perhaps years — even after the economy returns to full capacity and the Bank of Canada starts hiking interest rates, bank governor Stephen Poloz said Thursday.

Canadian, U.S. housing markets defy expectations, price gap hits record

The gap between the average price of a home in Canada and the United States widened to a record level in the first quarter of this year, contrary to what economists would have expected, according to Bank of Montreal’s chief economist Doug Porter.

Happy Easter!

Real estate sector applauds new mortgage rules

The real estate industry is breathing a sigh of relief after seeing the long-awaited set of guidelines for mortgage insurers that many had feared would cause home sales to slow.

Canadian home prices flat in March

Canadian resale home prices were flat in March from February and 12-month home price inflation slowed slightly, the Teranet-National Bank Composite House Price Index showed on Monday.

Regulator set to release new mortgage rules

The standards for banks, known in the industry as guideline B20, pushed lenders to be more cautious in areas such as credit checks on borrowers, document verification and appraisals. They also capped the amount that any individual can borrow on a home equity line of credit at 65 per cent of the home’s value.

IMF says Canadian economy to pick up speed, but many risks remain

OTTAWA — Canada’s economy will pick up speed in 2014, thanks in great part to stronger growth in the United States, as both countries shake off a chilling start to the year, the world’s key lending agency said Tuesday.

Don’t be fooled into mortgaging your home to buy stocks

Investors seem to have completely forgotten about the concept of risk thanks to a prolonged period of ultra-low interest and stock markets setting new highs.