Mortgage firms tighten lending standards in Calgary as housing boom turns sour

The oil that fueled Calgary’s housing boom has created the conditions for a bust.Genworth MI Canada Inc., the country’s largest non-government mortgage insurer, said last week it’s preparing for more losses this year and into 2016. 

Five condo renos that add value

It was a horror show. The condo kitchen was fitted with expensive cabinets by the high-end Italian company Scavolini – coloured hot pink. In another condo, the back splash behind the stove top was made of a metal – impossible to clean.

Jury Out on Mortgage Interest Rates Rising in 2015

Canada’s housing market has enjoyed banner growth over the past few years, but the jury is out on whether the good times will last throughout 2015. New economic risks such as dropping oil prices and the resulting inflation lag have thrown housing market pundits through a loop, and split the once-confident consensus on rate growth this year.

Bank of Canada lowers overnight rate target to 3/4 per cent

For the first time in over four years, the Bank of Canada has changed its target for the overnight rate, which may come as a surprise.

Canadian dollar tumbles below 87¢ amid crude’s ‘relentless drop’

The Canadian dollar tumbled below the 87-cent mark today as oil prices resumed their “relentless drop.”