The Week in Economic and Real Estate News Canadas major real estate boards reported February results last week. The Vancouver market has regained its footing while Calgary and Toronto are seeing rising prices amid tight market conditions with a shortage of supply for buyers. The Bank of Canada held its overnight rate at 1% again last week but recent inflation data and a stronger than expected fourth quarter for the Canadian economy seems to have removed talk of a rate cut from its commentary. Bank of Montreal published its latest Home Buying Report last week which indicates that home buyers are more willing to engage in bidding competitions than they were a year ago. Statistics Canada released employment data for February on Friday. The Canadian economy lost 7,000 jobs when a gain of about 15,000 was expected. In the US, 175,000 jobs were added which was better than the 135,000 expected. The benchmark government of Canada five year bond yield closed last week at 1.72%, up from 1.63% the week before. ***Courtesy of MCAP.
Posted on: Mon, 10 Mar 2014 16:08:10 +0000
Trending Topics
Recently Viewed Topics
© 2015