At least 52,200 British Columbians will be entitled to refund cheques from the Canadian Imperial Bank of Commerce if a recently certified class-action lawsuit succeeds, according to one of the lawyers involved in the case. The representative plaintiff in the case is Victoria resident Erin Sherry, who wanted out of a CIBC mortgage when her […]
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There are generally two ways to get a mortgage in Canada: From a bank, or from a licensed mortgage professional. While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, and trust companies … offering their clients more choice, […]
Read More“Canadian housing market: correction, NOT a crash“ -PIMCO Canada Inc.
The world’s biggest bond fund manager, PIMCO Canada Inc., expects a “cyclical decline” in Canada’s housing market, but says there’s little chance of a meltdown. There has been much media attention on Canada’s housing market lately, with some forecasters calling for “the bubble” to pop in 2014. While we think the housing market in Canada […]
Read MoreAlberta’s economy to continue firing on all cylinders: RBC Economics
The vast majority of indicators continue to tell a firmly upbeat story about Alberta’s economic strength, as momentum gives no signs of easing, according to the latest RBC Economics Provincial Outlook released today. RBC forecasts that Alberta’s real GDP growth for 2014 will be 3.9 per cent, surpassing last year’s solid estimated pace of 3.7 […]
Read More“Alberta to lead Canada`s Construction Industry through next decade“ – BuildForce Canada
A new report released Thursday says Alberta will lead Canada’s construction industry through the next decade, with major new oilsands projects and residential work driving job growth in virtually every year between now and 2023. BuildForce Canada’s 2014-2023 Construction and Maintenance Looking Forward forecast said the pace of expansion has resumed, with construction employment across […]
Read More“…a decidedly western tilt to economic activity and job growth this year“ -RBC Economists
The Royal Bank says most of Canada will experience stronger economic growth this year and next, but only Alberta will see the kind of gains that will make a real impact on job creation. The latest quarterly report from Canada’s largest bank predicts the overall economy will expand by 2.4 per cent this year and […]
Read MoreCalgary new condo market booming
Sales in 2013 up 30% and near peak of 2005 Calgary’s new condo market was booming in 2013 with sales up by 30 per cent from the previous year and coming close to the peak of 2005 when prices were a lot less for a property, particularly in inner-city neighbourhoods. A report by the Altus […]
Read More2014 Assessed values plunge for Calgary flooded properties, outside flooded areas rise six per cent
The flood washed out an average of $208,870 in assessed value for each home damaged by Calgary’s rivers last June, according to the newly released 2014 assessment rolls. (Original article here). The city has begun mailing out annual assessment notices, and the numbers will confirm to homeowners in flood zones what they likely already knew: […]
Read More“Alberta stands out“ in terms of population growth – Statscan
Brighter job prospects in Alberta and more challenging ones in the eastern side of the country are altering the country’s population flows. Alberta saw another year of above-average population growth in 2012-13, driven by record levels of net international migration and interprovincial migration, Monday’s preliminary population estimate from Statistics Canada shows. One province’s gains are others’ losses. […]
Read MoreMortgage Rate War coming?
Newly sworn-in Finance Minister Joe Oliver sounds worried about a potential new outbreak of the mortgage rate wars. Just one week after Jim Flaherty stepped down, Bank of Montreal is shaking up the mortgage market, aggressively cutting its five-year rate to levels that caused the former finance minister to intervene last year. The bank says it will offer a five-year rate of 2.99 […]
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