Smith Financial to buy Home Capital Group as mortgage industry under strain
Posted: Nov 28th, 2022In: ConstructionNewsTORONTO – Mortgage lender Home Capital Group Inc. has agreed to be bought by Smith Financial Corp. in a deal that values the company at $1.7 billion as the sector feels the strain from rising[...]
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B.C. government to bring in rental changes, supply laws to boost housing
Posted: Nov 27th, 2022In: ConstructionNewsVICTORIA – The British Columbia government has introduced sweeping changes to boost the housing supply, and while local governments say they want to do their part, they’re concerned about effects the laws will have on[...]
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Long term rate hikes effects will be ‘more powerful’ than people think: Poloz
Posted: Nov 26th, 2022In: ConstructionNewsOTTAWA – The full effects of interest rate hikes have yet to be felt – and will be “even more powerful” than many anticipate, said former Bank of Canada governor Stephen Poloz Thursday in a speech about ways Canada can chart a path[...]
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Inflation relief measures should be well targeted and temporary, says Macklem
Posted: Nov 24th, 2022In: ConstructionNewsOTTAWA – Governments looking to provide inflation relief to Canadians should choose measures that are well targeted and temporary, says Bank of Canada governor Tiff Macklem. At a House of Commons committee meeting Wednesday, Conservative MP Adam Chambers asked the governor[...]
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Economists see signs of inflation easing, despite annual rate holding steady
Posted: Nov 17th, 2022In: ConstructionNewsOTTAWA – Canada’s annual inflation rate held steady in October, but economists say it’s trending in the right direction. In its latest consumer price index report, Statistics Canada said the country’s annual inflation rate was 6.9 per cent[...]
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Canada’s low unemployment rate is unsustainable, contributing to inflation: Macklem
Posted: Nov 11th, 2022In: ConstructionNewsTORONTO – Canada’s low unemployment rate is not sustainable and is contributing to decades-high inflation, Bank of Canada governor Tiff Macklem said during a speech in downtown Toronto Thursday. Speaking before students and researchers at Toronto Metropolitan University, the governor[...]
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Vancouver home sales down 46% from last year, up 13% from September: board
Posted: Nov 5th, 2022In: ConstructionNewsVANCOUVER – The Real Estate Board of Greater Vancouver says home sales continued to plunge in October, falling 45.5 per cent from the year before even as they increased 12.8 per cent from September. Last[...]
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Tory vows to use strong mayor powers to get new housing division operating fast
Posted: Oct 28th, 2022In: ConstructionNewsToronto Mayor John Tory says he will use so-called strong mayor powers to create a new division at city hall to streamline housing development. We need to get more housing built faster. As promised in my Five[...]
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Bank of Canada slows pace of rate hikes but Macklem warns more to come
Posted: Oct 27th, 2022In: ConstructionNewsOTTAWA – The Bank of Canada signalled it is drawing closer to the end of what’s been one of the fastest rate hike cycles in its history Wednesday as it raised its key interest rate by a half-percentage point – but made it[...]
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60% of Canadians concerned about impact of rising rates: MNP survey
Posted: Oct 25th, 2022In: ConstructionNewsAs another Bank of Canada interest rate hike is to be announced Wednesday (26th), a recent poll conducted by Ipsos on behalf of MNP Ltd finds that six in ten Canadians (59%,+1pt) say they are[...]
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