September 2014 Canadian Economic Fundamentals

[Ally]

Little economic news on deck as investigators digest job figures, retail earnings





TORONTO ` This week is expected to a light week for economic news in both Canada and the U.S., with little scheduled on the calendar.





Despite a lack of obvious movers for the stock markets, investors will be looking for some reassurances that the North American economies are continuing to recover.





Read the full article here.

 

[Ally]

Canada's fourth quarter hiring outlook hits 4-year low point





Canadian employers are more reticent about expanding payrolls, with the hiring outlook falling to its lowest level in more than four years according to a new survey.





Manpower Canada`s latest quarterly employment survey shows fourth-quarter hiring plans are down from both the prior quarter and last year`s levels





Read the full article here.

 

[Ally]

Housing construction slows down for now





OTTAWA ` The annual pace of housing starts in Canada slowed in August to 192,368 units, down from 199,813 in July, according to the Canada Mortgage and Housing Corp.





The pace fell short of the 195,000 units forecast by analysts.





Read the full article here.

 

[Ally]

Loonie little changed, housing starts slip





TORONTO - The Canadian dollar closed little changed Tuesday amid data showing a mid-summer deterioration in Canadian housing starts.





The loonie edged up 0.02 of a cent to 91.15 cents US as Canada Mortgage and Housing Corp. reported that housing starts came in at an annualized rate of 192,368 units in August.





Read the full article here.

 

[Ally]

Canadian dollar little changed amid mid-summer slip in housing starts





TORONTO - The Canadian dollar closed little changed Tuesday amid data showing a mid-summer deterioration in Canadian housing starts.





The loonie edged up 0.02 of a cent to 91.15 cents US as Canada Mortgage and Housing Corp. reported that housing starts came in at an annualized rate of 192,368 units in August.





Read the full article here.

 

[Ally]

Diamond fever hits NWT





Diamond deposits, in the words of one senior geologist, are like pigeons. Where you find one, you`re likely to find an entire flock.





That`s the guiding logic behind a new wave of diamond mine development and claim staking in the Slave Craton in the Northwest Territories. The NWT already serves as host to some of the world`s richest diamond mines, starting with Ekati and Diavik, followed by Snap Lake, all in the central corridor of the Slave Craton.





Read the full article here.

 

[Ally]

Getting more difficult for Canadians to move up out of starter homes





CALGARY - A new report from CIBC World Markets says price increases in mid- and high-priced homes are far outpacing those of lower-priced ones, which is making it increasingly more difficult for many Canadians to move up out of their starter homes.





`The value of bigger and pricier properties is rising notably faster than less expensive properties ` widening the gap between starter home and dream house,` said Benjamin Tal, deputy chief economist at CIBC. `Regardless of what your starting point is, and by how much your property has appreciated, the desired move up target is getting further and further out of reach.`





Read the full article here.

 

[Ally]

Cash-rich Canadians hanging on to mortgages





Mortgages are typically something people can`t wait to get rid of, the kind of burden that keeps lottery-ticket sales going strong. But for some, it seems that taking on a mortgage is a good thing.





High net-worth Canadians ` those with investable assets of $500,000 or more ` are using mortgages as a deliberate investment strategy, according to a new Investors Group survey.





Read the full article here.

 

[Ally]

You need time, money or expertise to own rental property





It was more accident than intention that led Anni Jansson to buy her first investment property in the growing Calgary suburb of Airdrie, Alta., in 2006.





Ms. Jansson, 39, had planned to live in the three-bedroom townhouse herself, but fate intervened when she met WestJet pilot Jason Hyland. The couple, now married, moved into his Calgary home and decided to put hers up for rent rather than incur the penalty of breaking the mortgage.





Read the full article here.

 

[Ally]

BMO opts to slash one mortgage rate





TORONTO`The Bank of Montreal has slashed its five-year fixed mortgage rate to 2.99 percent in a move that some real estate experts say soon will force the other major banks to follow suit.

`Usually when one leads, the others follow,` Debbie Thomas, a partner at brokerage The Mortgage Group, said yesterday.

But she cautioned that although the rate, which is being offered until Sept. 30, will help some new homebuyers enter the market, it may not be wise for everyone to rush in.





Read the full article here.

 

[Ally]

Neighbourhoods where home prices have gained most in Canada's major cities





When Canada`s national housing numbers are released Monday by the Canadian Real Estate Association, they`ll likely show some notable discrepancies between markets. Prices in Calgary, Toronto and Vancouver have been hot lately, but not so much in other areas.






But that`s not the whole story. Even within cities, the variations in how different neighbourhoods have fared can be significant.





Read the full article here.

 

[Ally]

Manufacturing sales hit record high in July





OTTAWA - Canada's manufacturing sector posted record sales for July and topped expectations as it gained 2.5 per cent.





Statistics Canada said Tuesday that manufacturing sales for July, the first month of the third quarter, totalled $53.7 billion ` beating the previous record of $53.2 billion set in July 2008.





Read the full article here.

 

[Ally]

Canadian employment premiums will be lowered to help businesses cut EI payroll taxes





TORONTO - Ottawa moved to cut employment insurance premiums for small businesses Thursday, touting it as an effort that will save employers more than $550 million over the next two years and help stimulate hiring.





But critics say if the federal government really wanted to see employment pick up in Canada, it should have made job creation a requirement of the tax credit.





Read the full article here.

 

[Ally]

Canadian home sales rise again in August; CREA raises yearly forecast






OTTAWA`The Canadian Real Estate Association says sales through its Multiple Listing Service in August were up 2.1 per cent compared with a year ago.







The gains came as August sales were up in just over half of all local markets, led by Vancouver and Calgary, the association says.





Read the full article here.

 

[Ally]

Canadian dollar little changed amid mid-summer slip in housing starts





TORONTO - The Canadian dollar closed little changed Tuesday amid data showing a mid-summer deterioration in Canadian housing starts.





The loonie edged up 0.02 of a cent to 91.15 cents US as Canada Mortgage and Housing Corp. reported that housing starts came in at an annualized rate of 192,368 units in August.





That was slightly below market expectations of 195,000 and down from a reading of 199,813 in July.





Read the full article here.

 

[Ally]

Canada's housing market booming? Everywhere





The headlines are clear: Canada`s long-running housing boom shows no signs of ending, with sales rising yet again, by 1.8 per cent, in August.





The average house price is up 5.3 per cent in the past year, according to self-reported numbers from the real estate industry, and that's well above wage growth and inflation.





Read the full article here.

 

[Ally]

Stephen Harper hints tax cuts could be in fall economic update





OTTAWA - The political season in the nation`s capital kicked off Monday as Prime Minister Stephen Harper hinted he could begin to roll out more tax cuts as of this fall`s fiscal and economic update.





Read the full article here.

 

[Ally]

Canadian crude exports to United States hit record high





U.S. crude oil imports from Canada hit a record high of nearly 3 million barrels per day in the week ended Sept. 12, U.S. Energy Information Administration data showed on Wednesday.





The weekly data showed Canada, the top supplier of crude to the United States, exported 2.994 million barrels of crude to its southern neighbour. That was a 20 percent increase on the same period a year earlier.





Read the full article here.

 

[Ally]

CREA: Expect more home sales for 2014





The Canadian Real Estate Association has updated its forecast for home sales activity for the rest of 2014 and 2015.





The deferral of sales and listings during an extraordinarily bleak winter delayed the start to the spring home buying season earlier this year. However, CREA says activity rose in May and June since properties were snapped up after they finally hit the market.





Read the full article here.

 

[Ally]

Average Canadian house price rises 5.3% Y-O-Y





The average price of a Canadian home has increased by more than five per cent in the past year, according to the Canadian Real Estate Association.





The realtor group says the average home sold went for $398,618 in August.





Read the full article here.