Debt

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Planning and Advice

What debt issue?

"There’s nobody here but us chickens with no debt issues" or at least that’s what Helmut Pastrick, chief economist of Central 1 Credit Union - the umbrella group for credit unions in British Columbia and Ontario - would have you believe.

By Stephanie Holmes-Winton |March 16, 2011

4 min read

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Economic Indicators

National net worth nudges northward

As a nation, our debt levels might be bad, but our net worth is still growing. Canadian national net worth rose by 0.3% to $6.3 trillion in the fourth quarter of 2010, according to a Statistics Canada report. On a per capita basis, national net worth grew to $184,200 in the fourth quarter, up from […]

By Vikram Barhat |March 14, 2011

2 min read

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Economic Indicators

Home buying takes plenty of homework

The spring real estate season is just around the corner and clients may already be asking your advice about financing. Whether a fixer-upper or a new build, cost is the biggest consideration among Canadians looking to buy a home, says TD Canada Trust releases 2011 Home Buyers Report. This may be obvious to most advisors, […]

By Vikram Barhat |March 7, 2011

3 min read

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Economic Indicators

Best borrowers or just euro backers?

Congratulations, we’re all winners! Canada has been recognized by EuroWeek as carrying out the bond deal of the year in 2010. Who knew we were in the running? Who knew countries could win accolades for their borrowing finesse? But it’s not our overall bond-issuing prowess that has impressed the judges but specifically the placement of […]

By Steven Lamb |March 4, 2011

2 min read

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Economic Indicators

U.S. debt fight may spook markets

Earlier this week the U.S. Treasury revised its estimate for when Washington will hit the $14.294 trillion statutory limit on government borrowing. The limit is now expected to be reached between April 15 and May 31, having previously been pegged at April 5 to May 31. The announcement was accompanied by the usual dire warnings […]

By Dean DiSpalatro |March 4, 2011

4 min read

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Economic Indicators

Arab unrest latest threat to European markets

Political unrest has raged across the Middle East and North Africa for much of 2011. Aside from the tragic human cost in the region, the knock-on effects pose a threat well beyond the Arab world, which could derail the global economic recovery. Oil prices have spiked around the world, although promises from Saudi Arabia to […]

By Steven Lamb |February 25, 2011

3 min read

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Economic Indicators

Are Canadians heeding debt warning?

It may be too early to tell, but Canadians may be taking the Bank of Canada’s warnings on household debt to heart, according to a report from CIBC World Markets. In November – the latest month for which data is available – household credit expanded at its slowest rate since 2001, growing by just 0.27% […]

By Steven Lamb |January 26, 2011

2 min read

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Economic Indicators

Bank of Canada holds the line

The Bank of Canada has held the line on interest rates, maintaining the trendsetting Bank Rate at 1.25%. “The global economic recovery is proceeding at a somewhat faster pace than the Bank had anticipated, although risks remain elevated,” the Bank said in a statement. Both the U.S. and Europe are recovering, while some emerging markets […]

By Steven Lamb |January 18, 2011

2 min read

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Flaherty tightens mortgage rules

Finance Minister Jim Flaherty has announced new rules for mortgage lending and home equity credit lines designed to rein in growing debt among Canadians. The first of three new measures reduces the maximum amortization period from 35 to 30 years for new government-backed insured mortgages with loan-to-value ratios higher than 80%. “This will significantly reduce […]

By Dean DiSpalatro |January 17, 2011

3 min read

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Economic Indicators

“Debt diet” starts today

This morning’s announcement by the Finance Minister is the start of a government program to put Canadians on a “debt diet”, according to CIBC World Markets. While this may remove some liquidity from the market, it should make economic growth more sustainable in 2011. “Canada’s economic mix has been the polar opposite of the U.S., […]

By Steven Lamb |January 17, 2011

2 min read

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