Mortgage Logic

Economics

Significant Statistics

Prudence Paying Off For Canadian Mortgage Borrowers – Spring 2010 • There are approximately 9.3 million homeowners in Canada, including about 5.55 million with mortgages. • Almost 80 per cent of young borrowers have opted for a fixed rate mortgage or a mortgage that combines fixed and variable rates. • A small number of mortgage …

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Central Banking Crisis

OTTAWA — Bank of Canada Governor Mark Carney’s options were quickly running out. The economy was still in deep decline, interest rates were already at their lowest ever and he couldn’t take them much lower without bumping up against zero. Like many central bankers these days, he turned to unconventional means. But instead of fully …

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Bank of Canada lowers overnight rate target by 1/2 percentage point

3 March 2009, OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent. The outlook for the global …

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Canada economy to recover in second half: economists

The Canadian economy should emerge from recession during the second half of the year as stimulus measures take effect, setting the stage for interest rate hikes in a year, a Reuters poll showed on Wednesday. The quarterly economic survey of 20 economists, conducted in the days before the Bank of Canada made an expected rate …

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Canada economy to recover in second half: economists

The Canadian economy should emerge from recession during the second half of the year as stimulus measures take effect, setting the stage for interest rate hikes in a year, a Reuters poll showed on Wednesday. The quarterly economic survey of 20 economists, conducted in the days before the Bank of Canada made an expected rate …

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Canada is entering a recession, decides Bank of Canada

The Canadian economy is going down hard and so are interest rates, and to what are their lowest levels in half a century, and for one key rate for consumers and businesses, the lowest level ever. The Bank of Canada, finally conceding that the Canadian economy is “entering a recession” slashed its trend-setting rate by …

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Atlas Shrugged: From Fiction to Fact in 52 Years

Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read “Atlas Shrugged” a “virgin.” Being conversant in Ayn Rand’s classic novel about the economic carnage caused by big government run amok was practically a job requirement. If only “Atlas” were required reading …

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