Economy

Mortgage debt soars 7.6%

Canadians owe a record $1.01 trillion through their mortgages, an increase of 7.6% over last year. But most appear comfortable with their debt load, according to the Canadian Association of Accredited Mortgage Professionals (CAAMP). The organization’s sixth Annual State of the Residential Mortgage Market report found that 84% believed they could handle an increase of […]

By Steven Lamb |November 8, 2010

1 min read

American shoppers in a dour mood

It probably comes as no surprise, but American consumers are planning to spend less this holiday season than they did last year, according to the RBC Consumer Outlook Index. The monthly survey found that 46% of shoppers plan to spend less, and an additional 8% said they will spend nothing at all. Matters were no […]

By Steven Lamb |November 4, 2010

2 min read

QE2 likely won’t help U.S. economy

While the stock markets have (eventually) responded enthusiastically to the Federal Reserve’s second round of quantitative easing, economists question whether the program will have the desired effect of re-inflating the U.S. economy. At best, the Fed appears to have simply ensured interest rates will remain at rock-bottom levels at least until June. That would be […]

By Steven Lamb |November 4, 2010

2 min read

Expect slow, steady growth: Scotia’s Kellett

The North American economy should experience moderate, sustainable growth with low inflation in the coming year, according to John W. Kellett, senior advisor, mutual fund business development at Scotia Asset Management. The market veteran says the latest recession, while bad, fits into a historical pattern — there have been 32 periodic economic setbacks since the […]

By Sarah Snowdon |October 28, 2010

3 min read