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End of an era as Poloz exits Bank of Canada

End of an era as Poloz exits Bank of Canada

June 1, 2020 | Posted by: Maurice Kwok

Stephen Poloz had only been Governor of the Bank of Canada for a few months in the late summer of 2013, when he gave a speech that defined his unique communication style and signalled a new era for a ... [read more]

My Best Rates for the Coming Week

My Best Rates for the Coming Week

May 30, 2020 | Posted by: Maurice Kwok

... [read more]

Canada’s economy saw record decline in March; worse numbers forecast for April

Canada’s economy saw record decline in March; worse numbers forecast for April

May 29, 2020 | Posted by: Maurice Kwok

The Canadian economy took a record-setting dive in March as provinces imposed lockdown measures to curb the spread of COVID-19, a preview of worse numbers to come for April. Real gross domestic produ ... [read more]

The Big Six Canadian Banks Profits in Q 2 Drop

The Big Six Canadian Banks Profits in Q 2 Drop

May 28, 2020 | Posted by: Maurice Kwok

Bank of Montreal profit drops more than 50% as credit losses loom Bank of profit drops more than 50% as credit loss loom. BMO set aside $1.12 billion for future loan losses, vastly higher than $176 m ... [read more]

RBC profit falls 54% as loan-loss provisions spike amid COVID-19 pandemic

RBC profit falls 54% as loan-loss provisions spike amid COVID-19 pandemic

May 27, 2020 | Posted by: Maurice Kwok

Royal Bank of Canada’s second-quarter profit fell 54 per cent as the bank built up massive reserves to cover potential losses on loans as a result of the coronavirus pandemic. Canada's largest ... [read more]

Scotiabank profit drops 41% as loan-loss provisions soar amid pandemic fallout

Scotiabank profit drops 41% as loan-loss provisions soar amid pandemic fallout

May 26, 2020 | Posted by: Maurice Kwok

Bank of Nova Scotia’s second-quarter profit plunged by 41 per cent as funds earmarked to cover loan losses soared in response to the coronavirus pandemic. Scotiabank is the first major Canadian ... [read more]

Pandemic puts downward pressure on residential rents

Pandemic puts downward pressure on residential rents

May 25, 2020 | Posted by: Maurice Kwok

As the COVID-19 pandemic dampens tenant demand, there are mounting signs that residential rent inflation is slowing, particularly in urban markets that have been racked by affordability concerns for y ... [read more]

Canada looking to increase minimum mortgage down payments from 5% to 10%

Canada looking to increase minimum mortgage down payments from 5% to 10%

May 23, 2020 | Posted by: Maurice Kwok

Canada is looking to stop its historic household debt soaring even higher due to the novel coronavirus crisis by requiring higher mortgage down payments, the country’s national housing agency sa ... [read more]

CMHC predicts house prices could drop up to 18 per cent

CMHC predicts house prices could drop up to 18 per cent

May 22, 2020 | Posted by: Maurice Kwok

Canada’s national housing agency is predicting home prices could plummet up to 18 per cent and mortgage arrears could soar to 20 per cent, a forecast some economists and real estate experts say ... [read more]

Canadian home sales sank 57% in April as COVID-19 pandemic hammered market

Canadian home sales sank 57% in April as COVID-19 pandemic hammered market

May 20, 2020 | Posted by: Maurice Kwok

Canadian home sales tanked and price dipped in April over the previous month, marking the weakest activity since 1984 as the coronavirus pandemic slammed the housing market. Last month, 16,612 homes ... [read more]

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Maurice Kwok
Maurice Kwok, MBA CPA MA
Toronto, Mortgage Broker

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