In June, the Canada Mortgage and Housing Corporation introduced new lending standards, and on July 1, they already took effect. In case you have enough money for your down payment, you have no reasons to worry, but if you’ve been planning to use a...

It’s the ninth week in a row that a consumer confidence in Canada keeps rising – mostly due a gradual economic reopening. The Bloomberg Nanos Canadian Confidence Index, a weekly composite measure showing the financial health and economic forecasts, reached 46 last week, which...

According to RBC, federal measures have effectively improved household purchasing power during the previous several weeks, partially offsetting a strong economic influence of COVID-19. In April, we’ve seen consumer activity reducing by 30% on a year-over-year basis. Meanwhile, due to gradual reopening of the...

On Wednesday, Canada lost its AAA credit rating from Fitch Ratings Inc., which downgraded it to AA+ rating and provided a stable economic forecast. According to Fitch, the government’s COVID-19 response measures will increase Canada’s debt to 115.1% of GDP this year. Meanwhile, it...

The International Monetary Fund (IMF) reduced its forecast for global growth in 2020 because it expects a stronger economic damage from the coronavirus than earlier. According to the IMF, the global economy will shrink by 4.9% this year, which is much worse than a...