Latest News Kim Stenberg 3 Jun
Bank of Canada Takes A More Positive Tone On the heels of a devastating decline in the Canadian economy, the Bank of Canada suggested today that the worst of the pandemic’s negative impact on the global economy is behind us, conceding, however, that uncertainty remains high. The Bank today maintained its target overnight rate at 0.25%. […]
Read MoreLatest News Kim Stenberg 29 May
Near-Record Decline in Q1 GDP Better Than Flash Estimate The hand-wringing about the Q1 GDP data released today misses the point that the data were actually better than expected. The Canadian economy declined at an 8.2% annualized rate in the first quarter, less harsh than the earlier estimate by StatsCan of -10%. Of course, every sector of […]
Read MoreLatest News Kim Stenberg 16 Apr
As we expected, the Bank of Canada did not change their key interest rate. Ready to do whatever it takes to protect the Canadian economy during these unprecedented times. Here is Dr. Sherry Coopers post with more details…. On the heels of a devastating decline in the Canadian economy, the Bank of Canada is […]
Read MoreLatest News Kim Stenberg 14 Apr
Canada Loses Over a Million Jobs in March Employment in Canada collapsed in March, with over one million jobs lost, wiping away over three years of job creation in a single month and highlighting the economic pain the coronavirus pandemic has swiftly delivered. The decline in jobs in Canada, on a proportional basis, was steeper […]
Read MoreGeneral Kim Stenberg 6 Apr
Want to enjoy a financially stress-free retirement? I can help. Do you have the funds to live the retirement you’ve been dreaming of? If you’re like many Canadians, you may find yourself house rich but short on funds. The good news is that if you’re a homeowner who is 55+, there’s a solution to […]
Read MoreLatest News Kim Stenberg 27 Mar
Bank of Canada Moves to Restore “Financial Market Functionality” The Bank of Canada today lowered its target for the overnight rate by 50 basis points to ¼ percent. This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the […]
Read MoreLatest News Kim Stenberg 10 Mar
Markets shuddered in the face of a price war for oil and the economic fallout from the growing outbreak of coronavirus. Frightened investors poured into haven assets sending yields to unprecedented lows. Oil prices tumbled 30% after Saudi Arabia said it would cut most of its oil prices and boost output when Russia refused to […]
Read MoreLatest News Kim Stenberg 5 Mar
The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to do more if necessary. The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that […]
Read MoreGeneral Kim Stenberg 3 Mar
It’s that time of year when we are compiling our receipts and updating our spreadsheets to file taxes for 2019. As a homeowner, here are some deductions and expenses you should be discussing with your accountant. HOME BUYERS TAX CREDIT You can claim $5,000 for the purchase of a qualifying home in the year if both of […]
Read MoreGeneral Kim Stenberg 25 Feb
Down payment is an essential component of every application when purchasing property – minimum amount required AND verifying the source of the money. The federal government has imposed strict rules (FINTRAC anti-money laundering and anti-terrorist financing regime) that ALL federally regulated banks and lending institutions must follow. This legislation came into effect as an attempt […]
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