GDP grew by 0.5% in the second quarter, after increasing by 1.4% in the first quarter. This is well below the expected 2.5% by many analysts. It is no wonder: although the unemployment rate has dropped it seems that things aren’t chugging along as robustly as some may think. The USA is still in turmoil from an economic standpoint, and our exports are suffering. Hopefully our manufacturers are using the high Loonie to purchase equipment to make them more efficient. While some people ...
Fixed mortgage rates will likely fall in the coming week. Bond yields are down as a result of weak GDP numbers for April at 0.00% growth. (That’s right ~ the economy was stagnant in April.) The USA is in the same shape, with a lagging economy and uncertain outlook on the horizon. This leads the way for the Bank of Canada to leave its overnight lending rate at its current level, which is great news for variable rate mortgage holders. It is highly likely that we will see rates remain ...
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