TORONTO (Reuters) – One of the U.S. central bank’s most outspoken policy doves on Tuesday called for the Federal Reserve to unleash even more monetary stimulus, saying interest rates should stay near zero until the jobless rate falls to at least 6.5 percent.
Such a policy would carry “only minimal inflation risks,” Charles Evans, president of the Chicago Federal Reserve Bank, said in remarks prepared for delivery to the C.D. Howe Institute in Toronto.
TORONTO, Nov 26 (Reuters) – Developers of the Trump
International Hotel in Toronto have pushed back the closing date
for the sale of luxury condo units at the project, the latest
delay in a venture plagued by bad press and lawsuits by and
against disgruntled investors.
Talon International Inc, which developed the 65-story
granite and glass hotel-condominium tower that opened this year
in Toronto’s business district, said it was pushing back the
closing date by two weeks to Dec. 13 to respond to an
investigation by the Ontario Securities Commission.
TORONTO, Nov 22 (Reuters) – Falling home prices and an
uptick in household income made Canadian home ownership slightly
more affordable in the third quarter, but the longer-term trend
is largely unchanged, according to a report by RBC Economics
released on Thursday.
RBC, Canada’s largest bank and a huge mortgage lender,
measured affordability as the percentage of monthly pre-tax
income for a household needed to cover the typical costs of
owning a home, including mortgage payments, utilities and
TORONTO, Nov 21 (Reuters) – Canadian home prices dipped in
October from September and year-over-year price gains slowed for
the 11th straight month in yet another sign Canada’s hot housing
market has cooled, the Teranet-National Bank Composite House
Price Index showed on Wednesday.
The index, which measures price changes for repeat sales of
single-family homes, showed overall prices fell 0.2 percent in
October from a month earlier, only the third October drop in 13
years of data.
TORONTO, Nov 9 (Reuters) – Tammy Oribine was a financial
planner for just a couple of months when she realized it was not
the job for her. She did not like sales, did not feel confident
enough about the products and hated the face-to-face contact
that is a staple of the business.
“A lot of it has to do with personality — I don’t find I’m
the most personable person, and I’m bad at small talk,” Oribine,
29, said with a laugh.
TORONTO, Nov 15 (Reuters) – Sales of existing homes in
Canada fell in October from September and year-over-year sales
were down as well, the Canadian Real Estate Association said on
Thursday in the latest signal that the housing market is
The industry group for Canadian real estate agents said
sales were down 0.1 percent in October from September. Actual
sales for October, not seasonally adjusted, were down 0.8
percent from a year earlier.
TORONTO, Nov 14 (Reuters) – Canada’s housing market is
leveling off but economic strength, immigration and low interest
rates will prevent a steep correction and keep prices and sales
mostly flat in 2012 and 2013, real estate agency RE/MAX said on
In its 2013 outlook, based on a survey of trends in 26
markets, RE/MAX said it expects national sales to fall 1 percent
in 2012 and then hold steady in 2013, while prices will be flat
in 2012 and edge 1 percent higher in 2013.
TORONTO, Nov 9 (Reuters) – The Canada Pension Plan
Investment Board, one of the world’s biggest pension funds and
global dealmakers, reported a 1.9 percent return on investments
for the second quarter, as financial markets gained globally.
CPPIB, which manages Canada’s national pension fund, said on
Friday that its assets had risen to a record C$170.1 billion
from C$165.8 billion three months earlier. The C$4.3 billion
increase in net assets after operating expenses resulted from
C$3.1 billion in investment income and $1.3 billion in net
Canada Pension Plan contributions.
TORONTO, Nov 8 (Reuters) – Canadian housing starts fell in
October as both single and multiple urban starts slumped, Canada
Mortgage and Housing Corp said on Thursday in a report that
confirms further slowing in the country’s once-booming housing
The seasonally adjusted annualized rate of housing starts
was 204,107 units in October, down from 223,995 in September and
18.9 percent below the cyclical peak of 251,802 reached in
TORONTO, Nov 5 (Reuters) – The pace of homebuilding in
Canada will continue to moderate in the last quarter of 2012 and
into 2013, while existing home sales should hold steady and
prices climb at or just below the inflation rate, Canada
Mortgage and Housing Corp says.
The federal housing agency’s forecast on Monday for a
weaker, but still healthy, housing sector echoed a string of
data that has shown Canada’s recently red-hot real estate market
cooling, but without signs of a crash landing.