January 15, 2018

Category: About Sherry Articles Media Reporting on Sherry

December Homes Sales Surged In Advance of New Mortgage Rules

The January 1 implementation of the new OSFI B-20 regulations requires that uninsured mortgage borrowers be stress-tested at a mortgage rate 200 basis points above the contract rate at federally regulated financial institutions. It is no surprise that home sales rose in advance of the new ruling in November and December. Even so, activity remains…

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January 5, 2018

Category: About Sherry Articles Media Reporting on Sherry

Robust Canadian Jobs Report for December Tops Off a Blockbuster Year

The highly anticipated December Labour Force Survey, released this morning by Stats Canada, surpassed forecasts breaking multi-year records. Canada’s jobless rate fell to 5.7% in December, its lowest level in more than 40 years, raising the prospects for a Bank of Canada rate hike possibly as soon as this month. The number of jobs rose…

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December 19, 2017

Category: About Sherry Articles Media Reporting on Sherry

Much Ado About Almost Nothing–Non-Resident Ownership of Housing

Statistics Canada in conjunction with Canada Mortgage and Housing Corporation (CMHC) released their first report this morning from the Canadian Housing Statistics Program (CHSP), providing data regarding the non-resident ownership of Canadian housing. This program was mandated by the last federal budget, filling in a significant data gap in housing statistics. For years, many have…

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December 15, 2017

Category: About Sherry Articles Media Reporting on Sherry

New Mortgage Rules Coming Jan 1 Boost November Home Sales

So here we are in the lead-up to the January 1 implementation of the new OSFI B-20 regulations requiring that uninsured borrowers be stress-tested at a mortgage rate 200 basis points above the contract rate at federally regulated financial institutions. It is no surprise that home sales rose in advance of the new ruling. Even…

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December 6, 2017

Category: About Sherry Articles Media Reporting on Sherry

No Surprises from the Bank of Canada

Holds Steady–Will Raise Rates Only Cautiously The Bank of Canada held overnight interest rates at 1.0% once again, following the two consecutive rate hikes at the July and September meetings. It was widely expected that the Bank would retake a breather this round despite the much stronger than expected November employment report and the recent…

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December 1, 2017

Category: About Sherry Articles Media Reporting on Sherry

Incredibly Strong Jobs Report in November, Q3 GDP Growth Slowed On Weak Exports and Housing

The highly anticipated November Labour Force Survey, released this morning by Stats Canada, surpassed all forecasts breaking multi-year records. Employers added a whopping 79,500 jobs last month, bringing the gains over the past 12 months to nearly 400,000. November’s data posted the most robust job market since the 2008-09 recession as the jobless rate plunged…

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November 29, 2017

Category: Media Reporting on Sherry Video

OSFI rules will make the consumer less of an economic growth driver: Economist

From Business News Network (BNN): BNN gets instant reaction to the Bank of Canada’s Financial System Review from Sherry Cooper, chief economist at Dominion Lending Centres. She says the new OSFI rules will slow down the housing market and make the consumer less of a driver of economic growth.

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November 15, 2017

Category: About Sherry Articles Media Reporting on Sherry

Housing Is No Longer A Canadian Growth Leader

Various levels of Canadian government and regulatory authorities have repeatedly introduced measures to slow housing since 2008 in response to concerns about the record level of household debt. To be sure, there is a swath of Canadian households that are over-extended, and they get the lions share of the attention. Just this week, Evan Siddall,…

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November 1, 2017

Category: About Sherry Articles Media Reporting on Sherry

Decision Day At The Fed

The policymakers at the U.S. central bank decided to leave the target range for the federal funds rate (equivalent to the Bank of Canada overnight rate) unchanged at 1 to 1-1/4 percent acknowledging that the stance of monetary policy remains accommodative. This stance will allow the labour markets in the U.S., which are already very…

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October 25, 2017

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada On Sidelines, As Expected

BOC Will Raise Rates Only Cautiously The Bank of Canada held overnight interest rates at 1.0% following two consecutive rate hikes at the July and September meetings. It was widely expected that the Bank would take a breather this round. The central bank also released its quarterly Monetary Policy Report (MPR) today, in which it…

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