July 2, 2020

Category: About Sherry Articles Media Reporting on Sherry

Special Guest on The Everyday Millionaire Podcast

Dr. Sherry Cooper was recently featured on Episode #92 of The Everyday Millionaire podcast where she discussed various insights about the current economic situation, the power of PIVOT and focusing on the way forward. Click here to listen to the full episode. “Everybody needs to keep feeing their minds and their bodies healthfully and… continue…

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June 30, 2020

Category: About Sherry Articles Media Reporting on Sherry

The Globe and Mail: Housing Outlook

In case you missed it, Dr. Sherry Cooper was recently featured on The Globe and Mail’s Housing Outlook webcast. This discussion called on various experts to outline the impacts of the pandemic on housing, along with potential paths forward. The discussion also included updates on the economic effects of COVID-19, housing market forecasts and government…

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June 30, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian GDP Plunges in April With Modest Uptick in May

Canada’s Economy Plunged 11.6% in April The pandemic shutdown put every sector of the economy into a medically induced coma, so it was no surprise that the first full month of lockdown would be ugly. Indeed, consensus estimates were worse than the 11.6% drop in economic activity reported this morning by Statistics Canada (see chart below)….

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June 22, 2020

Category: About Sherry Articles Media Reporting on Sherry

Governor Macklem Affirms No Negative Interest Rates

First Formal Remarks By Tiff Macklem, Bank of Canada Governor There were no surprises this morning from Governor Macklem’s virtual presentation to the Canadian Clubs of Canada. His opening written statement was quite brief and it was followed up with a Q and A. Here are the key points that he emphasized. Negative interest rates are…

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June 18, 2020

Category: About Sherry Articles Media Reporting on Sherry

Sherry Cooper Opening Statement to Parliament’s Finance Committee

Opening Statement Before the House of Commons Standing Committee on Finance None of us has any experience in dealing with a medical emergency that has become an economic crisis, and none of us knows how long this will last or how the end game will play out. I think we all can agree that this…

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June 15, 2020

Category: About Sherry Articles Media Reporting on Sherry

Canadian Home Sales and New Listings Recover One-Third of Pandemic Loss in May

Record Gains in Canadian Home Sales and Listings in May There was good news today on the housing front. Home sales surged by a record 56.9% in May from April’s unprecedented collapse. Data released this morning from the Canadian Real Estate Association (CREA) showed national home sales recovered roughly one-third of the COVID-induced loss between February…

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June 5, 2020

Category: About Sherry Articles Media Reporting on Sherry

Good News in May Jobs Report–10.6% Recovery in COVID Losses

More Green Shoots–Employment Rebounds 10.6% in May  The doomsayers have been proven wrong by this employment report and by the high-frequency data that have been pointing to the start of a rebound in Canada’s economic activity. We have been signalling green shoots in the economy for several weeks, and while these are early days, those…

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June 5, 2020

Category: About Sherry Articles Media Reporting on Sherry

CMHC Makes It Harder To Qualify For An Insured Mortgage

CMHC Makes It Harder To Qualify For An Insured Mortgage Once again, the Canadian Mortgage and Housing Corporation (CMHC) is tightening the criteria to get a mortgage with less than a 20% down payment. Any potential home buyer with less than a 20% down payment must purchase default insurance on their loan and have a…

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June 3, 2020

Category: About Sherry Articles Media Reporting on Sherry

Bank of Canada Holds Rates Steady

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%….

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May 29, 2020

Category: About Sherry Articles Media Reporting on Sherry

Lockdowns Hit Canadian Q1 GDP

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…

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