Since that time we sing the virtues of savings, Canadians seem to have collectively decided to take action. Then in 2007 they spared only 2.5% of their disposable income, they save twice today. And it will continue to increase. The savings rate hit 7% of disposable income at the end of 2009, according to forecasts of service Desjardins Economic Studies. (more...)

The Governor of the Bank of Canada, Mark Carney, and Finance Minister Jim Flaherty, both appear to agree about the risks that always runs the Canadian economy and to cope they urge Canadians to reduce their indebtedness. But they certainly did not have the support of all experts. Indeed, the finance minister has announced he wants to tighten the terms of mortgage financing in Canada. Without giving a specific purpose, the Minister informed that the first minimum downpayment of a home buyer will eventually be greater than 5% as is currently the case. Then he said that the terms of depreciation, that is to say, the mortgage maturity, which can stretch over 35 years now, will henceforth be shorter. (more...)