Today’s budget will likely encompass a full range of enticements for first time home buyers, seniors and a national pharmacare program. The cooling that the government had wanted, it got right between the eyes, home sales have plummeted and now it may remove the mortgage stress tests and extend the amortization from 25 to 30 years. If so, then there should be a jump in sales. The national pharmacare program will only affect low income households, it will be years before it becomes a fully functional allowing all Canadians to be a member.
The Canadian dollar is stronger on higher oil prices, oil has traded over $59 USD a barrel, but it has been unable to maintain its new levels, traders are waiting to see what tomorrow’s inventory numbers look like.
Currently Close Range
USDCAD 1.3305 1.3334 1.3251-1.3344
EURCAD 1.5101 1.5117 1.5041-1.5136
GBPCAD 1.7673 1.7675 1.7560-1.7716