With no sign of any easing coming from U.S. policymakers the markets take a tumble.
Initial jobless claims in the U.S. were down for the week at 350,000 – a drop of about 16,000 from the previous week. The U.S. unemployment rate stands at 8.2%. Figures released in Greece today put its unemployment rate at a staggering 22.5% in April.
U.S. import and export prices both fell in June. Import prices dropped 2.7%, the third consecutive monthly decline, led by fuel prices. Export prices dipped 1.7% led by a decline in agricultural prices.
Home prices in Canada continued to creep up in May, rising 0.3%. Strong increases in Toronto led the way in the month before Ottawa announced it was going to tighten mortgage rules.
Tags: Commercial, Mortgages, Apartment, Multi-family, Financing, Lending, Canada, Vancouver, Calgary, Montreal, Toronto, Halifax, CMHC