Stephen Poloz named Canada’s next central bank chief – Financial Post
After months of anticipation, Finance Minister Jim Flaherty shocked many by announcing that Stephen Poloz would be taking over Mark Carney’s position as Governor of the Bank of Canada. Most news sources had predicted Flaherty would appoint Tiff Macklem, the bank’s senior deputy governor, as his current position leaves him as the most obvious choice. However, Flaherty believes Poloz is the strongest candidate, as he brings a previous 14-year stretch at the Bank of Canada as well as years working abroad – including stints at the International Monetary Fund in Washington and the Economic Planning Agency in Tokyo. “Mr. Poloz has significant knowledge of financial markets and monetary policy issues and extensive management experience. We are confident Mr. Poloz will make an outstanding contribution to the work of the Bank and uphold its reputation as a leading central bank,” said David Laidley, Chair of the Special Committee of the Board of Directors.
Stuck in traffic: How mortgages could ease congestion – CBC News
A recent Pembina Study found that 80 per cent of residents in the Greater Toronto Area would give up the suburban lifestyle (big house, big car), in order to live in one of the walkable and transit-friendly neighbourhoods in the downtown core. Unfortunately, this tends to be more of a dream than a reality for most people, especially first-time buyers, as downtown property comes at a high cost. Continue reading
The Canadian Imperial Bank of Commerce (CIBC) is one of the biggest banks in Canada, controlling 13.6% of Canada’s $1.1 trillion dollar mortgage market. Recently, CIBC conducted a poll of over 1000 people across the nation asking for opinions on mortgages. The results yielded a few interesting points.
Ladies and gentlemen, hold on to the edge of your seats as we move into the third round of this exciting mortgage calculator battle. The winner of today’s battle will be declared our tournament winner! But that won’t be the end of the road for this champion. Not yet anyway- the champion will face its final challenger, RateHub’s own 
As we move on to the second round of our Mortgage Calculator Battle, we find two of Canada’s banking giants, CIBC and Scotiabank, ready to slug it out. Both banks have provided excellent mortgage payment calculators thus far. The winner of this tournament will face the ultimate test – A one-on-one duel with Ratehub’s very own calculator in a superfight to determine Canada’s best mortgage calculator.
What is a cash back mortgage? This is a type of mortgage where the borrower receives cash back at the time of closing their mortgage. This rebate usually varies amongst lenders from 1% to 5%. The cost of obtaining a cash back mortgage is reflected in its higher interest rate (to make up the difference the lender is fronting to the borrower). 
The internet is the best resource in the world for locating what you need, but due to its vast nature, narrowing the best of something isn’t always easy. Every day, thousands of Canadians search for