Cielo condos floor plan. Canada is on a buying spree! Figures released by Statistics Canada show that Canada’s real gross domestic product (GDP) fell by 5.4% for the whole of 2020.Please Visit: Cielo condos floor plan to Get Your VVIP Registration Today!
This is the biggest annual decline since quarterly data were first recorded in 1961. Fortunately, real GDP rebounded in the fourth quarter of 2020, growing by 2.3%.
In other words, no matter how good the economy is, it cannot withstand the repeated twists and turns of the epidemic. But interestingly, when people are pessimistic and worried about Canada’s economic recession because of the media reports, it shows that household wealth has increased in almost all income groups in Canada during the epidemic.
As can be seen from the table above, the wealth of Canadian households declined significantly in the first quarter of 2020 (a large number of workers lost their jobs as a result of the epidemic), but has been growing by leaps and bounds since then.
Isn’t it very interesting! GDP is bad, but families are richer!
The reason is simple-the generous handing out of money by the federal government during the epidemic has made some families even more rich than they were at work!
There are other ultra-low five-year floating mortgage rates nationwide, such as Simplii’s high-ratio mortgage rate of 1.65% and Tangerine’s uninsured mortgage loan (Uninsured Mortgage) rate of 1.7%, Mellister said.
The HSBC interest rate adjustment comes after other well-known Canadian banks have begun to act:
The first ad at the end of November was an interest rate promotion from CIBC, which fell to 1.49% after a four-year fixed rate discount, followed by a four-year fixed rate promotion of 1.49% as strong as CIBC.