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Canada economy to rebound this year after energy slump: minister

Canada's Finance Minister Morneau speaks in the House of Commons in OttawaCanada's economy should rebound "over the course of the year" from the impact of a wildfire in its energy heartland, Finance Minister Bill Morneau said on Saturday on the sidelines of a G20 meeting in Chengdu, China. The fire in the province of Alberta is estimated to have cut daily oil production by more than 1 million barrels and the Bank of Canada estimates it will shave 1.25 percentage points off economic growth in the second quarter. "We were approximately right in our expectations in our budget," he said of Canada's fiscal plan introduced in March, which promised growth spurred by government spending.


Today's Rates*

TermRateAPR
30 Yr Fxd3.50%3.735%
15 Yr Fxd2.75%3.18%
5 Yr ARM2.875%3.602%
*=This is only an estimate, provided for illustrative purposes only. Actual rates and payments may vary. It does not constitute a quote.

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