Gina Burgio, Mortgage Agent

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Canadian Dollar at par with US Dollar

It seems like yesterday when the Canadian Dollar was at par with the US Dollar. It took less than 2 years for the exchange rate to equalize again. But what does this mean for the Canadian economy?

Generally, the lower the value of the Canadian dollar, the more Canada was trading. When the dollar was at par in July 2008 it reflected a weakening economy in Canada. But is that still the case?  More than ever Canada's economy is strong in comparison to markets with which we are trading.

In terms of trade a strong dollar weakens Canada's selling points, but could a strong economy within Canada compensate for a loss in trade? We already have a booming real estate market and interest rates haven't been lower in years. Perhaps the way Canada will benefit is through an increase in foreign investment for future gains.

I suppose only time will tell.

What are your thoughts?

Gina Burgio

Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com

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Comment balloon 4 commentsGina Burgio • April 06 2010 12:11PM

Comments

Thanks for the good information - and for the Active Rain blog post.  It's so good to learn about issues like this from other professionals like yourself.  In my daily life I don't really reflect on how we impact others globally like this.

Posted by Melissa Hailey, Collin County Realtor-Lucas, Murphy, Plano, Parker (North Texas Top Team, REALTORS (Plano, Murphy, Wylie)) over 7 years ago

Hi Gina,

I'm with you and suppose time will tell. With the economy already fluxuating from bad to okay to getting better to slowing down again, it's hard to predict anything anymore...even several financial advisors I've spoken with give a little shrug when asked to comment.

 

Posted by Not In Real Estate Any Longer over 7 years ago

Canada rocks! We've got oil, minerals , hydro, and tons of commodities. We've got the best improving economy of the G-20 . We are the envy of the world! It doesn't matter much that we are on par with the american dollar. We trade with the

Europeans and the chinese as well. The Euro has basically tanked and it hasn't hurt us yet.

Posted by Paul Viau, High Shots Photography - Real Estate Services (High Shots Photography) over 7 years ago

hey Gina, i just got back on activerain and got busy blogging again.  you were one of the first people i followed here about 7 years ago, so i was just checking to see if you still log in here or if these comments still reach you.

Posted by Robert May, Real Estate & Mortgage Expert - Lethbridge, AB (Robert W May - Lethbridge Real Estate) over 1 year ago

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