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Bank of Canada increases overnight rate target to
OTTAWA – The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposi...Canadian economy grows faster than expected in Jan
OTTAWA – The stalwart Canadian economy marched doggedly forward in January, growing faster than anticipated thanks to a healthy boost from a manufacturing sector that appeared to be in full rebound from the recession. The ...Big banks raise mortgage rates in sign era of hist
TORONTO - Rising mortgage rates announced Monday signal the end of historically low home borrowing costs and present Canadian consumers with a dilemma: either stay flexible, hope for the best and ride out the next several m...When it comes to mortgage details, most people jus
It is a legal document that stretches about 30 pages and runs about 10,000 words. Its execution takes no more than a couple minutes and when the ink dries on the signature lines, more times than not it is never read and...Pressure grows for Bank of Canada to hike rates
OTTAWA -- Pressure on the Bank of Canada to move early on raising interest rates mounted Monday after data on fourth-quarter gross domestic product suggested the economy is roaring its way out of recession after recording t...Bank of Canada maintains overnight rate target at
OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. The ongoing global econ...Bank of Canada urged to hike rates after June
OTTAWA -- With Bay Street convinced the Bank of Canada will maintain its pledge to wait until July to begin raising interest rates, the debate now turns to how aggressively the central bank should behave thereafter. In the...New mortgage rules
The Honorable Jim Flaherty, Minister of Finance, today announced a number of measured steps to support the long-term stability of Canada's housing market and continue to encourage home ownership for Canadians. "Canada's ho...Ottawa advised to tighten mortgage rules
February 10, 2010 OTTAWA — The federal government should avoid major surgery and make only minor adjustments to deal with fears of overheating in Canada’s housing market, a number of leading economists said Wednesday. ...Canadian Banks win praise
NEW YORK -- Paul Volcker, the former U.S. Federal Reserve Board chairman who's now a key economic advisor to the White House, told U.S. lawmakers Tuesday they ought to learn from Canada's banking system as they seek to ove...Looks like a V shaped recovery after all
OTTAWA -- Despite all the angst in financial markets over sovereign debt and the populist influence on banking reform proposals, the economies in the United States and Canada have chugged along the road to recovery at a pace ...Economic recovery becoming more solidly entrenched
OTTAWA - Canada’s economy is becoming more solidly entrenched with the private sector beginning to play an increasingly pivotal role in leading the country out of recession, the Bank of Canada said today in its latest policy ...Does my reno qualify for a tax credit?
With days until deadline, Canadians scramble to take advantage of the government's home renovation tax credit. With the Jan. 31 deadline just around the corner, anyone who still wants to take advantage of the federal governme...Research shows Canadian mortgage market can manage
New data collected by CAAMP indicates homeowners are borrowing less, not more, than they can afford to borrow Toronto, Ont. (January 14, 2010) – New research using data collected by the Canadian Association of Accredited...BOC see no housing bubble yet.
OTTAWA -- The Bank of Canada Monday dismissed talk of a housing bubble in Canada as "premature," warning that calls for higher interest rates now in an effort to temper real-estate markets would be akin to "dousing" the econo...TRY A MORTGAGE BROKER; THEY MIGHT SAVE YOU A BUNDL
If you think a mortgage broker is only a place to go when the bank says "no", you're not alone. But it's outdated thinking that could be costing you a bundle.. While Mortgage brokers may still be the "lenders of the last...Surprise! U.S. sales rise in September Up by 0.6%
U.S. retailers gave investors an early Christmas present, posting their first monthly sales increase in more than a year and suggesting that wounded consumers might begin to heal in time for the crucial holiday season. S...Canada's unemployment rate falls to 8.4%, first de
OTTAWA - Canada's unemployment rate fell for the first time in nearly a year to 8.4 per cent last month, in perhaps the clearest indication the hard-hit labour market may be recovering sooner than expected. The September...Average Canadian home prices up slightly, says Roy
TORONTO - The housing market may be recovering, but is experiencing an undersupply of homes for sale in southern Ontario and elsewhere in Canada. That's according to the latest house price survey by Royal LePage. It says w...North American economies seen growing
In a watershed moment that could signal the end of the global financial crisis days before the anniversary of the Lehman Brothers Holdings Inc. collapse, Timothy Geithner, the U.S. Treasury Secretary, said the United States w...Much ado about China.
Overblown announcements heralding the supposed coming of the Age of China have become a staple of journalistic futurism in recent years. When Maclean's magazine banners across the top of its cover "When China Rules the Wo...Is the economy ready to start creating jobs again?
OTTAWA - Canadian workers could be in for the most encouraging news in months Friday, just in time for Labour Day - a return to job creation coinciding with the first positive economic growth in almost a year. Jobs is ofte...Provincial economies looking up
- Saskatchewan will have the standout economy in 2010 as the provinces start to dig themselves out of recession, says a report from Laurentian Bank. While the report suggests there's a light at the end of the tunnel f...Ottawa changes rules for government guaranteed mor
While defaults in the Canadian mortgage market still run at less than 1%, Ottawa yesterday announced new measures to ensure we do not experience the type of real estate meltdown happening south of the boarder. Effective ...Banks' mortgage insurance costly,
September 2006 Canadians looking to wrap up new home purchases will find life insurance is a more flexible and a less costly alternative to mortgage insurance obtained through a bank. While it makes sense to cover large de...Hiring a Home Inspector
It's often said that one of the most expensive and important purchases you will ever make will be your home. However, unlike the guarantee a buyer receives with most purchases, there's no money-back guarantee or return poli...Rate Update By eMail
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