As expected the Bank of Canada raised their rate by 1/4% this morning. Bank prime is now at 2.75%.   They comment that inflation is in line with their projections. Also, that overall economic growth is weaker than previously anticipated. Hopefully this will mean rates staying in the low ranges we currently are experiencing. We do not […]

Well it finally happened, the Bank of Canada raised it’s rate by 1/4% this morning. This is the start of an upward trend with them. Their last paragraph in the announcement speaks as to the uncertainty in the markets. They are acknowledging that they will be cautious on more rate increases until they see more indicators […]

I just want to provide a head up for anyone who may be in the market for an upcoming mortgage and who may not be watching the Bank of Canada announcements or long term rate predictions. If you haven’t been following them closely, they are still near the lowest in History however this will not last much longer!! […]

NORTH AMERICAN & INTERNATIONAL ECONOMIC HIGHLIGHTS   At this time it is important to put the Greek situation in perspective. Will we be talking about Greece 12 months from now? Clearly, no one can predict how the stock and bond markets will react in the coming weeks to developments in Europe. After all, as we all […]

April 6 (Bloomberg) — Canada’s five-year bond yields rose to the highest level since October 2008 as banks hedged mortgages and the nation’s fixed-income market caught up to declines in U.S. Treasuries. Canada’s home buyers are stepping up borrowing as they seek to beat pending changes to mortgage regulations and increases in interest rates. Banks […]

Royal Bank and TD Canada Trust announced Monday March 29, 2010 they are increasing several mortgage rates by up to 6/10ths of a percentage point. The biggest jump is attached to the popular five-year fixed closed rate, which moves from 5.25 per cent to 5.85 per cent at both banks. That’s the posted rate, which is […]

Housing starts will strengthen this year and next, and that increase in supply should keep a lid on further house-price increases, Canada’s national housing agency predicted Tuesday. Starts subsided to 149,081 units last year, with activity picking up in the second half. This year, housing starts are expected to be between 152,000 and 189,300 units. […]

Economists are debating the timing, and extent, of the central bank’s first rate moves, and some now suggest they will start earlier than they had initially forecast. The Bank of Canada is on heightened alert for inflation and a stronger recovery than it had bargained for.  The central bank continues to hold interest rates at […]

Bank of Canada Urged to Hike Rates After June OTTAWA — The Bank of Canada should uphold its conditional pledge to keep its key policy rate at 0.25% until July but should then embark on sharp rate hikes of 50 basis points at every announcement date until mid-2011, says an analysis prepared for the C.D. […]

I hope everyone had a fantastic long weekend.  We truly made the best of each day.  Friday we moved into our new downtown office.  It was such a relief when the furniture fit and looked just the way we wanted it too!!  Then off to Toronto our family went for a valentines celebration.  We stayed […]