Low mortgage rates tempt, but penalties for breaking can be high
Canada’s financial leaders are under pressure to provide a clearer picture of the housing market, in the face of conflicting opinions about the health of a sector that is crucial to the national economy.
What’s a buyer in the marginal category to do?
Time to strap on your seatbelt. The yield on the U.S. 10-year bond will shoot up to 3% by the end of this year, nearly twice this year’s lows, says Royal Bank of Canada’s chief U.S. economist.
Starting on Wednesday May 8, 2013, Equifax will begin reporting telecommunication (Telco’s) companies’ trade lines on your credit bureau reports (Bell, Rogers, Telus etc.). While all Equifax account holders nationwide will have these trades reported on their bureaus by August 1st, we have arranged to have them delivered to you now.
CALGARY — The benchmark price of single-family homes in the city reached a new high of $452,900 in April, as market conditions that favour the seller finally drove prices above the unadjusted peak in 2007, said the Calgary Real Estate Board.
“It’s really encouraging to see that the Calgary market remains strong,” said Becky Walters, CREB’s president, in releasing the MLS data for April on Wednesday. “It’s reassuring to both buyers and sellers to see that this area is outperforming many parts of the country.”
By The Canadian Press:
OTTAWA – The Bank of Canada says it is holding firm on interest rates even though the economy is considerably weaker than it has anticipated.
Canada’s central bank has lowered its 2013 economic growth forecast to 1.5 per cent from the previous estimate of two per cent.
Preet Banerjee Globe and Mail Jan 21 2013
Recent polls and studies remind us that many Canadians have lots of credit card debt and little retirement savings. Fortunately, for some people, there is a way to reverse that – almost overnight.
As long as you can commit to running a balanced budget, or ideally a surplus budget, you will eliminate a high-interest debt used to pay for depreciating assets and replace it with a low-interest debt used to fund an appreciating investment.
Ottawa, Ontario - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
Here is what’s changing for federally regulated lenders: