Record low rates days are numbered

General Angela Calla 11 Feb

Housing market will be stable next two years: RBC A stronger economy will offset the effects of higher mortgage rates andkeep Canadian house prices stable over the next two years, according tothe Royal Bank of Canada.In a market update that has the bank forecasting price gains of 0.5 percent in 2011 and 1.3 per cent […]

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Lifestyle and expenses determine how much money is needed in retirement

General Angela Calla 10 Feb

By LuAnn LaSalle, The Canadian Press MONTREAL – Your current lifestyle may impact your retirement more than you think. Can it be sustained? How much money will it take to maintain the standards you’re used to? What will it take in RRSPs, investments, savings and private and government pensions once retired? “Understand how much it […]

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Canada’s housing market could prove more resilient in 2011 than predicted

General Angela Calla 10 Feb

By Sunny Freeman, The Canadian Press TORONTO – Canadian home sales this year will be better than previously thought, helped by improving consumer confidence that will partially offset the anticipated deterrent of interest rate hikes, the Canadian Real Estate Association predicts. CREA released a revised forecast Tuesday that estimates there will be 439,900 existing homes […]

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Scheme saw large mortgages obtained with stolen identification

General Angela Calla 7 Feb

HAMILTON — A 45-year-old Hamilton woman has pleaded guilty to six charges in connection with the use of false documents to defraud local financial institutions of more than $200,000 in mortgage funds. Lauren Paolini is believed to be one of six accused involved in the scheme that saw large mortgages obtained with stolen identification for […]

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Three million Canadian cash in on home reno tax credit, short of target

General Angela Calla 27 Jan

By The Canadian Press OTTAWA – Ottawa says over three million Canadians took advantage of the temporary home renovation tax credit, on average pocketing about $700 each. But that is less than what Finance Minister Jim Flaherty targeted when he introduced the one-year program in 2009 as part of the government’s stimulus package. The government […]

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Canadian, U.S. consumers more hopeful about jobs, finances, purchases-watch for rate increases

General Angela Calla 26 Jan

By Julilan Beltrame, The Canadian Press OTTAWA – North American consumers are starting to feel better abouttheir personal finances and the economy, a hopeful sign for the stillfragile recovery.Two fresh surveys, one by the Conference Board in Canada and anotherfrom the International Monetary Fund in the U.S., detected an identicalpattern of rising confidence in January, […]

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