Reuters MBA Mortgage Applications — The number of mortgage applications in the U.S. declined for a fifth straight week, led by a drop in refinancing despite mortgage rates dropping to a record low. The Mortgage Bankers Association’s index decreased 0.2% for the week ended Oct. 1. Refinancing fell to an eight-week low, while purchases increased […]

By Sunny Freeman, The Canadian Press TORONTO – Home sales rose in August on a monthly basis for the first time since March but prices remained flat — signs of health in Canada’s real estate market that should deflate fears of a housing bubble. There were about 32,800 transactions in August, up 4.1 per cent […]

Contrary to most economists’ expectations, did not signal a pause for its next decision in October (Reuters)By Louise Egan OTTAWA (Reuters) – The Bank of Canada raised its benchmark interest rate for a third consecutive time on Wednesday and sounded surprisingly hawkish despite predicting a more gradual than expected economic recovery. The central bank nudged […]

Live in Studio with Bill Good we discussed why variable rates are so attractive right now, and how important it is to understand the factors of what has been holding some individuals back from taking advantage of todays record lows. Click here to see the 9 minute segment  http://www.youtube.com/watch?v=x8mtvKRpePo    What would you do with that […]

Hot off of the press of the Financial Post Bank of Canada raises rates Paul Vieira, Financial Post * Wednesday, Sept. 8, 2010 OTTAWA — The Bank of Canada raised its benchmark interest rateWednesday by 25 basis points to 1%, arguing financial conditions remain“exceptionally stimulative” even in the face of a slowing — but stillgrowing […]

For Immediate Realease: Bank of Canada increases overnight rate target to 1 per cent 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 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global […]

Jeremy Torobin Ottawa — Globe and Mail Update Published on Wednesday, Aug. 18, 2010 12:40PM EDT Last updated on Wednesday, Aug. 18, 2010 6:50PM EDT Tougher rules for banks will bring economic benefits that dwarf the costs of forcing them to hold more capital, according to the latest salvos by central bankers and regulators in […]

Canada’s finance minister is proposing legislation that would make it easier for businesses to negotiate mortgages terms with lenders. Finance Minister Jim Flaherty wants to tweak the Interest Act to reflect companies in all shapes and sizes more favourably. Under the act, only corporations and joint stock companies can negotiate with lenders the penalty for […]

TORONTO, Aug. 18 /CNW/ – Continuing weakness in the U.S. economy may force the Bank of Canada to put interest rate hikes on hold after September, notes a new report from CIBC World Markets Inc. “North America’s story is again darkening,” says CIBC’s Chief Economist Avery Shenfeld in the latest Global Positioning Strategy report. “We […]

10 things to check before you buy a new home The process of buying a new home—especially if it’s your first time—is incredibly intimidating. And while there are certain things you may know you’re going to want to change upon moving in (like paint colors or retiling), if you’ve never gone through this before you […]