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 […]

Where to buy: Top 10 cities Jesse Kinos-Goodin, Financial Post · Sunday, Aug. 8, 2010 When investing in real estate, sometimes it’s necessary to look beyond your own backyard. The Real Estate Investment Network (REIN), a national organization of investors, has compiled what it says are the top 10 Canadian cities in which to invest. […]

According to a recent survey sponsored by mortgage insurer Genworth Financial Canada, homeowners are in the best shape when it comes to financial fitness in Canada. Sixty-five percent of homeowners pay off their credit card balances each month (versus 48% of non-homeowners). Furthermore, a quarter of those homeowners with mortgages have managed to make a […]

Selecting the mortgage term that is right for you can be a challenging proposition for even the savviest of homebuyers, as terms typically range from six months up to 10 years. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is […]

Globe and Mail Update Published on Wednesday, Jul. 28, 2010 4:44PM EDT Last updated on Wednesday, Jul. 28, 2010 4:51PM House prices still strongCanadian house prices rose 1.3 per cent in May from a month earlier, and now stand 4.2 per cent above their pre-recession peak, according to a Teranet-National Bank composite house price index. […]

METRO VANCOUVER – After decades of debate, Surrey has decided to permit homeowners to have one secondary suite in all single-family homes in the city, following an Ipsos Reid telephone poll in which 63 per cent of those surveyed supported the idea. The move, which received unanimous approval at city council Monday night, brings Surrey’s […]