The Bank of Canada as suspected has raised its overnight rate by 25 basis points to .75 and the banks will most likley follow by raising prime to 2.75% This means if you have a 400,000.00 mortgage your payment will increase by as much $60/monthly With every 25 basis point increase you can expect $12-$15 dollars per 100,000.00 in mortgage […]

Kim Covert, Financial Post · Friday, Jul. 16, 2010 Read more: http://www.financialpost.com/news/Week+Ahead+Rate+hike+cards/3288001/story.html#ixzz0u7teJzQu OTTAWA — Two major announcements bookending the coming week’s economic news will provide a clearer snapshot of the state of the Canadian recovery. The Bank of Canada will be first up when it makes its monthly interest rate announcement on Tuesday. But that […]

  By Julian Beltrame OTTAWA — Canadian firms are giving the recovery a vote of confidence in a key quarterly survey, paving the way for the Bank of Canada’s expected interest rate hike next week. The central bank’s quarterly survey, released Monday, showed firms were concerned about the fallout from the European sovereign debt mess, […]

Canadian economy adds 93,200 jobs in June; loonie jumps after employment report By Julian Beltrame, The Canadian Press OTTAWA – Canada enjoyed another big month for employment in June, churning out a whopping 93,200 new jobs — almost all in Ontario and Quebec and all in the services sector. The strong performance brings the jobless […]

Rental suite can help you pay off that mortgage but ‘it could be a nightmare’ Malcolm Morrison, The Canadian Press TORONTO – Buying a house with a rental suite can be just the ticket to help you pay off your mortgage years earlier than it might have otherwise been possible. But landlord beware: there are […]

Eric Lam, Financial Post · Friday, Jul. 2, 2010 With Canada’s economy stumbling in April, adding fuel to speculation the country’s roaring recovery that began in September 2009 was coming to an abrupt end, economists warned Canada’s central bank will have to tread carefully on its plan to raise interest rates for the rest of […]

Helen Morris, National Post · Saturday, Jun. 26, 2010 There is a lot to consider when deciding whether to go for a fixed or variable rate mortgage — not least, your tolerance of risk and your ability to sleep at night. Generally, fixed rate mortgages charge a higher rate and cost more, but payments are […]

By ROBERT KOOPMANSDaily News Staff Reporter When it comes to the HST and real estate, consumer uncertainty reigns supreme. But the much-despised tax will likely not impact the real estate market much, despite the widely held perception on the part of consumers that the HST is pure evil. During a market analysis session at the […]

Country seen as model of sound banking regulation, money management at G8, G20   By Jacques Lemieux, Agence France-presse June 21, 2010     Unscathed by the global economic snarls of recent years, and as host of G8 and G20 summits later this month, Canada is presenting itself as a model of sound fiscal management […]

CTV.ca News Staff Canada’s annual inflation rate dropped to 1.4 per cent in May from 1.8 per cent in April, mainly due to a moderation in gas prices and the falling price of clothing. The latest Statistics Canada inflation report released Tuesday also shows core inflation fell to 1.8 per cent from 1.9 per cent […]