The housing market that led Canada out of recession is now so hot that Ottawa is talking about doing something to cool it off, a move economists say carries risks for the economy. Fuelled by record low interest rates, residential real estate prices have gained 20 per cent this year. And Finance Minister Jim Flaherty […]

http://www.cbc.ca/money/story/2009/12/21/flaherty-mortgages-.html#   http://www.cbc.ca/money/story/2009/12/21/flaherty-mortgages-.html#

Ottawa consders tighter mortgage rules Flaherty and Carney getting nervous Last Updated: Monday, December 21, 2009 | 10:17 PM ET Comments360Recommend111 CBC News Ottawa is considering new measures to tighten mortgage standards and prevent would-be homebuyers from taking on more debt than they can afford. Finance Minister Jim Flaherty said in an interview with CTV he’s […]

Canada Housing Resales Climbed to Record in November By Alexandre Deslongchamps Bloomereng Dec. 15 (Bloomberg) — Canadian home resales rose to a record 46,450 units in November, as the housing market helped to pull the economy out of recession, a realtor group said. Seasonally adjusted sales in November climbed 67 percent from a year earlier, […]

Positive economic growth likely in 2010 and 2011, says RBC Economics The Canadian Press  – After a challenging year, the economy is set for a recovery in 2010, according to a new forecast by RBC Economics. It says although the economy contracted at an average of 2.5 per cent this year, the stage is set […]

Bond yields and mortgage rates could head higher before the Bank of Canada’s pledge to hold interest rates steady expires in July, the chief economist at Bank of Nova Scotia said this week. “There’s a very good chance long-term rates will head up before then,” Warren Jestin said in Toronto at a briefing sponsored by […]

If so, pay attention to the new HST being implemented in the Summer of 2010.  This new tax has the potential to dramatically increase your overall purchase price. I’ve got detailed information available, which I’d be happy to send to you upon request; however for the purposes of this blog, I am just going to touch […]

Economic recovery is ‘solidly entrenched’: BoC Paul Vieira, Financial Post  OTTAWA — After months of uncertainty, the economic recovery now appears to be “solidly entrenched,” the Bank of Canada said Tuesday, indicating its forecast for growth should unfold as envisaged. Still, in its latest interest rate announcement, the central bank reiterated, as expected, its conditional […]

The Bank of Canada has reiterated its conditional commitment to keep that rate until mid 2010.  Please see below for the full report. One of our clients contacted us to help them with an a mortgage review this week and we saved them $1,300 dollars a month $ 15,600 a year and over the 5 years $78,000.00 in interest alone. This will […]

Bank of Canada to keep rates low, uphold outlook By Louise Egan OTTAWA (Reuters) – The Bank of Canada is widely expected to keep its hands off interest rates on Tuesday, holding them at near zero and committing to do so until at least July, despite growing evidence the economy is kicking back to life. […]