Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010 OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is […]

Post Date: Tuesday, October 13, 2009 Most economists say recession is over and recovery is beginning By Mae AndersonNEW YORK — More than 80 per cent of economists believe the recession is over and an expansion has begun, but they expect the recovery will be slow as worries over unemployment and high federal debt persist.That […]

Post Date: Wednesday, August 12, 2009 The BC Harmonized Sales Tax in a Nutshell– A Quick Overview of the B.C. HST 12% Tax and How It Influences New Home Buyers of Real Estate1.The Harmonized Sales Tax (also known as the new BC HST) is 12% tax applicable to most goods and services, including new homes, […]

Post Date: Thursday, July 9, 2009 New Immigrants Driving Housing Demand,according to Scotia EconomicsTORONTO, July 9 /CNW/ – Canadian immigrants are narrowing the homeownership gap with their Canadian-born counterparts, according to the latest Real Estate Trends report released today by Scotia Economics. The most recent census data available show that in 2006, almost 72 per […]

Post Date: Wednesday, July 8, 2009 Improved affordability helps spur Canadian housing market, says RBC EconomicsEvery major city in Canada enjoying a housing market resurgence TORONTO, July 8 /CNW/ – Home affordability in Canada recorded some of the biggest quarterly improvements on record in the first quarter of the year, with aggressive economic policy and […]

Post Date: Monday, June 29, 2009 OTTAWA–A new poll suggests more than one in three Canadians plan to take advantage of the federal government’s home-renovation tax credit.More than eight in 10 questioned in the Harris-Decima/Canadian Press survey said they were aware of the program, under which eligible applicants can receive a tax rebate of as […]

Post Date: Friday, June 19, 2009 Recently a reader of my blog asked me to comment further on the relationship between interest rates and inflation, and the performance of the market. With respect to the first part on how interest rates and inflation are related you need to understand that there are economic laws at […]

Post Date: Monday, June 15, 2009 Don’t handcuff your mortgageGary Marr, Financial Post Published: Saturday, June 13, 2009Would you like to pay an extra $300 per month on your mortgage? Not likely.That hasn’t stopped a number of Canadians, with the deal of a lifetime on a variable-rate mortgage, from switching over to a more expensive […]