A new report predicts that Canada’s housing market is poised for a collapse and is only waiting for the trigger of rising interest rates expected for later this year — a view that flies in the face of many other forecasts. Capital Economics calculates Canadian home prices could fall by about 25 per cent — [...]
What is the right choice for you? It can be confusing especially in an environment where fixed rates are still at a record all time low and Prime Rates are on the rise. The media creates a frenzy with every movement in Prime, we know it’s going to increase, and we know the Government has to [...]
By Sunny Freeman, The Canadian Press TORONTO – Home sales may be slowing, but prices in six of Canada’s largest housing markets are in bubble territory for the first time in 30 years — and a U.S.-style correction is still not out of the question, according to a report from an Ottawa-based think tank. The [...]
The Bank of Canada acknowledged Canada’s economic recovery by raising its trend-setting interest rate to 0.75 per cent, but warned of a weak global economic picture. While saying that consumer and government spending continue to drive the Canadian recovery, Bank Governor Mark Carney admitted that the rebound from the recession will unfold more slowly than [...]
The Bank of Canada left the overnight rate at 0.25% Tuesday morning and opened the door to rate increase at the June meeting by removing its conditional commitment to keep the policy rate at its current level, “until the end of the second quarter of 2010.” The Bank stated that with, “recent improvements in the [...]
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