The dawn of the new mortgage rules is upon us. Just as the dawn of a new day reveals the storm clouds that we will face, so do the months of January and February reveal to us how the year will shape up for real estate in 2017. The last set of changes put in…
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 percent. The Bank Rate is correspondingly 3/4 percent and the deposit rate is 1/4 percent. Economic data suggest that global economic conditions have strengthened, as the Bank anticipated in its October Monetary Policy Report (MPR). However, uncertainty,…
On the heels of the new mortgage policy changes and a recent announcement by the Bank of Canada to keep the key overnight rate at .50%. The TD bank will increase its spread over the overnight rate by raising the prime rate to 2.85% This means that TD is now at 2.35% above the Overnight rate that…
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 percent. The Bank Rate is correspondingly 3/4 percent and the deposit rate is 1/4 percent. The global economy is progressing largely as the Bank anticipated in its January Monetary Policy Report (MPR). Financial market volatility, reflecting heightened…
It will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. However, we once again are seeing banks attempting to put money in their pockets by not following through with a full prime rate reduction. The…
The central bank says economy performing in line with expectations laid out in January By Pete Evans, CBC News Posted: Mar 04, 2015 10:09 AM ET Last Updated: Mar 04, 2015 4:57 PM ET The Bank of Canada kept its benchmark interest rate steady at 0.75 percent on Wednesday, a sign the bank thinks there’s no need for another…
Radio Questions April 5, 2014 1 I had to pay the welcome tax when I bought out my ex. Was it because it was a duplex? Normally when you buy out a spouse or a property is transferred from a parent to a child then you do not have any welcome tax to…
Hey everyone, hope you are all eager for an early spring. I don’t mind winter but this year I’m looking forward to a nice spring and with spring in the air many of you may be thinking about selling and perhaps upgrading to a larger home. Selling and buying are not too tricky but here…
This past weekend I was reorganizing my chaotic office and came across an old issue of Mike Holmes’ magazine. In it, there was an interesting article about first-time buyers called “The first time home buyer’s guide” published in the May 2011 edition. In the article, Nathalie Rodriquez outlines a step-by-step process to buying your first…