As many economists expected, the Bank of Canada announced today that it is increasing the overnight rate .25 per cent, the fourth increase since last summer, given strong economic improvements. The economy and job market are performing well, housing is beginning to stabilize, oil prices have gone up, exports are strong and businesses are spending. The Bank also wants to keep inflation near target. The Bank “will continue to take a gradual approach” to further increases and is certainly...

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I wanted to take this opportunity, on behalf of my parents and myself, to drop you a note to thank you for all your help in our search for the perfect home. It wasn’t easy finding what we were looking for but you helped us make it happen. Thank you for your patience, care, and dedication to do a great job. You are, without a doubt, an excellent example of a professional in your field. Thanks again for everything.


05-Jun-18

Ziad J.

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The Bank of Canada announced today that it is holding the overnight rate steady, noting that the Canadian economy was stronger than expected in the first quarter, although housing has remained soft as it adjusts to new mortgage rules and higher rates. However, labour income growth is solid, which supports “the expectation that housing activity will pick up and consumption will continue to contribute importantly to growth in 2018.” The Bank did hint that we could see potential future...
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For most people, a home is the most expensive purchase they'll make in their lifetime. It's a serious transaction with significant financial and emotional ramifications for the parties involved, and having proper representation is critical. Yet, many people are unclear on what I am going to do for you ... and if it’s necessary?


What do I do?


Take on fiduciary responsibility


When you work with a Realtor®, their fiduciary responsibility is to you. That means you have an expert who is looking...

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My Wife and I are grateful for your kind assistance. We could not have asked for more. You were pleasing to deal with. We knew even from the start that we were in good hands! Thank you for your assistance, your market knowledge and quick response to our concerns.


14-May-18

Keith and Gwen

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Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.

 

The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.

 

The next rate-setting day is October 22nd.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.