Canada’s housing market continued to sustain upward momentum in September 2013. In its monthly statistical release, the Canadian Real Estate Association (CREA) today indicated that home resales in Canada advanced by 0.8% between August and September, thereby extending the current upswing in activity to seven months. Relative to September 2012, resales were up strongly by 18.2%, although this largely reflected significant weakness in the year ago level of sales – compared with the 10-year...

Since September 2010 the Bank of Canada has held the key rate steady. And today was no different. The Bank of Canada is staying the course and not changing the benchmark rate.

Today's announcement noted that "downside risks to inflation assume increasing importance" and "the Bank must also take into consideration the risk of exacerbating already-elevated household imbalances." With these considerations, the Bank is maintaining its substantial monetary policy stimulus.

If you’ve...

A few hours spent on fall maintenance will protect the investment you’ve made, and make for a more comfortable and worry-free winter ahead. Get started with a fall “to-do” list:

• Ensure windows and doors (especially the one between house & garage) close tightly; repair or replace weather stripping if needed.
• Check your roof for loose or missing shingles.
• Ensure your eavestroughs and downspouts are clear.
• Check your chimney for nests, other obstructions, or buildup of residues....

The Bank of Canada is staying the course and holding the key rate steady.

The Bank once again stated today that there will be no change to its interest rate policy “as long as there is significant slack in the Canadian economy, the inflation outlook remains muted, and imbalances in the household sector continue to evolve constructively.” Great news for variable rate holders! The prime rate for most lenders should stay at the historically low 3%., exactly where it’s been since...

A key tax credit is still available!

If you’re buying your first home, take advantage of the Home Buyers Tax Credit (HBTC). The credit is designed to assist first-time home buyers with the extra costs associated with buying a home, like legal fees, disbursements and land transfer taxes. The $5,000 non-refundable HBTC amount provides up to $750 in federal tax relief. You qualify if neither you nor your spouse (or common-law partner) have owned and lived in another home for the past five years*....