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Hope you're enjoying these last few weeks of summer!

 

The big news this week is that mortgage rates have risen significantly in the last month. It's pretty hard to believe that a five year fixed rate mortgage could be had for 2.89% only a short time ago. While this news isn't very positive, it is to be expected. Canadians have been warned about rising interest rates for some time now.

 

The latest rate increase combined with a reduced maximum amortization of 25 years and the implementation...

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The Bank of Canada is holding its key rate in Stephen Poloz’s first policy decision since he replaced Mark Carney as Bank Governor. The benchmark rate has not changed since September 2010.

 

Today’s announcement noted that there will be a continuation of steady rates “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.”

 

The prime rate for most...

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Good day and happy summer to you. 2013 is already half over and the Real Estate market continues to be very active.

 

For your interest and as a resource please take a moment to review the June 2013 and 2nd quarter 2013 Real Estate activity statistics as provided by the Realtor Association of Edmonton with the link below.

 

http://www.ereb.com/News&Events/LatestMarketStatistics.html

 

It would be my pleasure to discuss these trends and anything else Real Estate with you any time....

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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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