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The Bank of Canada is keeping the key policy rate unchanged in the last rate announcement under outgoing Governor Mark Carney. The Bank said that Canadian “growth in the first quarter was stronger than the Bank projected” and that looking ahead "consumer spending is expected to grow at a moderate pace, business investment to grow solidly,” and inflation to remain subdued. The Bank also noted that “growth in total household credit is slowing.”

As we’ve seen in previous...

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Another month has now passed and we enter the optimism of the spring season as well as the 2nd quarter of 2013. This is often the time that you or someone you know will consider buying, selling or investing in residential Real Estate.

 

Please use the link review both the March 2013 and the 1st quarter Real Estate activity statistics for the Edmonton and area market as provided by the Realtor Association of Edmonton.

 

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

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With a lower growth forecast, the Bank of Canada is once again keeping its key policy rate unchanged, noting that our historic low rates "will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required." With a weaker second half of 2012, the bank projects that growth in Canada will regain some momentum through 2013, with the economy "reaching full capacity in mid 2015 – later than anticipated."

 

The prime rate for most lenders should stay...

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Low Cost Preparations for Selling Your House


So, you are thinking of putting your home on the market, but you aren't sure how to make the best impression using the smallest budget. If you do nothing else, clean, clean, clean! Prospective buyers are shopping for a NEW home. Your home may be 20 years old, but if it is to be the new home of another family, you have to show it in move-in condition. This does not mean that you must do major renovations. It's the little things that count!

 

1. Clean...

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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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