Share BMO Bank of Montreal announced that effective April 7th, its five year low rate fixed closed mortgage will be increasing to 3.95% from 3.75%. This new rate remains at the lowest in the marketplace, and the gap between BMO’s rate compared to the competition has widened following the recent round of rate increases. This [...]
Share Bank of Canada Governor Mark Carney has put Canadians on notice that today’s low borrowing costs are likely to increase by midsummer, if not sooner. Almost a year ago, Carney decided to combat the recession by taking the unusual step of promising to keep the bank’s overnight rate are the record low of 0.25% [...]
Share Changes to the Canadian Real Estate Association’s (CREA) Pillar’s and Interpretations are being brought forward to the annual general meeting on March 22nd, 2010. The current three pillars of the Multiple Listing Service (MLS) System are as follows: 1. Membership – only realtors can place a listing on the MLS system 2. Agency – [...]
Share Canada’s core inflation rate rose beyond the Bank of Canada’s expectations to 2.1% from 2%, however the central bank is unlikely to move up its target date for raising interest rates, noted a top economist. As we have heard from the Bank of Canada, higher inflation could bring about the Bank to raise the [...]
Share Canadian existing homes sales were down by 1.5% in February, despite prices continuing to increase, according to figures released by the Canadian Real Estate Association (CREA). Sales of homes nationally were a seasonally adjusted 42,799 edging down from January, according to CREA. Despite having sales up in Ontario by 3.3%, they were significantly down [...]
