How the market will fix MLS rules Comment Eamon Hoey, Financial Post  The Commissioner of Competition recently made an application to the Competition Tribunal claiming that the Canadian Real Estate Association (CREA) uses control of the Multiple Listing Service (MLS) to impose exclusionary restrictions on the use of MLS.   The commissioner claims CREA rules […]

Canadian economy grows faster than expected in January OTTAWA – The stalwart Canadian economy marched doggedly forward in January, growing faster than anticipated thanks to a healthy boost from a manufacturing sector that appeared to be in full rebound from the recession. The month’s 0.6 per cent rise in real gross domestic product, reported today […]

Banks start interest rate shake-up | Tuesday, 30 March 2010 Four big banks have increased their posted rates on fixed mortgages, signaling the start of an upward move on record-low interest rates. Royal Bank, TD Canada Trust and Laurentian all moved their posted rates on five-year fixed mortgages by 0.6 per cent yesterday, a move […]

Higher interest rates could be coming sooner, says Bank of Canada governor By Julian Beltrame, The Canadian Press OTTAWA – Canadians could be facing higher interest rates sooner than previously thought as a result of stubborn inflation and stronger economic growth, Bank of Canada Mark Carney said Wednesday. Carney did not declare higher rates were […]

Housing market to be tamer over next decade: Scotiabank | Wednesday, 24 March 2010 Despite 2010’s strong start, Scotiabank expects the “twenty-tens” Canadian housing market to pale in comparison to the previous decade.   A report titled “Global Real Estate Trends”, released by the bank yesterday, speculated the volume of home sales transactions will increase by 10 per […]

Cost of owning a home up slightly in late 2009; will continue to rise: RBC Sunny Freeman , The Canadian Press TORONTO – Home prices will continue to rise this spring as buyers scramble to close deals ahead of expected higher interest rates, new mortgage rules and new taxes in two key markets. A report […]

The Flaherty effect Helen Morris, National Post  Many of us have been enjoying supremely attractive interest rates on mortgages. However, with rates having been at historic lows for quite some time and with the economy heating up, the only direction rates will go from here is up. The finance minister wants to ensure borrowers are […]

75 years on, Bank gets it right on inflation William Watson, Financial Post  Seventy-five years ago Thursday the newly constituted Bank of Canada took over responsibility for Canada’s currency. It was supposed to have done so 10 days earlier but British American Bank Note Co. was late with its initial delivery of cash. Since 1935, […]

Regular reviews of your mortgage ensure your loan is still right for your financial situation by Malcolm Morrison, THE CANADIAN PRESSTORONTO – Buying a home is probably the most expensive purchase you will ever make and if you’re like the vast majority of Canadians, you used a lot of borrowed money to experience the joys […]

Budget 2010: A second year of stimulus spending Paul Vieira, Financial Post  OTTAWA — The Conservative government sketched out on Thursday its initial plans to return to budget balance, by targeting cuts in the public service, a freeze on foreign aid, limited growth in military spending and higher EI premiums. The spending restraint, outlined in […]