The Bank carries out monetary policy by influencing short-term interest rates. It does this by raising and lowering the target for the overnight rate.
The overnight rate is the interest rate at which major financial institutions borrow and lend one-day (or "overnight") funds among themselves; the Bank sets a target level for that rate. This target for the overnight rate is often referred to as the ...
Posted by Constantine Isslamow
on June 30, 2009
Mortgage rates are expected to remain within 25 to 75 basis points of their current level for the remainder of 2009 according to CMHC's second quarter Housing Market Outlook, keeping them very low in a historical context. Rates are expected to remain steady this year and edge higher in 2010.
I hope you find this information useful. Thanks for stopping by.
Constantine Isslamow
Broker/Manager...
Posted by Constantine Isslamow
on June 27, 2009
The Canadian Real Estate Association (CREA) reported an 11.2 per cent increase in existing home sales from March to April, making the third monthly rise in sales in a row.
With the recent release of sales numbers, the CREA revised its previous forecast for the housing market, saying sales will come in at 370,500 for 2009 instead of 360,900.
I continue to see more activity in the lower end ...
Posted by Constantine Isslamow
on June 27, 2009
The U.S. Federal Reserve says the recession is easing, but economic weakness will keep lid on inflation; key bank lending rates unchanged at zero to 0.25 per cent.
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Constantine Isslamow
Broker/Manager
Posted by Constantine Isslamow
on June 24, 2009
With the summer selling season now here, what can sellers do to maximize the chances of selling their home in a challenging market?
Hiring a qualified real estate agent and setting the right listing price are the first steps to selling your home quickly. But there are other things you can do to help differentiate your home from the competition and attract potential buyers.
Curb appeal. You don't ...
Posted by Constantine Isslamow
on June 18, 2009
Survey results show that during the past twelve months about one-quarter of all mortgage transactions were arranged through the mortgage broker channel. Most notably, broker share among first-time buyers has increased to 44%, up from 35% in 2007. Among other market segments broker share has remained stable. In particular, broker share among those renewing their mortgage continues be relatively stable ...
Posted by Constantine Isslamow
on June 18, 2009
Canada's annual inflation rate dipped to 0.1 per cent in May from 0.4 per cent in April, according to Statistics Canada.
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Constantine Isslamow
Broker/Manager
Posted by Constantine Isslamow
on June 18, 2009
FOR IMMEDIATE RELEASE: ...
Posted by Constantine Isslamow
on June 16, 2009
FOR IMMEDIATE RELEASE: ...
Posted by Constantine Isslamow
on June 16, 2009
The chart below shows the average interest rate for the month of June each year since 1951.
The average of all these rates is 9.08% up to 2008. (shown in last column) 2009 is not included in the chart
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Constantine Isslamow
Broker/Manager
Source: First National
Posted by Constantine Isslamow
on June 16, 2009