There seems to be good news coming out of the States for our fellow REALTORS.
Although in a few recent interviews with Federal Chairman Bernanke it was revealed that the economy would probably start to slowly recover in 2010, NAR has reported a projected sales volume of 4.68 million transactions for 2009.
So what does that mean? Well, that's only slightly down from 2008 (which had a volume of 4.9 ...
Posted by Constantine Isslamow
on July 8, 2009
Bank of Canada Interest Rate
April 21, 2009
0.25%*
June 4, 2009
0.25%
July 21, 2009
Next meeting date
Source: Bank of Canada
* Bank of Canada indicated it would keep interest rate at this level until June 2010
Bank Prime Lending Rate
April 22, 2009
2.25% ...
Posted by Constantine Isslamow
on July 2, 2009
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