News & Events

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News

How to lower your property taxes

 (Date Posted: September 3, 2010)
Einstein’s general theory of relativity. Lady Gaga’s popularity. Your home’s assessed value. Some things just seem utterly incomprehensible. But solving the property tax assessment mystery is worthwhile: appealing an incorrect valuation could save you thousands of dollars
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10 easy ways to build a credit history

 (Date Posted: September 2, 2010)
Everyone needs to have the ability to borrow money. That’s true whether you’ve just found yourself in the new role of single parent without an emergency fund or you’re a young adult starting out.
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No housing bust here

 (Date Posted: September 1, 2010)


Canada is unlikely to see a “massive wave of defaults” in the housing market as the market cools, the CD Howe Institute wrote in a report Wednesday.


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Making sense of real estate lingo

 (Date Posted: September 1, 2010)


Buying your first home, new or older, can be exciting, but also intimidating and confusing. A real estate transaction is complex and there are many terms you'll hear that may seem like a whole new language.


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Variable rate may no longer win

 (Date Posted: August 31, 2010)
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again. The Bank of Canada’s second quarter-of-a-point rate increase in the past two months is likely not going to do much to boost a real estate market that saw sales drop almost 20% across the country in June from a year ago.
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Housing prices in hottest Cdn. markets a concern

 (Date Posted: August 31, 2010)
Steep housing price increases in six of Canada’s hottest real estate markets since 2002 have all the hallmarks of an “accident waiting to happen” if mortgage rates rise too sharply, warns a new report.
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Clipboard Kings

 (Date Posted: August 30, 2010)
It is easy to fall in love with a house or condo the first time you view it, but having a detailed home inspection should give you some idea of what really lurks beneath the surface beauty of that dream home.
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North American & International Economic Highlights

 (Date Posted: August 30, 2010)
The probability of a double dip in the US appears to be the main focus these days. And you cannot blame the market for getting a bit nervous given the latest array of disappointing numbers coming from the US economy.
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Canadian home prices continue to rise

 (Date Posted: August 26, 2010)
Canadian home prices are still on the rise even as sales fall as demand peters out, one factor that is making homes less and less affordable, according to a study by the Conference Board of Canada. Home sales have fallen by 25 per cent since reaching a peak at the beginning of the year as fewer buyers compete and more houses come onto the market. That hasn't stopped houses from becoming more expensive, a trend that is likely to continue, said conference board associate director Michael Burt.
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U.S. needs to reset mortgage mess

 (Date Posted: August 23, 2010)
Washington faces a mortgage market conundrum. A conference today hosted by the U.S. Treasury is supposed, finally, to start addressing what to do with Fannie Mae and Freddie Mac. But the bunch of fixes proposed by regulators and lawmakers in attempts to make private home loans safer is causing other problems.
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BoC butts heads with bond market

 (Date Posted: August 19, 2010)


OTTAWA -- The Bank of Canada may have signaled its intent last month to gradually hike interest rates but bond markets have other thoughts.


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Canadian home sales sink 30% in July

 (Date Posted: August 18, 2010)


The housing market stalled in July as sales sank 30 per cent from the same month a year earlier, the Canadian Real Estate Association said Monday.


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Why banks aren't paying higher interest rates

 (Date Posted: August 12, 2010)
So far in 2010, Canadians have opened 20 per cent more chequing and savings accounts than last year at this time. That amounts to about $100 billion in new deposits and Canada’s major banks have been fighting for a share of it with incentives, including cash rewards for customers opening new accounts.
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New-house prices rise slightly in June

 (Date Posted: August 11, 2010)


The New Housing Price Index rose 0.1 per cent in June following a 0.3 per cent increase in May.


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Housing market keeps cooling

 (Date Posted: August 11, 2010)


The slowdown in the Canadian resale housing market was "dramatic" last month, but the sector got a boost yesterday from statistics that show new-home construction is not falling as fast as anticipated.


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Loonie's rise 'makes sense,' Flaherty says

 (Date Posted: August 10, 2010)
The rise in Canada’s currency “makes sense” because investors are snapping up the country’s assets and the economy is growing nicely, Canadian Finance Minister Jim Flaherty said on Thursday.
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5 expenses that will consume 50% of your Earnings

 (Date Posted: August 10, 2010)
In these recessionary times, financial tips are flowing fast and furious about how to save money and stick to a budget. Facing a sea of information, many people are asking, “Where do I start?” For most of us, five areas of spending will consume over 50% of the money we earn during our lifetime, so that’s the best place to begin
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Housing starts fall in July

 (Date Posted: August 10, 2010)


The annual rate of housing starts in Canada fell 1.6% in July to a seasonally adjusted 189,200 units from an upwardly revised 192,300 units in June, Canada Mortgage and Housing Corp. said Tuesday.


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Bumps ahead for deficit cutting: TD

 (Date Posted: August 4, 2010)
The federal and provincial governments are off to a flying start in their deficit-cutting plans, but they will run into difficulty as economic growth slows, the population ages and interest rates rise, economists at Toronto-Dominion Bank warned Tuesday.
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CREA cuts home sales forecast

 (Date Posted: July 30, 2010)


OTTAWA -- Canadian home sales will decline 1.2% this year, not increase as previously forecast, an industry group said on Friday, but average prices should increase more than it forecast earlier.


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Canadian banks leap at U.S. rivals’ weakness

 (Date Posted: July 29, 2010)
Canadian banks that covet a bigger slice of the U.S. market have identified a small window of opportunity to potentially steal corporate business from troubled American banks. Now some are pulling out all the stops – using top bank brass to wine and dine the heads of small U.S. companies and flying in analysts from Canada to provide market insight – in an attempt to convince those businesses to change bankers.
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House prices 4.2% over peak:How cities are fairing

 (Date Posted: July 29, 2010)
Canadian house prices rose 1.3 per cent in May from a month earlier, and now stand 4.2 per cent above their pre-recession peak, according to a Teranet-National Bank composite house price index. It marked the 13th straight month of increases and the second that prices rose in each of the six regions it covers. National Bank economist Marc Pinsonneault contrasted that to the real estate market in the United States, where prices are down almost 30 per cent from their peak. In Canada, year over year, the index is up 13.6 per cent. The index differs from the measure used by the Canadian Real Estate Association.
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Retirement not an option for many

 (Date Posted: July 28, 2010)


We've heard a lot in recent years about the rising percentage of Canadians who keep working after the formerly sacrosanct retirement age of 65, and much of it has been positive.


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Variable rate may no longer win

 (Date Posted: July 28, 2010)
Not that there are a lot of people buying houses these days, but the answer to the age-old question of whether to go long or short on your mortgage is unclear yet again.
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Summer home maintenance

 (Date Posted: July 27, 2010)


Your home is one of your biggest investments. The best way to protect that investment is to conduct regular inspections and keep your home maintenance up-to-date.


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Pay off your debt, don't just pay it down

 (Date Posted: July 26, 2010)


Do you remember when people bought only what they could afford? My father used to say, “most debts are fun when you are acquiring them, but none are fun when you set about retiring them.” One of the biggest challenges Canadians face is trying to balance paying down debt while saving for the future. Deciding when it makes sense to do either is about considering the effects of compound interest — when it is working for you and when it is working against you.


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10 worst first-time homebuyer mistakes

 (Date Posted: July 23, 2010)


Are you gearing up to buy your first place? Shopping for a home is exciting, exhausting and a little bit scary. In the end, your aim is to end up with a home you love at a price you can afford. Sounds simple enough, right? Unfortunately, many people make mistakes that prevent them from achieving this simple dream. Arm yourself with these tips to get the most out of your purchase and avoid making 10 of the most costly mistakes that could put a hold on that sold sign.


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Canadians back away from borrowing

 (Date Posted: July 23, 2010)
Many months ago, it was fashionable to question how Canada’s profligate borrowers would hold up when interest rates began to rise. Today, after the Bank of Canada raised its trendsetting overnight rate for the second time in the past two months, we’re starting to see the answer.
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Bank of Canada increases overnight rate target

 (Date Posted: July 20, 2010)
The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.
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What to expect from Bank of Canada

 (Date Posted: July 20, 2010)
Bank of Canada governor Mark Carney returns to the spotlight this week as he unveils the central bank’s latest interest-rate decision -- another increase is expected -- and economic outlook. He’ll also appear before Ottawa journalists Thursday to offer his view in his own words on the outlook on the economy, and whether it is headed for a dreaded double-dip as some have feared. Here’s a rundown of the key things to watch for this week from the Bank of Canada.
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Keep the condo, pay down the mortgage

 (Date Posted: July 19, 2010)


At 57, single, and with no company pension and $185,000 in savings, Etta knows she has to do some careful planning.


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How to pick a home renovator

 (Date Posted: July 19, 2010)


If you’ve been dreaming of adding an extra room to your house or repaving your driveway this fall, now’s the time to book contractors – just make sure you do your homework first.


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Housing data, bank rate hike

 (Date Posted: July 19, 2010)


There will be a lot of activity this week that could jolt investors out of their deep summer slumber. While it’s normally safe to take to the holiday hills in July without missing much market action, save for a round of quarterly earnings, the next five days are loaded with potentially disruptive events.

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Week Ahead: Rate hike in the cards

 (Date Posted: July 19, 2010)
Two major announcements bookending the coming week’s economic news will provide a clearer snapshot of the state of the Canadian recovery. The Bank of Canada will be first up when it makes its monthly interest rate announcement on Tuesday. But that will come before Friday’s critical report from Statistics Canada on the country’s consumer price index for June.
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Canadians score better than Americans on credit

 (Date Posted: July 15, 2010)


The number of Americans with bad credit continues to rise. Is there any reason to believe Canadian credit is better? New statistics from U.S. credit agency FICO show about 25% of American consumers now have a credit score below 600 -- anyone below this is considered a high-risk borrower. Credit score determines whether a consumer gets credit and at what rate.


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Home sales continue to drop

 (Date Posted: July 15, 2010)


Existing home sales continued their rapid decline last month with 70% of markets showing a drop in sales in June from May, according to the Canadian Real Estate Association.


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Upbeat survey may pave way for interest rate hike

 (Date Posted: July 14, 2010)
Canadian firms are giving the recovery a vote of confidence in a key quarterly survey, paving the way for the Bank of Canada’s expected interest rate hike next week. The central bank’s quarterly survey, released Monday, showed firms were concerned about the fallout from the European sovereign debt mess, but still generally upbeat about the coming year. “Overall, (business executives) are positive about the outlook for business activity over the next 12 months,” the bank wrote
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Recession-battered Canadians growing conservative

 (Date Posted: July 14, 2010)
Recession-battered Canadians are growing more conservative with their money and turning away from high risk investments to the safety of savings accounts — a trend that banks are cashing in on, industry insiders say. Canadians this year have opened about 20 per cent more chequing and savings accounts than last — a giant leap from the average three to five per cent annual increase, said financial services consultant David McVay.
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June drop in housing starts

 (Date Posted: July 13, 2010)


Housing starts fell in June to 189,300 units, down 3.1% from May Canada Mortgage and Housing Corp. reported yesterday.


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High marks for Canada's real estate market

 (Date Posted: July 13, 2010)


Canada may no longer be the most transparent housing market in the world, but it's close, according to a biannual survey of 81 countries.


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The new face of debt

 (Date Posted: July 9, 2010)


For James Kennedy, a federal civil servant before he retired, and his wife Jane, who retired from the Calgary civil service, the golden years have become a series of tough compromises. Both 59, they live in Qualicum Beach, B.C., a five-minute walk from the Strait of Georgia on Vancouver Island. They enjoy the mild weather, long walks on the beach and their beautiful home.


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Canadian economy adds 93,200 jobs in June......

 (Date Posted: July 9, 2010)
Canada enjoyed another big month for employment in June, churning out a whopping 93,200 new jobs — almost all in Ontario and Quebec and all in the services sector. The strong performance brings the jobless rate to 7.9 per cent, the first time it has been under eight percent since the depths of the recession in January 2009.
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Canada new housing prices rise

 (Date Posted: July 8, 2010)


OTTAWA -- New home prices in Canada rose 0.3 percent in May for the third straight month, as expected, resulting in a 2.9 percent price gain in the year, Statistics Canada said on Thursday.


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Drop in home sales may be sign of peak

 (Date Posted: July 8, 2010)
Existing home sales dropped sharply in Canada’s two most expensive markets, a further indication that the real estate market may have peaked.
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Loonie could fall to US87¢, top forecaster predict

 (Date Posted: July 7, 2010)


Shaun Osborne, chief foreign exchange strategist at TD Securities and the world's top currency forecaster, according to Bloomberg News, said yesterday the loonie could slide to US87¢ by the end of the third quarter while the euro was headed for parity with the greenback by the end of 2011.


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House prices and sales to decline

 (Date Posted: July 7, 2010)


House prices continued to climb higher across Canada in the second quarter of 2010, but sales and prices are expected to fall in the coming months, according to a Royal LePage House Price Survey and Market Forecast released Wednesday.


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Building permits fall in May

 (Date Posted: July 6, 2010)


The number of building permits issued by Canadian municipalities fell by 10.8 per cent in May to $6-billion, after two straight months of gains. Analysts had expected a 2-per-cent drop, but Statistics Canada said sharp declines in both residential and non-residential building pulled the numbers lower.


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First�]time homebuyers want new, detached homes

 (Date Posted: July 6, 2010)
A majority of Canadians who just bought or are about to buy their first home expect to pay less than the asking price and prefer newer and detached homes over older and semi-detached homes or condos, according to a Bank survey.
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