private real estate: Interest Rate Lowered to 1.50% - 12/09/08 02:05 PM
The Bank of Canada on Tuesday cut its key lending rate by 75 basis points to 1.50%, more than many economists had expected.  This is the lowest since 1958.
Lower interest rates, if passed on by the commercial banks, encourage businesses and households to borrow and spend for expansion and consumer goods, thereby stimulating economic activity.
The interest rate cut today by the Bank of Canada was this biggest cut since October 2001.
The record low for Canada's key rate was 1.12 percent in 1958, a time when it was based on treasury yields rather than actions by policy makers.

private real estate: Canadian Gov't may increase Bank Mortgage Purchases to $75 Billion - 11/12/08 05:46 PM
Finance Minister Jim Flaherty pledged today to triple the amount of mortgages the government can buy from banks to as much as C$75 billion.
The Canadian Gov't, using its crown corporation, the Canadian Mortgage and Housing Corp. (CMHC), purchased $25 billion in mortgages last month.
Allow me to explain in simply terms what the government is in fact doing...
The gov't via CMHC has insured many mortgages for the banks. In other words, CMHC has sold the banks default insurance on mortgages that the banks have provided to their clients, which guarantees that CMHC will cover any shortfall realized by … (1 comments)

private real estate: Bank of Canada expected to Lower Interest Rates - 11/12/08 05:43 PM
Bank of Canada has hinted that they may cut interest rates again.
Early today in Toronto, Bank of Canada Senior Deputy Governor Paul Jenkins stated, "Some further monetary stimulus will likely be required to achieve our 2 percent inflation target over the medium term."
The Cdn Central Bank cut its benchmark overnight lending rate to 2.25 percent on Oct. 21.
Some economists expect that the Bank of Canada will cut their overnight rate a half point to 1.75 percent on Dec. 9. This would be the lowest since 1960.

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private real estate: Private Sale Success! - 10/26/08 09:39 PM
Staging Your Home For a Successful Sale!
You’ve likely seen the magic of home staging on TV’s real-estate makeover shows. Now you can steal these 10 tips and tricks from the pros to fluff up your own home’s appeal.
Home staging has hit prime time. You may marvel at what can be done in a 30-minute TV episode by a team of trained professionals, yet the reality is that you can achieve many of the same effects yourself. Your DIY efforts can impress agents and homebuyers and result in a faster sale for more money.
Before you get started, stop … (1 comments)

private real estate: Bank of Canada cuts rates by 0.25 percent - 10/24/08 11:45 PM
The Canadian Central Bank cut rates today by a quarter point to 2.25%.
This rate cut today by the Bank of Canada was left than the half point cut expected by some economists.  The reaction to this was also seen by the Canadian Dollar... falling to a three-year low following today's announcement.
It will be interesting to see how various Canadian financial institutions react today to the news... in terms of their prime rates and mortgage rates.
The Central Bank commented however that it would likely have to lower rates further to combat the effects of the global financial crisis.  "In line … (1 comments)

private real estate: Canadian Dollar vs US Dollar and The Price of Oil - 10/24/08 11:43 PM
Many people were wondering last week why the Canadian Dollar started to lose value against the US Dollar, when it appears that the USA was in greater crisis mode in comparison to Canada.
Well here is why....
Canada is one of the world's largest producers of oil and holds oil reserves second only to Saudi Arabia, which makes Canada very reliant on its most prized commodity.  It is also the largest supplier to the world's biggest oil consumer - the United States.  Therfore, rising oil prices tend to be good for Canada/bad for the U.S., while falling oil prices tend to be … (2 comments)

private real estate: Toronto For Sale By Owner - 10/24/08 11:35 PM
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