604homesblog

The Bank of Canada cut it's overnight rate by 50 basis points,or 1/2 a percent, to 3% this morning. The major bank will most likey respond with a cut in their mortgage rates. The rationale for the cut was that:Growth in the global economy has weakened, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations ...

The Bank of Canada has cut the target for it's overnight lending rate by half a percentage point today and the major banks have already started to respond by lowing their prime lending rate by an equal amount. This will help to spurr on the Spring real estate market in Metro Vancouver as every small decrease in interest rates brings about ...

Carole Taylor, wearing her new, greener shoes, released the budget yesterday in Victoria. The big news has been about the carbon tax that was introduced, but for first time homebuyers driving around in their cars looking for their first home the big news was that the budget also increased the threshold for the the First Time Homebuyers Program ...