Bank of Canada bumps up rate
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Belief, Budget, Calgary Canada, Calgary Herald, Canada Banks, Caution, Commercial Banks, Economy, Global Recovery, Governments, Growth Outlook, Households, Interest Rate Decision, Pace, Prime Lending Rates, Rate Hike, Temper
Calgary Herald- The Bank of Canada raised its benchmark policy rate by 25 basis points to 0.75 per cent, even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies will "temper" the pace of the global recovery.
Many of Canada’s commercial banks followed suit by raising their prime lending rates.
The central bank acknowledged the economy is weaker than initially believed — but not feeble enough to call off yet another rate hike and likely more in the future.
Certainly, the interest-rate decision delivered yesterday teemed with caution. The central bank’s statement accompanying its decision highlighted how a "greater emphasis" on budget cutting among governments and households would slow the pace of the global recovery…
Making your next home work
Filed Under Main Content · Tagged: Amenities, Budget, Home Buying Process, Location Location Location, Money, Neighbourhood, Next Home, Priorities, Realtor, Valuable Services
Times Colonist- Location, location, location. Ask any realtor and he or she will agree that where you buy your home can be as important as how big it is, what it looks like and how much it costs.
One of the many valuable services a realtor provides is helping homebuyers find the right neighbourhood for them. They will work with you to develop a list of "needs" and "wants" as part of the overall home-buying process.
Determine your priorities. It’s a good idea to write down your needs and wants and develop a checklist to take with you. Obviously your budget will play a large role in determining where you end up buying. For example, your money may buy a lot more house in the county than it will in the city. But the style of home you want, and desired features and amenities, will also factor in…
Bank of Canada raises key overnight interest rate to .75%
Filed Under Main Content · Tagged: April, Bank Canada, Bank Of Canada, Belief, Benchmark, Budget, Business Investment, Confident Consumer, Gdp, Gdp Canada, Global Recovery, Governments, Growth Outlook, Households, Interest Rate, National Bank, Pace, Post Canada, Temper
National Post- The Bank of Canada raised its benchmark policy rate Tuesday to 0.75% even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies is expected to “temper” the pace of the global recovery.
GDP in Canada is now expected to expand 3.5% this year and 2.9% in 2011, the central bank said, compared to its previous outlook in April of 3.7% and 3.1% growth, respectively. However, business investment and trade are expected to make a larger contribution to Canadian growth, which up until now has relied heavily on a confident consumer…
Bank of Canada raises key overnight interest rate to .75%
Home forecloses don’t add up
Filed Under Main Content · Tagged: Budget, Credit Counseling Service, Durham Region, Executive Director, Failure, Financial Situation, Incidentals, Loans, Math, Mortgage, Rsquo, Sandra, Sherk, Sums, Track Expenses
Financial Post- Why do people default on mortgage and other loans? It turns out that it’s not so much the amounts they owe, but that they are unable to do the math that tells them exactly what their financial situation looks like. Lack of ability to add turns out to be a cause of many consumer insolvencies.
The damage caused by failure to do sums becomes evident when people find themselves in credit counseling.
"The common characteristic of people in serious debt is that they don’t know how to budget or track expenses," says Sandra Sherk, executive director of the Credit Counseling Service of Ontario’s Durham Region. "They let what they owe and incidentals get ahead of them…"
