Team Leading Edge is proud to announce their listing in Oxford accepted an offer within 24 hours of being listed. Congratulations to everyone involved!
Thinking of selling? Call Team Leading Edge today! 780-634-8151
OTTAWA (Reuters) – The International Monetary Fund expects Canada’s economy to grow slightly more than 1.5 percent this year and 2.25 percent next year while it sees the Bank of Canada refraining from interest rate hikes until the second half of 2014.
In its World Economic Outlook on Tuesday, the Washington-based lender’s forecasts for Canada were slightly lower than the central bank’s projections in July of 1.8 percent and 2.7 percent growth in 2013 and 2014, respectively.
However, Canada’s central bank is due to update its outlook on October 23 and Senior Deputy Governor Tiff Macklem made clear last week the numbers will be downgraded after he sharply cut the forecast for third-quarter growth in a speech.
The IMF linked Canada’s growth prospects directly to the U.S. recovery, which it says will strengthen exports and business investment as domestic consumption cools. The forecasts assume the U.S. government shutdown is short-lived and the U.S. debt ceiling is raised promptly.
“The balance of risks to Canada’s outlook is still tilted to the downside, emanating from potentially weaker external demand,” the report said.
The accommodative monetary policy in place in Canada since the 2008-09 recession remains “appropriate,” the Fund said, predicting gradual tightening to start in late 2014 from the current 1.0 percent rate. Analysts in a Reuters poll forecast a first rate hike in the fourth quarter of next year.
Canada’s record-high household debt earned it a mild warning from the IMF, which said the trend could amplify any shock to the economy.
It also identified big provincial budget deficits and debt as a vulnerability, without naming specific governments.
(Reporting by Louise Egan; Editing by James Dalgleish)
Source: Money.ca.MSN.com
| Selling your current home and moving into a new one can be stressful enough, let alone worrying about your current mortgage and whether you’re able to carry it over to your new home.
Porting enables you to move to another property without having to lose your existing interest rate, mortgage balance and term. And, better yet, the ability to port also saves you money by avoiding early discharge penalties. It’s important to note, however, that not all mortgages are portable. When it comes to fixed-rate mortgage products, you usually have a portability option. Lenders often use a “blended” system where your current mortgage rate stays the same on the mortgage amount ported over to the new property and the new balance is calculated using the current interest rate. With variable-rate mortgages, on the other hand, porting is usually not available. As such, upon breaking your existing mortgage, a three-month interest penalty will be charged. This charge may or may not be reimbursed with your new mortgage. Porting conditions |
be charged when you sell your existing property and buy a new one, some conditions that may apply include:
|
Investigators say it could be weeks before the cause of the Rutherford Landing massive condominium fire early Sunday will be known.
About 265 units in three buildings of a condo complex under construction in southwest Edmonton were destroyed in the $17 million fire.
– Fire tears through south Edmonton condo development
The fire covered two city blocks.
One building was almost finished with owners set to move in this December.
The second building had the roof on and construction was just underway on the third.
With all the buildings levelled to the ground there’s a lot of rubble for investigators to sift through, said Michael Tucker, spokesperson for Fire Rescue Services.
He says there are many witnesses to question as well.
Investigators have been on scene since 2 a.m. Sunday when the fire started
Tucker said he expects the damage estimate will rise over the next few days as more claims are filed because the intense heat melted the siding of nearby houses and vehicles parked nearby.
“I know our investigators just had preliminary chats with some of the homeowners, people who were affected from across the street,” he said. “That number is going to increase by quite a bit I would imagine as we get a better sense of the damages.”
The construction company, The Carlisle Group, said it will begin rebuilding the complex, which was 90 per cent sold, as soon as the investigation is complete.
The developer is unsure if the underground parkades can be salvaged.
Source: MSN
If you are thinking about buying a home in the near future you should consider doing sooner than later as higher selling prices and higher mortgage rates. This will either mean you will end up a lesser home or have to pay higher mortgage payments for the same home.
Start your search today by searching all MLS listed homes at www.EdmontonHomesForSale.biz
Also consider getting pre-approved for your a mortgage. Getting pre-approved will allow you to lock today’s interest rates for the next 90 – 120 days protecting yourself against any further interest rate increases.
For a mortgage pre-approval we recommend the following mortgage specialists:
The Mortgage Group – Chita
cell: (780) 932-2225
CIBC – Mark
cell: (780) 720-4826
Scotiabank – Lily
cell – (780) 668-6811
Buying now could potentially save you thousands of dollars… why wait??
Sincerely Yours,
|
Over the past few years it seemed every expert was telling us that interest rates would be rising, but after years of record low fixed rates, I think many of us stopped believing the headlines.
With bond prices dropping and yields on the rise, those rates that are tied to bonds have shown dramatic movement over the past month. For the most qualified, the rates on 5-year fixed mortgages have increased from a low of 2.89% to 3.59%, and are potentially still rising.
The term, “jumping on the band-wagon” now comes to mind. We see it most often with professional sports teams, fads, and sometimes even with politicians. It
|
 |
Perfect starter or investment property. 3 Bedroom townhouse, 1.5 bath. Ideally located close to schools, playgrounds, Rundle Park. Upper level has 2 large bedrooms and a 4 pce bath. The basement has a large master bedroom and a 2 pce bath. Newer hot water tank and furnace. It has it own private fenced yard in the front. All the windows have been recently replaced and all the fences have just been repainted. This is a great bargain so don’t miss out. *For more information visit realtor’s website*.
Click here to view more info and photos:
Serge Bourgoin Senior Managing Partner Team Leading Edge RE/MAX ELITE 780-995-6520To View & Search All MLS Listed Houses for Sale Visit Us At:www.EdmontonHomesforSale.biz
Perfect starter or investment property. 3 Bedroom townhouse, 1.5 bath. Ideally located close to schools, playgrounds, Rundle Park. Upper level has 2 large bedrooms and a 4 pce bath. The basement has a large master bedroom and a 2 pce bath. Newer hot water tank and furnace. It has it own private fenced yard in the front. All the windows have been recently replaced and all the fences have just been repainted. This is a great bargain so don’t miss out. *For more information visit realtor’s website*.
Click here to view more info and photos:
Serge Bourgoin Senior Managing Partner Team Leading Edge RE/MAX ELITE 780-995-6520 To View & Search All MLS Listed Houses for Sale Visit Us At:www.EdmontonHomesforSale.biz
Many lenders have already raised rates, however, I still have a couple lenders holding off. They too will increase them in the immediate future so get your pre-approval right away.
Former Show Home on A big lot! Original Owner! This well maintained 4 Level Split with 4 bedrooms and 2 1/2 bathrooms has plenty of room for the whole family. Mature trees on front and rear of home compliment the big pie shaped lot! With a double attached garage and upgrades including newer flooring on foyer and kitchen are great features for this wonderful home. With many amenities to shopping and public transportation and schools just minutes away what more could you ask for? Welcome Home!
Click here to view more info and photos or call today to view in person.
JP Dumlao Team Leading Edge RE/MAX ELITE 780-995-0540
What we’re reading today