Archive For The “News” Category

Bank of Canada increases overnight rate target to 1 ¾ per cent

Quoting the The Bank of Canada press release October 24, 2018: ” The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent. The global economic outlook remains solid. The US economy…

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Annual inflation rate accelerates to 2.2%

Canada’s Inflation Rate Higher than Expected A recent iPOLITICS article reports the annual inflation rate accelerated to 2.2%, which is above the Bank of Canada’s expected target. Stephen Poloz, the Bank of Canada’s governor, stated that despite the three interest rate hikes since last summer he maintained the current rate as the Bank watches the…

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2018 Economic Outlook: BDC

Canada’s 2018 Economic Outlook from BDC “Canada had solid economic growth of 2.9% in 2017, having weathered the oil price shock of the past two years. Our economy is on a solid footing. The expansion has been broad-based, with all sectors of the economy contributing. Our goods exports are up 8.7% year over year. Business investment, which is absolutely…

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Canadian Mortgage Qualification Rule Changes: Oct. 2017

In an effort to keep Canadians from taking on a larger mortgage than they can afford the Liberal government has announced significant changes to the mortgage qualification rules. Finance Minister Bill Morneau also noted these changes should help stem some of the concerns about foreign buyers buying and flipping houses such that they drive up housing costs…

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Interest Rate To Remain at Current Levels

The Bank of Canada today maintained its target for the overnight interest rate at 1 per cent. Projections for Canadian economic growth have been increased to 3.1 per cent this year and 2.1 per cent in 2018, with growth of 1.5 per cent forecast for 2019. According to the This Senior Loan Officer Survey, results point to nearly unchanged…

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Smart home technology grows at a rapid rate!

Smart home technology has gone from basic security to smart windows that open and close based on the weather and indoor air temperature.  Here’s a look at a few smart home innovations that will revolutionize our lives: Connectivity is King – The connected home is a huge theme this year that features connected appliances, smoke alarms,…

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Orillia ranks 5th in Canada for real estate investment

Mayor Steve Clark Not Surprised Orillia Great Place to Invest By Andrew Philips, Special to Postmedia Network, Wednesday, November 16, 2016 A new study ranks Orillia as the fifth best Canadian city to invest, something that doesn’t surprise Mayor Steve Clarke. Canadian Property Investor magazine ranked the city fifth for real estate investment, just after Brampton, Richmond Hill,…

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(Orillia) Hydro deal will energize real estate: expert

“…and will also put positive pressure on the housing market, stabilizing it and buffering it against any future downturns… Orillia and Hydro One Deal is a Good Deal For Orillia Real Estate By Mehreen Shahid, in Orillia Packet & Times  on Wednesday, August 17, 2016 The city’s deal with Hydro One bodes well for the future of real estate…

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The Bank of Canada raises rates once again, now at 1%.

BANK OF CANADA INTEREST RATE UPDATE   The Bank of Canada announced on September 6, 2017, it was further raising its trend-setting overnight lending rate from 0.75% to 1%. The rate rose by 0.25% in July, meaning the latest September increase fully unwinds the half-percentage point by which the Bank dropped interest rates in early…

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