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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

  Phone:      905-761-7001 

  Toll Free: 1855-761-7001
  Fax:          905-761-7005
  Email: info@bestmortgagebrokersrates.com



News
8 July 2011

Canadian employment news is good – US is not so rosy


Canadian economy creates 28,000 jobs – better than expected result. Unemployment rate is steady at 7.4%. 21,000 jobs were part-time with 7,000 full time positions added in June. South of the border the story is completely opposite – only 18,000 jobs were created in June in the much larger US economy. Unemployment rate rose by 0.1% to 9.2%.

On top of that, May employment results were revised to 25,000 down from 54,000.

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7 July 2011

Average House Price in Canada sounds more like average patients temperature in hospital


Canadian housing market is becoming more and more segmented, according to the CIBC lead economist Benjamin Tal. "Glancing at popular metrics such as the price-to-income ratio or the price-to-rent ratio, it is tempting to conclude that the housing market is already in clear bubble territory and a huge crash is inevitable," he said in response to the latest round of predictions for housing market correction.

"Tempting, but probably wrong. When it comes to the Canadian real estate market at this stage of the cycle, any statement based on average numbers can be hugely misleading. The truth is buried in the details—and there the picture is still not pretty, but much less alarming."


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6 July 2011

Canadian dollar is lower amid China rate increase and Portugal rating downgrade


Canadian dollar is trading a bit lower against US dollar today because of the news from China and new “junk” status of Portugal debt papers.

Chinese Central Bank rises key interest rate 3rd time this year to slow economy and fight high inflation.

Rating agency Moody downgraded Portugal debt to “junk” raising the question again about deep European Union problems.

In Canada Royal Bank is forecasting that Bank of Canada will start rate hikes in September, while the rest of traders expects first hike no earlier than February 2012.

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News

19 June 2013

RBC and TD are positive about Canadian economy in the second half of 2013 We always welcome positive economic forecasts and especially when leading e...Read more >>

18 June 2013

Buyers have adapted to mortgage rules and return to housing market in GTA According to the recent report by Toronto Real Estate Board (TREB), there w...Read more >>

17 June 2013

Will you inherit your parents’ debts and mortgage? Death of a parent is always a tragedy. But sometimes in addition to emotional shock it may bring y...Read more >>
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7676 Woobine Avenue Suite 300 Markham, ON L3R 2N2
2180 Steeles Avenue West, Suite 204, Concord Ontario L4K 2Z5
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