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Will I Be Able to Afford My Mortgage in Five Years?

As interest rates creep upward, first-time home buyers might wonder if getting into a mortgage is a good idea. What if rates rise during my mortgage term, and how will I make the increased payments? There is a smart way to avoid being faced with an inescapable increase in payments should you have to renew your mortgage at a higher interest rate – and that is to pay down as much of ...

Bank of Canada Raises Overnight Lending Rate

Canada’s central bank raised its key interest rate by 25 basis points to .75 percent today, in response to signs of a strengthening economy in this country.  However, the bank stated that continued instability in world markets could preclude another rate hike on September 8, when it makes its next rate announcement. In its accompanying statement, the Bank of Canada also revised ...

Canadian Employers Optimistic: Survey Shows

The latest Bank of Canada Business Outlook Survey reveals optimism, despite economic turmoil in Europe and a slow recovery in the U.S. The survey was conducted with senior managers of 100 businesses selected in accordance with the composition of Canada's gross domestic product. Survey highlights include: 49 percent of those surveyed say that their firms’ sales volumes ...
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