OTTAWA, Ontario, January 22, 2008 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 4 1/4 per cent.
In the second half of 2007, the Canadian economy grew broadly in line with the Bank’s expectations in …
In a nearly unprecedented move the Federal Reserve
early Tuesday cut the Federal discount rate by .75 of a point, the
largest single rate cut in 20 years…
CALGARY, Alberta, January 18, 2008 — Families in the south-eastern Calgary community of Millican – Ogden will have access to more affordable housing after a grand opening ceremony was held today for a $13.2 million, 60-unit four-storey, multi-family housing development that will provide affordable rents to low-income households with children and persons with mobility …
Discount mortgage points seem to confuse a lot of people. Many folks aren’t sure what they are, when they should buy them, or if they actually did buy points when they got their mortgage. The truth is, points aren’t that complicated. In fact, some simple math can make it really easy to determine if you will benefit from purchasing points.
Reuters - NEW YORK (Reuters) -Stocks fell on Thursday, with the benchmark S&P 500 plummeting to a 15-month low, as news of a plunge in regional factory activity and a hefty loss at Merrill Lynch further clouded an increasingly dire view of the economy.
The Mortgage Bankers Association (MBA) released
information Thursday on the role the mortgage industry
is playing in the current drive to help homeowners who are delinquent on
or struggling with their mortgages.
Now it begins. The President and the Chairman of the Federal Reserve
admitted on Thursday (whether belatedly or not is for others to
determine) that the U.S. economy is taking a header, and yes something
needs to be done about it but, no, we aren’t quite ready yet to announce
exactly what.
AJAX, Ontario, January 17, 2008 — The Government of Canada and the Government of Ontario today announced more than $65 million in funding for affordable housing across Ontario. The funding will help create 946 new affordable rental units and provide down payment assistance to 129 households. In addition, 113 houses in Northern Ontario will undergo repairs and renovations with funding from …
1200 sq. ft., 3 bedroom, 2 full baths fully furnished. 2 years old. […]
This morning the U.S. Census Bureau and the Department of Housing and Urban Development announced that builders continue to initiate the construction of new homes in lower numbers. According to the joint report, privately-owned housing starts for the month of January 2008 fell 14.2 percent month-over-month as compared to December 2007.
I was reading this article from CNN Money that I found rather interesting. The article is the answer to a question a reader had submitted. The question was “I have $600K in a money market that I plan to invest in Vanguard index funds. Should I put it in at once or dollar cost average in increments over a certain period of time?”
Freddie Mac has just released the results of its 24th Annual
adjustable rate mortgage (ARM) Survey.
Housing starts took another nose-dive in December
according to a joint release from the U.S. Census Bureau and the
Department of Housing and Urban Development.
As expected, Merrill Lynch became the umpteenth
financial institution to take record write-downs linked to the sub-prime
mortgage fiasco. The U.S. investment bank’s announced $14.1
billion in adjustments in the fourth quarter came in…
Beautiful 2 bd./2ba. condo for rent - wk.13 (Mar29-Apr.5th.) all amenities (maid service, etc.) 2nd. floor - Presidential Suites….Oceanfront - beautiful beach - restaurant on site - within walking distance to Alhambra cassino. Perfect for 2 couples or family or Honeymoon couple! Asking $1400 for the week. Please email Carole at DKYBMPS@aol.com.
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Mortgage rates plummeted last week as week economic
reports, chiefly jobs and unemployment reports came in at the weakest
levels in several years.
For the second consecutive week, the number of consumers applying for a mortgage to purchase a home or refinance an existing loan has surged as the economyâs ongoing woes continue to drive down interest rates.
According to Reuters, the investment group said that Citi’s “failure
to manage mortgage-related risk” cost shareholders $126
in share value when the stock tumbled last year.