Rob Chuter (www.robchuter2.com): HomeBlog

Lower rates !!

April 22nd, 2008

Bank of Canada lowers overnight rate target by 1/2 percentage point to 3 per cent OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 3 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 1/4 per cent. Growth in the global economy has weakened, reflecting t ...

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April 1st, 2008

Regional overviews British Columbia - expect more balance in 2008 As forecast, affordability conditions deteriorated across every home segment in the final quarter of 2007 and we still believe the market is poised for some affordability relief. The two-storey segment continues to carry the brunt of the deterioration as the hot Vancouver market remains ...

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The Federal Budget

March 6th, 2008

Highlights include: A Tax-Free Saving Account (TFSA) that lets Canadians age 18+ contribute up to $5,000 a year starting in 2009. Contributions are not tax-deductible; income earned is not taxable. $110 million to the Mental Health Commission of Canada to support homelessness projects. Vancouver, Winnipeg, Toronto, Montreal and Moncton will share this amount. $250 million over five ...

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First-time buyers

March 6th, 2008

For the third consecutive budget, the BC government has increased the Property Transfer Tax (PTT) first-time buyer exemption price threshold. First-time buyers can now buy a home priced up to $425,000 and not pay the PTT. The previous ceiling was $375,000. Buyers of homes priced up to $450,000 can claim a proportional exemption. First-time buyers can now pay down their mortgages by an ...

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