Latest Market Notes
VANCOUVER - Home sales in B.C. edged down one per cent to 7,857 units in May compared to the same month last year, according to a B.C. Real Estate Association survey released Wednesday.
However, the report also said that the average price of a home climbed 20 per cent to $596,872 last month compared to May 2010.
"Tighter mortgage rules, tepid employment growth and advance buying during the first qua... read more.
Lending rate will stay at 1%
The Bank of Canada (BoC) today announced that they would be keeping the overnight lending rate at 1%. As such, there will be no movement in Prime.
This announcement was widely expected given that the global and US economy are still making very modest gains with some peripheral European ecnomies still posing some risks and the fact that inflation is well within the target of 2% as set by the BoC.
Th... read more.
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