Canada’s central bank is keeping its benchmark interest rate steady at 1% – the same level since September 2010.
The Bank of Canada said yesterday it would hold its target for the overnight rate steady in its latest policy decision.
The bank has decided not to raise or lower the rate on which other banks base many of their interest rates for 14 consecutive six-week policy meetings, dating back to fall 2010. That’s the longest that Canada’s central bank has stayed on the sidelines since the 1950s.
“Underlying economic momentum appears largely consistent with expectations,” the bank said in its statement accompanying the decision.
Click here for the full CBC News article.
With the amazing gains enjoyed by real estate investors in the past several years, it’s been easy for prospective homebuyers to conclude that investing in real estate is easy – almost a sure thing. All you have to do to make money – or so it would seem – is to pick a property, lock in a low-rate mortgage and wait for the profits to start rolling in.
However, the dark side to the run-up in real estate prices is that finding a place that’s not overpriced is getting tricky – very tricky. And with all the recent talk of a housing bubble, you really have to ask yourself if there’s any place left in Canada where homes are still a good buy.
The short answer is yes. That’s because in some cities, home prices are still reasonable, and buoyant economies mean prices are destined to rise higher. What you need is a system that can consistently spot good places to buy real estate – in good or bad economic times.
MoneySense’s “Best deals in real estate” is built on just that kind of system. For the past four years the magazine has fine-tuned a unique, scientific approach that allows it to dig deep into the numbers and come up with the cities that hold this year’s treasures for real estate hunters.
Click here to read more from MoneySense.
For years I’ve been saying that we’re no damn good at handling credit. In response I’ve heard a lot of whining about nobody having taught us about money. If you don’t want your kids to make the same mistakes you did, isn’t it time to help them see how credit can be used as a tool instead of as a debt-trap. Hey, it’s only a matter of time until someone comes and waves a credit card under their noses and says, “Try it, you’ll like it.”
Can you imagine walking into a bank and saying, “Excuse me, but I don’t have a job, and I’ve never had credit, may I have a credit card please?” They’d laugh you out of the bank. Yet every year thousands of credit cards are given to unsuspecting students who have no visible means of repayment and don’t understand the impact of failing Credit Management 101.
Want to change that for your children?
As early as age 10, start teaching your children how credit works, when to use it and how to spend only what they can afford.
Click here for the full article from MoneySense.