Archive for Prince Edward Island
Bank of Canada holds firm on Prime
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As expected, the Bank of Canada recommitted yesterday to leaving its benchmark interest rate at a record low of 0.25% through to the middle of next year.
The central bank is taking a brighter view of the economy, citing stronger-than-expected household spending. Policymakers said that Canada’s GDP would shrink 2.3% this year, compared with an earlier estimate in April that the economy would contract 3%. GDP will expand 3%, compared with an earlier call for growth of 2.5% next year, the BoC said in its latest policy statement.
The revisions reflect what the central bank said are “increasing signs that economic activity has begun to expand in many countries in response to monetary and fiscal policy stimulus and measures to stabilize the global financial system.”
Still, the BoC called the recovery “nascent” and emphasized that “effective and resolute policy implementation remains critical to sustained global growth.”
Canadian retail sales rose much more than expected in May after a surprise drop the previous month, Statistics Canada said today.
Sales increased 1.2% during the month to $34 billion, with gains in seven of eight sectors, led by a 2.4% increase in automotive products, the federal agency said.
“Retail sales have been generally rising since the beginning of 2009,” Statistics Canada said.
Most economists had expected sales to rise by just 0.5% in May after a 0.6% decline in April. – Financial Post
Keeping you posted with Thanks,
Jonathan M. H. Silveira
mortgage Broker
Phone: 1-800-662-7757
Cell: 1-778-861-5467
Fax: 1-866-533-4261
Email: jsilveira@dominionlending.ca
Website: http://www.JonathanSilveira.ca
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Prince Edward Island Mortgages and Home Loans
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Prince Edward Island mortgages and home loans: Prince Edward Island, is one of the smallest of the Canadian provinces both in size and population, but not in warmth and relaxation. The capital city is Charlottetown. With a population of approximately 140,000, its charming “Island Way of Life” has something to offer everyone. PEI boost safe communities in which to raise your families or enjoy your retirement years.
PEI is one of Canada’s most affordable provinces. With low homeowners’ costs, this makes for an attractive mortgage and home ownership environment.
Mortgage lenders tend to consider the PEI Mortgage market as quite good and many lenders will consider doing a Prince Edward Island Mortgage. Contact a Mortgage Shopper Canada mortgage broker to help answer any questions on mortgage qualifications and funding.
Speak with a professional mortgage broker now and get free advice that could help you find the best mortgage! Call 1-800-662-7757 or:
Click here to receive up to 5 Quotes on a home purchase Loan, Home refinance Loan, home equity Loan or a Debt consolidation loan.
