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2180 Steeles Avenue West,
Suite 204, Concord,
ON, L4K 2Z5

Phone:     905-761-7001
Toll Free: 1855-761-7001
Fax:          905-761-7005

Email: mortgageadvisor@rogers.com





News
23 February 2018

Annual inflation growth slows down

According to the recent report by Statistics Canada, the consumer price index (CPI) was up by 1.7% annually last month, following a 1.9% increase of December.

Meanwhile, a monthly gain reached 0.7%. Both increases exceeded economists’ forecasts.

Statistics Canada says consumers paid 3.2% more for transportation in January, than a year earlier. In December we saw a 4.9% hike. The annual change in prices for passenger vehicles and gasoline were more moderate last month than in December.

In case of food prices, the year-over-year gain reached 2.3%, following a 2% increase in December.

 
22 February 2018

CIBC outpaces other Canadian banks in quarter earnings

The Canadian Imperial Bank of Commerce (CIBC) took the leading position among other big Canadian banks in terms of dividend growth. It also showed a better-than-expected first-quarter net income, supported strongly by higher earnings in its U.S. division, as the bank plans to expand the business because of lower mortgage activity in Canada.

Being the fifth biggest bank in the country, CIBC says it keeps benefitting from its last year’s purchase of The PrivateBank in Chicago, later renamed as CIBC Bank USA.

 
21 February 2018

Vancouver introduces new measures against foreign homebuyers

Another round of strict measures against foreign buyers is taken in Vancouver, one of the hottest real estate markets in North America.

British Columbia Finance Minister Carole James implemented tightening of rules aimed at foreign buyers and speculators in the first budget since the election, following her promise to make real estate more affordable for local residents.

According to the new measures, starting Wednesday, foreigners will pay a 20% (not a 15%) tax in addition to the sale price. Moreover, a levy on housing speculators will be introduced later in 2018. The government plans to look into the condo pre-sale market and beneficial ownership in order to make sure property flippers, offshore trusts and secret investors are paying all the necessary taxes.

Residents’ worries are getting stronger as the global capital searching for safe investments (particularly from China) is causing double-digit growth of home prices in Vancouver, making it Canada’s most expensive market.

 
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News

23 February 2018

Annual inflation growth slows down According to the recent report by Statistics Canada, the consumer price index (CPI) was up by 1.7%...Read more >>

22 February 2018

CIBC outpaces other Canadian banks in quarter earnings The Canadian Imperial Bank of Commerce (CIBC) took the leading position among other big Canad...Read more >>

21 February 2018

Vancouver introduces new measures against foreign homebuyers Another round of strict measures against foreign buyers is taken in Vancouver, one of th...Read more >>
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