Edmonton, June 2, 2010: The housing market was relaxed in May with slightly lower sales than last year and prices generally stable. Despite the sales drop, the current sales figures compare favourably with levels set in 2008. “Financial incentives, changes to mortgage qualifying rules and the threat of increasing mortgage rates caused the local market to peak a little earlier this year,” said Larry Westergard, president of the REALTORS® Association of Edmonton. “Many buyers ex ... Full Article...

Here’s one way to tackle the red-hot Canadian housing market: Get someone to buy you a home. That someone would be your parents. According to a new survey from TD Canada Trust, 10% of Canadians are considering buying a condominium for their adult children. A year ago, only 5% of parents thought about buying the kids a condo. “It could be something that the parents are looking at as a long-term source of income, letting their children live it in for now,” says Chris Wisniewsk ... Full Article...

Just sold this listing: "Great home for a growing family, with over 2400ft2 of living space with 4 bedrooms and 3 bathrooms. Open, bright floor plan with vaulted ceilings, bleached maple kitchen cabinets, sit down breakfast bar, corner pantry, and upgraded appliances. Family sized dining nook great for formal dinners or entertaining. New ceramic tiles in kitchen, dining room hall and bath. Huge master with plenty of space for a king sized bed, walk-in closet and full ensuite. Developed basement ... Full Article...

Just sold this listing: "Enjoy the view of the lake every morning from your balcony, or take a walk on the trails. Great curb appeal with tall columns greeting you at the entrance, spacious foyer with double closets. Two designated parking stalls. Open concept design with a large u-shaped kitchen facing the relaxing livingroom with patio doors to the balcony. Two large bedrooms plus king sized master with a full ensuite and double sit-down shower. Partially developed basement is pre wired, with ... Full Article...

Just added this listing: "Upgraded end unit facing a quiet street, perfect start for a young family. Ideal location with parks schools and playground within walking distance. Bright, oak kitchen is loaded with cabinets, has a large side window, double sink, and upgraded linoleum flooring. Dining nook with another large window and plenty of space for family meals. Upgraded Berber carpet on main and upstairs. Separate livingroom is great for relaxing or entertaining. Oak railing will lead you ups ... Full Article...

OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate. The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market economies, some consol ... Full Article...

Thirty-two of 40 forecasters polled by Reuters expected the Bank of Canada to raise rates by 25 basis points on June 1 to 0.50 percent. Canada's 12 primary securities dealers were unanimous in that view. Eight of 40 saw rates staying on hold next week. The poll was conducted between May 24 and May 27. Yields on overnight index swaps, which trade based on expectations for the key central bank rate, suggested investors see a 77 percent chance the policy rate will rise to around 0.50 percent on Ju ... Full Article...