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Author Archives: Michael King
The Bank of Canada has lowered their interest rate by 0.25%. The overnight rate was lowered from 0.75% to 0.5%. Prime Rate is now at 2.5%. Assuming, of course, that lenders follow the Bank of Canada’s lead, we should see … Continue reading
If passed, Bill 2 – “An Act to Restore Fairness to Public Revenues”, will increase the corporate income tax rate for profitable corporations by two percentage points and introduce a more progressive personal income tax system. Corporate taxes will increase … Continue reading
“We thought the Condo Corporation insurance covered this?” A comment that has been said many times before, when it’s TOO LATE! Here are some helpful questions you can ask your insurance provider; Can the Corporation insurance deductible (in some cases … Continue reading
The PC budget increased the variable Mortgage Tax and Land Transfer fees from $1 to $6 for every $5,000 of property value which would have taken effect on July 1, 2015. It also increases the fixed fees for mortgages, land … Continue reading
Fort McMurray REALTORS® are offering their annual scholarships to students graduating in 2015. Students applying will need to be enrolled in post-secondary education in September 2015. Recipients will receive $2000 towards their future education. A total of 5 scholarships will … Continue reading
On July 1, we’ll have dramatic hike for registering new land titles and mortgage documents will triple or quadruple the cost for many new property owners. Both segments of land title and mortgage registration fees will rise. The flat-fee portion … Continue reading
The Bank of Canada announced today that it will be keeping the overnight rate at 3/4 percent. Many were hoping that they’d drop the rates again. The next scheduled date for announcing the overnight rate target is April 15th, 2015.
The price of oil is on the rise amid speculation that demand is strengthening, curbing a supply surplus.