Amid an improved outlook for both the domestic economy and the global financial system and the Bank of Canada announced that it will hold its target for the overnight rate at the effective lower bound of 0.25%, and that it will be adjusting its weekly net purchases of Government of Canada bonds.

The bank rate has also been kept at 0.5%, and the deposit rate at 0.25%.

“The Bank continues to provide extraordinary forward guidance on the path for the overnight rate, reinforced and supplemented by the Bank’s quantitative easing (QE) program,” the institution said in its announcement. “Effective the week of April 26, weekly net purchases of Government of Canada bonds will be adjusted to a target of $3 billion. This adjustment to the amount of incremental stimulus being added each week reflects the progress made in the economic recovery.”

Canada’s sustained resilience despite the COVID-19 pandemic has called for these steps, although the central bank emphasized that “the recovery remains highly dependent on the evolution of the pandemic and the pace of vaccinations.”

Read more: Finder: Low-rate environment can help Canadians address high debt levels

The BoC projected global GDP to grow by just over 6.75% in 2021, around 4% in 2022, and nearly 3.5% in 2023.

“The recovery in the United States has been particularly strong, owing to fiscal stimulus and rapid vaccine rollouts,” the bank said. “The global recovery has lifted commodity prices, including oil, contributing to the strength of the Canadian dollar.”

However while substantial employment gains in February and March accompanied Canada’s stronger-than-expecteed economic growth in the first quarter, The BoC warned the ‘new lockdowns will pose another setback and the labour market remains difficult for many Canadian especially low wage workers young people and women.”

Read the full article compliments of Mortgage Broker News.

https://www.mortgagebrokernews.ca/

Lethbridge market continues to be carried by most of the sales in the 200,000.00- 400,000.00 range, but sales did increase across all price ranges. In fact the sales for the month of March out performed the 10 year average by 61%. The detached and semi detached markets continue to rise. The row and apartment style are still lagging behind with the row housing remaining balanced. The apartment style is still well within a buyer market.

The total amount of sales across Alberta in March exceeded the 10 year average by 56%. Consumer confidence has returned to the Real Estate Market. All indications support the strong markets are to continue as the first time home buyers appear to be fueling the market. This allows seller to move up the property ladder. With incredibly low interest rates, increased savings and limited options as to where to spend money many people are choosing to invest in real estate!

Here is the link for Michelle Greyson for any questions about real estate purchases:

https://michellegreysen.cirrealty.ca

Spring is just around the corner and I have a few great tips to get your yard ready for the the coming season!

1. Clean Up Your Yard: Remove and branches or other debris that has piled up over the winter months. Rake out the old dead grass and debris.
If you have a leaf blower that makes things even easier!

2. Apply Environmentally Friendly Fertilizer: To help your lawn shine this spring,now is a good time to start tending to your yard. Use an
environmentally friendly now and in 6-8 weeks will help your lawn sprout up. https://www.growingagreenerworld.com/ has lots of great tips!

3. Mow Early and Often: If you want to avoid stunting your lawn growth, you will want to mow your lawn every five or six days to ensure a thicker
fuller yard!
4. Trim the Trees: Trees that are left unattended can cause damage and potential injury from falling, dead branches. Consider hiring a
professional to prune your trees every three years to prevent decay and damage.
5. Avoid Seeding Until Fall: If you have brown patches in your yard it might be tempting to fill them with grass seed but wait until after your
fertilize and they should grow in within a few weeks!

compliments of DLC Newsletter

Did you know?
Reverse mortgages are gaining popularity for Canadians over 55! Many Canadians are looking to retire but are faced with high debt loads and ongoing expenses and a reverse mortgage can help! This is also a great product for anyone wanting to help their elderly family members. Instead of selling their house and moving them to care or assisted living a reverse mortgage can help. its a great way to access the equity in their home and help pay for ongoing costs.

The goal of a reverse mortgage is to allow for Canadians over 55 to access the equity in their home and assist with comfortable financial living. With the reverse mortgage the borrowers are not required to make regular payments. It allows for a considerable inflow of cash without having to pay off what they owe. The only time a payments due is when you sell the home or move out of it. Reverse mortgages can be can be set up as a one time lump sum or a structured monthly payout.

Reverse mortgages also have additional benefits including:
* No monthly payments.
*No income qualifications.
*Title and ownership remain int he property owners name.
*Flexible option if you need to break the term early.
* Penalty waived in the event of death or care home placement.

Struggling financially later in life is can be avoided by a reverse mortgage. You can use the funds to pay off debt or gift money to family or even increase your investment portfolio If you need assistance in possibly acquiring a reverse mortgage please contact me today! I would be happy to discuss your options and find a product that best suits your needs! Access my website for all the information you need to know about mortgages. Fill out my online application or access my contact form!
Information provided by April newsletter by Dominion lending

So you want to do a home renovation project?! Now its time to look for the right contractor to do the job! Doing a thorough job looking online and asking friends and family is important. Once you find your potentiate contractor, its time to treat the process like a job interview! Being prepared with the right questions can prevent problems in the future but also ensures you are happy with the finished result.

If you are hiring a contractor for your big home reno make sure you ask these important questions..

1. What is your experience in home renovation?

This question can help you determine how long the contractor has been in the bushiness and whether or not they have worked with similar challenges. It is important to also confirm that they will be able to finish the project on time and the steps they will use to ensure the completion. Looking on social media for positive reviews will also help to confirm you have make the right choice.

2. Do you have a contracting license?

Depending on which province you live in there are different requirements for what type of license a contractor has to hold. Check the laws in your region to see what may apply and confirm with the contractor that they hold the proper license.

3. Do you carry the proper insurance?

The information provided by the Canadian Homeowners Association, hiring people without the proper insurance could put you in legal or at financial risk should something happen in your home. Make sure this is one of the first things you check off your list. Protect yourself and the contractor by making sure they have workers compensation and liability insurance.

4. Will you recieve a written contract?

If the answer to receiving a written contract is no then don’t even bother moving forward with the interview. The CHBA says contract should cover a description of the work also the materials used and the cost of the job. It should also include a payment schedule. Paying full price upfront is an usual business practice.

5. Can you can get in touch with past clients?

A contractor should be proud of the past work! Contact past customer and ask about completion timelines and ask how disputes were resolved!

6. Who is responsible for building permits?

If building permits are needed make sure that there is a clear understanding of who is applying for them and ensuring they are valid. Always attend the final inspection with the builder to ensure work is done properly and that if any changes are needed you can confirm they are completed!

article provided by FCT