The Bank of Canada cut interest rates by a quarter point to 4.25% this week. This move suggests that the central bank is concerned that the high loonie, the weakening US economy and the credit turmoil caused by the fallout of US subprime loans may impact the Canadian economy.
Newly-released census data sheds some light on the 'most multicultural city in the world' debate we highlighted earlier this year. Figures indicate that immigrants are fueling Canada's population and workforce growth. From the Toronto Star:
Half the people in the City of Toronto are now foreign-born, according to 2006 Canadian census figures released yesterday, making it more diverse than Miami, Los Angeles or New York City.
The Globe and Mail reports that mortgage fraud appears to be on the rise as the Law Society of Canada is currently investigating 140 lawyers for their involvement in mortgage fraud. Title insurance is one of the best ways HomeBuyers can protect themselves from mortgage fraud.
December 7, 2007This Week In Real Estate |