Why do mortgage rates rise fast, fall slowly?
“Such behaviour by banks may have broader implications for Canada’s monetary policy”..
Canadian housing starts expected to stabilize this year and next
Economic growth and lower unemployment will prop up the need for new homes
* TSX +76.97 to 14,136.15 closed higher for a fourth consecutive session amid encouraging U.S. economic data and rising oil prices
* DOW +29.97 to 12,318.14
* Dollar +.unchanged to 101.53c USD at one point Thursday Canada's dollar hit its highest in nearly three years, spurred by cautious optimism on the U.S. economy from the U.S. Federal Reserve and buoyed by a firm oil price and a positive outlook for global equity markets, jumping as high as 101.87c. However a stronger dollar will not go unnoticed by the Bank of Canada.
* Oil +$1.37 to $86.36 USD per barrel as the index of manufacturing activity in the Philadelphia region jumped in February to its highest level since January 2004
* Gold +$10.00 to $1385.10 per ounce
* Canadian 5 yr bond yields markets up another -.01bps to 2.77. The spread (based on the NEW MERIX 5 yr rate published rate of 4.14%) is now at the bottom of the comfort zone at 1.37.
(courtesy of the birthday girl...Barb Morgan, DBD Ontario Southwest)
