Gas-price hike doubly painful...
Gas prices in Canada have risen 23% since September 2010. When looking at affordability in our industry we typically focus on household costs, but gas and oil prices also translate to real costs affecting household budgets. Something for you to consider when discussing budgets and size of mortgage with potential customers.
IMF boosts outlook for Canadian economy...
· TSX -211.57 to 13,996.86 Closed sharply lower below the 14,000 mark, led by big declines in energy and mining stocks as oil and metal prices gave up some of last week's gains.
· DOW +1.06 to 12,381.11
· Dollar +.10c to 104.55c USD as traders looked to Tuesday's interest rate announcement from the Bank of Canada. It is widely expected the central bank will leave its key rate unchanged at one per cent but will be looking to its accompanying statement for its take on the economy and the impact of a rapidly rising loonie, which started the year just above par with the U.S. dollar.
· Oil -$2.87 to $109.92USD per barrel After Libya’s Moammar Gadhafi appeared to accept a cease-fire plan with rebel forces.
· Gold -$6.00 to $1468.10 per ounce
· Canadian 5 yr bond yields markets +.03bps to 2.89. The spread (based on the MERIX 5 yr rate published rate of 4.39%) is near the top of the comfort zone at 1.50.
(courtesy of Barb Morgan, DBD Ontario Southwest)
