Homeowners in Canada will breathe a sigh of relief after the central bank cut interest rates for the first time in four years and signalled more to come...
TORONTO/OTTAWA - Homeowners in Canada will breathe a sigh of relief after the central bank cut interest rates for the first time in four years and signalled more to come, easing some pressure on variable rate mortgage holders.
"For the economy, one 25 bp move... is not going to make a big impact all by itself. However, it will give at least a small bump to sentiment among borrowers, and brighten the mood in what has been a remarkably quiet housing market," BMO's economist Doug Porter said.Ratehub.ca's calculations show that for a home worth C$703,446, the average price in Canada, a 5-year variable rate of 5.95% amortized over 25 years has a monthly mortgage payment of C$4,157.
Canada's big banks, which are keeping a close eye on their mortgage loan books to limit risks, cut their prime rates to 6.95% following the announcement. Traders who scooped up Warren Buffett’s Berkshire Hathaway shares at a massive $620,000 discount during glitch will have their deals canceled by the NYSE
Musk said he diverted the chips because "Tesla had no place to send the Nvidia chips to turn them on."Like most market-based investments, the price of gold gyrates in all directions. So how has it performed over the last ten years? If you invested $1,000 in gold a decade ago, how much would it be...
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