BC Economic News and Briefings
For the latest economic news, check out our current Weekly Economic Briefings in PDF format. You'll get a BC and Ontario perspective and find up-to-date information on interest rates, the national debt, employment trends, budget highlights, inflation, tax changes and other economic issues of the day.
An in-depth monthly report from Helmut Pastrick, Chief Economist, forecasting where interest are heading with an assessment of the key economic, financial and policy factors shaping those trends. Contains updated Interest, Deposit, Lending and Bank Rate Forecasts.
The Canadian Real Estate Association collaborates with the Financial Consumer Agency of Canada to fill need
OTTAWA, Nov. 26, 2012 /CNW/ - Consumers have a new tool to help navigate the complexities and financial implications of purchasing a home. Earlier today, The Canadian Real Estate Association (CREA), and the Financial Consumer Agency of Canada (FCAC) launched the Homebuyers' Road Map. The Road Map is available on CREA's website at crea.ca.
In a recent Nanos Research survey1 for CREA, more than 63% of Canadians indicated a "major need" for more information about the financial details of buying a home. That figure rose to 70% for respondents between the ages of 18 and 29.
"As REALTORS®, we appreciate that young Canadians and first-time homebuyers are craving more information about the financial details required to purchase a home. The purpose of the Homebuyers' Road Map is to empower consumers with the knowledge, skills and confidence to make responsible financial decisions about one of the largest purchases they will ever make," said Gary Simonsen, CREA's CEO. "We're proud to have collaborated with the Financial Consumer Agency of Canada to develop this guide."
Launched to coincide with Financial Literacy Month, the Homebuyers' Road Map is a guide which will help Canadians better understand the home buying process as well as appreciate the importance of negotiating with lenders and researching government programs.
"Helping Canadians plan for the future, make sound decisions and ensure the financial security of their loved ones are essential in this increasingly complex world," said Shelly Glover, Parliamentary Secretary to the Minister of Finance.
"Buying a home involves a number of steps and many buyers need some help in understanding the various options available. In order to make the decision that matches their own circumstances and goals, consumers need some money know-how — which is what financial literacy really is," added Ursula Menke, Commissioner of the Financial Consumer Agency of Canada (FCAC). "This guide will help people make the right decision, and adds to the information on mortgages, loans and banking available on our website, itpaystoknow.gc.ca."
To access the Homebuyers' Road Map, and to find out how a REALTOR® can help, please visit crea.ca and click the Buying or Selling? tab.