Current Prime Rate is 2.75%.
| TERM |
MARKET |
BEST |
| 6 Month |
4.90% |
4.45% |
| 1 Year |
3.50% |
2.44% |
| 2 Year |
3.90% |
3.20% |
| 3 Year |
4.45% |
3.49% |
| 4 Year |
5.14% |
3.89% |
| 5 Year |
5.49% |
3.79% |
View more rates
Lower rates may be available under certain conditions -
ask us!
Edmonton Real Estate Update
While the summer temperatures rose in July, housing prices cooled and prices for all types of residential properties dipped slightly according to figures released by the REALTORS® Association Read on
Act now before the Rules Change!
There is likely going to be a flurry of activity before April 19 - as many take advantage of the existing rules and move up purchases and refinances. If you want to take advantage, call us today!.... Read on
Market Update
North American markets opened in positive territory to start the week, although trading is rather subdued ahead of tomorrow’s policy announcement by the Federal Reserve.................Read on
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North American markets opened in positive territory to start the week, although trading is rather subdued ahead of tomorrow’s policy announcement by the Federal Reserve. Expectations are high for another round of quantitative easing where the Fed would reinvest proceeds from maturing mortgage backed securities into Treasuries, thereby keeping their foot on the gas pedal. More than likely the Fed will signal it is at the ready, rather than announce any actual change in policy. Either way it’s clear that we’re a long way off from any increase in US interest rates. McDonald’s shares are strong after reporting better than expected same-store-sales growth.. Hewlett Packard is under pressure after its CEO was forced to resign amid allegations of inappropriate activity. The TSX is up 35 pts. The Dow is up 39 pts. The Canadian dollar is clawing back some of Friday’s lost ground, up 10 bps to US$.9740. Bond yields are steady at 2.26% for the 5-year Canada and 3.08% for the ten. Oil is up 76 cents to US$81.46/barrel. Gold is up $2 to US$1203.30/oz. Have a great day
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North American markets slipped at the open this morning after first-time unemployment claims in the US unexpectedly jumped to a three month high. Caution seems the order of the day ahead of tomorrow’s Labour Department reports from both Canada and the US. The European Central Bank left rates unchanged at 1% overnight, with ECB President Trichet noting that data so far in the third quarter shows the Euro-area economy is strengthening faster than initially forecast. An impressive 3.2% jump in German factory orders certainly supports this view. Financials are weighing on the TSX after Manulife reported a downright dismal second quarter, while Sun Life’s was only slightly less awful. The picture is significantly brighter at Bell Canada which beat estimates and raised both its full-year forecast and its dividend this morning, as the addition of data plans for Apple’s iPhone and iPad boost the bottom line. Judging by the line-up that continues to snake its way outside the Apple store downtown here since the release of iPhone 4 last week, those results were no fluke. The TSX is down 68 pts. The Dow is down 43 pts. The Canadian dollar has been on a tear the last two weeks, almost touching “the Gretzky mark” this morning before settling back to US$.9853. Bond yields are steady with the 5-year Canada yielding 2.32% and the 10-year 3.12%. Gold is off $1.40 to US$1194.50/oz. Oil is down 36 cents to US$82.11/barrel. Have a great day.
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North American markets are climbing this morning after some better than expected economic data. The ADP employment report showed a larger than forecast increase in jobs last month, although Friday’s report from the Labor Dep’t will carry more clout. The ISM services-sector index climbed to 54.3 last month, beating economists forecasts of a small decline. A figure over 50 signals expansion in the sector. European equities rallied overnight with the German DAX now just just 0.2% shy its 2010 high. The TSX is up 58 pts. The Dow is up 29 pts. The Canadian dollar is strong as oil and other commodities continue to climb, up another half-cent to US$.9815 this morning. Bond yields rose after the US economic data, to 2.31% for the 5-year Canada and 3.15% for the ten. Oil is up 17 cents to US$82.72/barrel. Gold is showing some signs of life, up $15.30 to US$1202.80/oz. Have a great day
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Global equity markets kicked off the new month in fine form yesterday after manufacturing in the US expanded at a faster rate than forecast and the stream of profit announcements continues to exceed estimates. Asian markets closed at an 11-week high overnight, while the S&P500 and the Dow both smashed through their 200-day moving averages with gains of over 2%. The TSX is playing catch-up this morning with every sector safely on higher ground. Energy is having the biggest impact as oil climbed to a three-month high. The price of copper (also known as Dr. Copper, the metal with a Ph.D in economics) has now climbed in nine of the past ten days to its highest level since April. The key data points this week will be Friday’s employment reports from both sides of the border. Any weakness in the US figure could prompt further stimulus from Bernanke & Co. in the form of quantitative easing. The TSX is up 157 pts. The Dow is flat. The Canadian dollar is strengthening along with commodity prices, up another half-cent this morning to US$.9772. The five-year Canada bond yields 2.24% and the ten year 3.10%. Gold is up $5.10 to US$1190.50/oz. Oil is up 92 cents to US$82.26/barrel. Have a great day
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North American markets opened higher this morning amid decent profit reports from around the globe. Oil giant Exxon joined the list of companies beating estimates this morning, along with the likes of AstraZeneca, Royal Dutch Shell, Siemens and Sony who reported solid results overnight. Earnings season for Canadian companies is hitting its stride, with resource companies Potash, Barrick, Goldcorp, and Suncor all posting impressive earnings growth. Cenovus, the oil sands unit spun off from Encana, missed the mark this morning. Over 80% of S&P500 listed companies and over 70% of companies in the MSCI World index have reported better than expected results this season, and given that tomorrow is month-end we will likely see the best monthly performance for North American stocks in over a year. The TSX is up 63 pts. The Dow is up 57 pts.
The Canadian dollar is retracing some of yesterdays decline, up a quarter penny to US$.9655. Bond yields have taken a step back to 2.37% for the 5-year Canada and 3.18% for the ten. Gold is up $1.80 to US$1162.20/oz. Oil is up $1.11 to US$78.10/barrel.
Have a great day.
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Asian markets rallied sharply overnight to a ten-week high after Canon beat estimates and after the Chinese central bank reaffirmed the state of the country’s economic fundamentals. The buying pressure has not spilled into North America, in fact we’ve got a bit of a yawner this morning with prices of most things largely unchanged. Enbridge and CP Rail beat estimates this morning, while Teck Resources announced decent revenue growth but missed on the net income side. The company has now fully repaid the US$9.8 billion it borrowed to acquire Fording Coal in 2008. Capital goods orders in the US climbed in June (excl. aircraft) as businesses continue to invest in equipment. The TSX is down 34 pts. The Dow is down 27 pts. The Canadian dollar is flat at US$.9650 despite weakness in crude prices. The bond market is also quiet with the 5-year Canada yield unchanged at 2.47% and the 10-year at 3.26%. Oil is down $1.14 to US$76.31/barrel. Gold is up a buck to US$1159.00/oz. Have a great day
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A decline in the price of gold is dragging the TSX lower this morning, while US stocks are being buoyed by the continuing parade of positive earnings. Companies such as DuPont, Lockheed Martin and Lexmark reported better than expected profits before the open, following on the heels of European banking giants UBS and Deutsche Bank who reported solid results overnight. North American banks are benefiting from the earnings improvement overseas. Home prices in the US climbed 4.6% in May from year-ago levels, the largest increase since 2006 but partially influenced by the since-expired tax credit. India’s central bank raised interest rates by 50 bps overnight, the fourth hike this year as they try to reign in inflation. The TSX is down 57 pts. The Dow is off 17 pts. The Canadian dollar is giving back some recent gains, slipping a quarter cent to US$.9665 as the price of crude declines. Bond yields are climbing with the 5-year Canada yield up to 2.47% and the 10-year to 3.26%. Gold is down $21.50 to US$1161.60/oz, about a three-month low. Oil is off $1.56 to US$77.42/barrel. Have a great day
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North American markets are building on last week’s gains with the Dow now back in the black for the year and the TSX within a stone’s throw. A positive surprise in US new home purchases is helping boost optimism, along with FedEx’s improved earnings outlook as shipping volumes pick up. Not much in the way of economic data on tap this week, but earnings season is getting hotter with a host of Canadian companies scheduled to report. Teck Resources and Talisman are out tomorrow, followed by CP Rail, Enbridge, Canadian Oil Sands and Potash (among others) due through the balance of the week. Telecom companies are strong this morning with Rogers, Bell Canada and Telus all hitting new 52-week highs. The TSX is up 15 pts. The Dow is up 64 pts. The Canadian dollar is climbing along with the equity markets, up another half cent to US$.9699 this morning. Bond yields are a touch higher at 2..45% for the 5-year Canada and 3.23% for the ten. Oil is up 12 cents to US$79.10/barrel. Gold continues to weaken, down $5.90 to US$1181.90/oz. Have a great day
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A barrage of positive economic and profit reports fuelled an impressive rally in North American markets yesterday. Indexes are quietly building on those gains this morning as the earnings parade continues. A better than expected manufacturing report out of Germany yesterday certainly helped, as did German business confidence released overnight which posted its largest gain since the country’s reunification. Second quarter GDP growth in the UK was double expectations. Microsoft released results after yesterdays close, beating results with record quarterly revenue but failing to inspire much of a move in its share price. Ford clobbered expectations, posting its best first half since 1998. Verizon and McDonalds also exceeded forecasts, while Amazon missed the mark. CN Rail topped estimates yesterday, pushing its shares to within a hair of the 52-week high. We’re about a third of the way through earnings season in the US, with an impressive 85% of companies exceeding estimates. The Shanghai index, which many consider a bellweather for global markets, has climbed almost 10% in the last three weeks after an 11-month slide. Results of European bank stress-tests are expected later today which is weighing on markets. The TSX is up 8 pts. The Dow is up 19 pts. The Canadian dollar is unchanged at US$.9622 this morning. Bond yields are a touch higher at 2.41% for the 5-year Canada and 3.20% for the ten. Gold is down $5.40 to US$1190.30/oz. Oil is off 56 cents to US$78.74/barrel. Have a great weekend.
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North American markets staged a dramatic turnaround yesterday, finishing the day in positive territory after opening deep in the red. We’re bobbing around the break-even point this morning on a mixed bag of earnings announcements. Apple reported blockbuster results after yesterday’s close, while Yahoo! and Gilead Sciences missed revenue estimates. Reports from Coca-Cola, Wells Fargo, Morgan Stanley and Freeport McMoran this morning have been positive with better than expected profits and revenues across the board. E-Bay and Starbucks are due to release their quarterly results after the close. Canadian natural gas giant EnCana missed the mark this morning and is pulling the Canadian index lower. The TSX is down 26 pts. The Dow is up 9 pts. The Canadian dollar advanced another quarter-cent to US$.9598, largely due to strengthening commodity prices. Bond yields climbed along with markets yesterday, but have taken a step back this morning to 2.36% for the 5-year Canada and 3.18% for the ten. Oil touched a three week high this morning before settling back to US$77.10/barrel. Gold is up $1.80 to US$1193.50/oz. Have a great day.
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Materials and Energy are leading the TSX index higher this morning, while US markets are rather soft after a series of misses on the quarterly revenue front. Last nights results from IBM and Texas Instruments failed to inspire as both showed decent profit growth but lower than expected revenues, followed by lacklustre results from Goldman Sachs and Johnson & Johnson this morning. That said, of the 42 companies from the S&P500 that have so far reported results, 33 have beaten profit forecasts and 27 have beaten revenue estimates. Apple’s results are due after the bell, and the market is expecting profits to double from year-ago levels. Asian markets gained overnight with the Shanghai exchange posting its best back-to-back daily performance since May and bringing its gain to 10% since just July 5th. Part of the reason is reports that the country will ease some of the restrictive economic policies adopted in recent months, which is also the driving force behind the outperformance of the TSX today. The Bank of Canada raised its policy rate by 25 bps this morning to a still meagre 0.75%, at the same time signalling the pace of interest rate hikes may slow. The TSX is up 41 pts. The Dow is off 49 pts. The Canadian dollar is up slightly to US$.9517 on the rate increase, but gains are being limited by the tentative language in the BoC’s release. Bond yields declined after the announcement with the 5-year yield down to 2.33% and the 10-year to 3.13%. Gold is up $10.50 to US$1192.60/oz. Oil is up 78 cents to US$77.32/barrel. Of interest, the International Energy Agency reported that China has now passed the United States as the worlds largest consumer of energy in the form of crude, natural gas, coal, nuclear power and renewable resources. Have a great day
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The gold sector is leading the TSX index lower this morning as the price of the metal approaches a two-month low, while US indexes are trading around the break even point as earnings season gets into full swing. Oilfield services giant Halliburton kicked things off with better than expected profits, while tech heavyweights IBM and Texas Instruments are expected to report later today. It’s very early in the season, but of the 25 companies in the S&P500 that have so far reported profits, all but three have beaten expectations. The Bank of Canada will announce its interest rate policy tomorrow with the market expecting another 25 bps hike and a continuing cautious tone. The TSX is down 83 pts. The Dow is up 14 pts. The Canadian dollar is up just 7 bps this morning to US$.9489 despite a decent gain in oil prices. The five year Canada bond yields 2.39% and the 10-year 3.17%. Gold is off $8.60 to US$1179.60/oz. Oil is up $1.09 to US$77.10/barrel. Have a great day
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The screen is green this morning after Alcoa kicked off earnings season with better than expected profits, revenues, and raised their outlook for Aluminum demand. Helping matters was a successful T-Bill auction from Greece which garnered excess demand and pushed the yield on the notes below 5% for the first time this year. European stocks climbed for the sixth consecutive day. Canada unexpectedly posted a trade deficit May, while the US deficit widened as growth in imports outpaced exports in both countries. Both imports and exports in the US climbed to their highest levels since 2008. Shares of Alimentation Couche-Tard, the largest independent convenience store operator in North America, are rallying after reporting impressive growth in profits last quarter. Intel reports results after the bell today. The TSX is up 110 pts. The Dow is up 135 pts. The Canadian dollar is up two-thirds of a cent to US$.9705 as commodities climb on renewed economic optimism. Bond yields are up to 2.56% for the 5-year Canada and 3.26% for the ten. Gold is up $16.50 to US$1215.20/oz. Oil is up $2.04 to US$76.99/barrel. Have a great day.
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