SPECIAL EDITION – May 31, 2012: Heightened Fears and Concerns

May 31, 2012 under Tony's Latest Updates
SPECIAL EDITION – May 31, 2012 Heightened Fears and Concerns The crisis in the Eurozone has renewed fears over the risk of the industrialized economies slipping into another recession. Investors and their money have been heading for the exits, and the safety of Canada’s bonds has resulted in an increase in demand pushing yields to record lows. The result has once again pushed fixed mortgage rates down
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Foreclosures made up 26% of U.S. home sales in first quarter

By Jessica Dickler @CNNMoney May 31, 2012: 5:13 AM ET NEW YORK (CNNMoney) — Homes in some stage of foreclosure accounted for more than one in four home sales during the first three months of the year, according to a report released Thursday. Distressed properties that were either in default, scheduled for auction or bank-owned accounted for 26% of all residential sales during the first quarter, up from 22% in
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U.S. 10-year yield sinks to record low

May 30, 2012 under Useful Articles
By Hibah Yousuf @CNNMoneyInvest May 30, 2012: 10:53 AM ET NEW YORK (CNNMoney) — Investors flocked to the safety of U.S. Treasuries on Wednesday, pushing the yield on the benchmark 10-year note to a new record low. The yield on the 10-year note fell to a low of 1.647% early Wednesday. Worries about a deepening debt crisis in Europe and contagion threats have spooked investors on both sides of the Atlantic. Inv
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Investors flee Spain as banking fears deepen, Greeks warned of catastrophe

May 30, 2012 under Useful Articles
Jan Strupczewski and Julien Toyer, Reuters  May 30, 2012 – 7:28 AM ET | Last Updated: May 30, 2012 11:35 AM ET BRUSSELS/MADRID — The European Commission threw Spain, the latest frontline in Europe’s debt war, two potential lifelines on Wednesday, offering more time to reduce its budget deficit and direct aid from a eurozone rescue fund to recapitalise distressed banks. Spanish government bor
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Is another round of mortgage wars on the way?

May 29, 2012 under Home Buyer Resources
John Greenwood  May 28, 2012 – 6:19 PM ET | Last Updated: May 29, 2012 7:45 AM ET Renewed concern around the crisis in the eurozone has investors heading for the exits, and once again Canada is emerging as one of the biggest beneficiaries with rising demand pushing yields on even corporate bonds close to record lows. But analysts warn the soaring popularity is a double-edged sword. Bank funding costs have
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Homeowners focus on renovations with the biggest returns

May 28, 2012 under Useful Articles
Julia Johnson  May 28, 2012 – 8:40 AM ET Fewer Canadians plan to make home renovations this year compared with last year, according to an annual survey by the Bank of Montreal released Monday. BMO said 51% of Canadians polled had home upgrade plans for 2012, a decrease of 11 percentage points from 62% in 2011. The bank said the drop is likely due to Canadians being cautious about household debt. “Th
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World Bank warns of China slowdown

May 24, 2012 under Useful Articles
By Chris Isidore @CNNMoney May 23, 2012: 8:17 AM ET NEW YORK (CNNMoney) — The World Bank said a slowdown in China will drag on growth in the entire East Asia-Pacific region. The bank, an international organization that helps to fund projects in the developing world, said in a report released Wednesday that growth in the East Asia-Pacific region should slow to 7.6% this year from 8.2% in 2011 and 10% as recent
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European business activity falls to near three-year low

May 24, 2012 under Useful Articles
24 May 2012 Last updated at 06:04 ET – BBC © 2012 Activity at European businesses hit a near three-year low in May, according to a survey by Markit. Its index, based on a survey of purchasing managers in the manufacturing and service sector, fell to 45.9 in May, a 35-month low. In response, the euro fell to $1.2515 against the dollar, a 22-month low. A summit of European leaders on Wednesday evening failed
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Rising mortgage debt rendering ‘Canadian households stretched thin’: DBRS

May 24, 2012 under Useful Articles
Barry Critchley  May 24, 2012 – 10:00 AM ET | Last Updated: May 24, 2012 10:19 AM ET DBRS, the Canadian headquartered credit rating agency, has joined a long list of organizations that have weighed in on the matter of the Canadian residential housing market. Like many of those previous studies and against the background of concerns being raised by the federal government and the Bank of Canada, DBRS found
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BMO profit leap beats expectations

May 23, 2012 under Useful Articles
Julia Johnson  May 23, 2012 – 7:58 AM ET | Last Updated: May 23, 2012 10:24 AM ET BMO Financial Group reported a profit of $1.3-billion, or earnings per share of $1.51, in its second quarter of 2012, jumping 27% from the previous year. When stripping out one-time items, BMO Financial’s adjusted net income was $982-million, or $1.44 per share, in the three-month period ending April 30, 2012, rising
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