First Foundation’s Best Rates to Open the Week:
1 Year 2.89%
2 Year 3.05%
3 Year 2.99%
4 Year 3.29%
5 Year 3.15%
7 Year 3.99%
10 Year 3.89%
ARM / Variable 2.85%
Line of Credit 3.50%
Qualifying Rate 5.44%
The Toronto stock market tumbled Wednesday amid growing worries about Spain’s banking sector and the future of tech giant and maker of Blackberry products, Research in Motion Ltd.
The S&P/TSX composite index retreated 163.31 points to 11,445.98 while the TSX Venture Exchange was down 18.39 points to 1,290.95
Canadian home prices rose in April for the second straight month, with prices up from March in nine of 11 metropolitan markets, the Teranet-National Bank Composite House Price Index showed on Wednesday, although the pace of growth continued to slow on a yearly basis.
The index, which measures price changes for repeat sales of single-family homes, showed overall prices climbed 0.8 percent in April from a month earlier and a 0.5 percent gain in March, following a period of three declines in four months.
The data showed the gains were most notable in Halifax, Edmonton, Winnipeg and Calgary.