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Purchase plus improvements transactions allow the purchasers to finance the costs of immediate renovations or improvements through the mortgage loan by using the “Estimated Market Value”.

Bank of Canada increased the overnight lending rate today 25 basis points, up from 0.25. In doing so, Canada became the first G8 nation to raise rates after an aggressive round of cuts at the start of the recession in 2008, and after most developed economies showed signs of rebounding in 2009.Last Updated: Tuesday, June 1, 2010 | 9:11 AM ET T CBC News

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