Loonie at lowest value since mid-2004, index futures point to lower stock markets + MORE Sep 24th

WASHINGTON – Average long-term U.S. mortgage rates declined this week following the Federal Reserve’s decision to keep interest rates at record lows for now.
Mortgage giant Freddie Mac says the average rate on a 30-year fixed-rate mortgage fell to 3.86 per cent from 3.91 per cent a week earlier. The rate on 15-year fixed-rate mortgages eased to 3.08 per cent from 3.11 per cent.
Rates have stayed below 4 per cent for nine straight weeks.
Fed policymakers announced last Thursday they had decided to keep a key interest rate close to zero in the face of threats from a weak global economy, persistently low inflation and unstable financial markets. But Fed Chair Janet Yellen said a rate hike was still likely this year. A rate hike by the Fed could bring higher rates for home loans.
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RioCan to pay $715-million to buy Kimco’s stake in 22 properties and assume existing debt

Our equities analyst looks ahead to the investment day

TORONTO – The Canadian dollar slipped close to a fresh 11-year low as U.S. stock markets futures pointed to another decline.
Loonie was down 0.20 of a U.S. cent before North American markets opened, dropping to 74.72 cents US — the lowest since the summer of 2004.
The Dow Jones industrial futures were down 148 points at 16,039.0, the S&P 500 futures declined 15.5 points to 1,913.10 and the Nasdaq futures lost 46.30 points to 4,216.50.
On the commodity markets, the December gold contract rose $5.70 to US$1,137.20 an ounce, the November crude contract was down 23 cents at US$44.25 a barrel and the November contract for natural gas was unchanged at US$2.63.
On Wednesday, the S&P/TSX index in Toronto ended the day down 107.40 points at 13,383.69 after tumbling 288.35 points on Tuesday.
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Q: Given the current increase in contribution limits to TFSAs, does it make sense to borrow to maximize my TFSA while I can? I am concerned that a change in government might result in the increase in investment limits being lost. —Mike Dupuis, Alliston, Ont.
A: With the increase to the annual TFSA contribution going from $5,500 to $10,000, you now have a total contribution limit, as of 2015, of $41,000. Even if the Conservatives fail to get re-elected, I can’t imagine that this number will change. It would be a massively unpopular move to change it retroactively, and very difficult to pull off given how many Canadians have already contributed up to the new limit. Sure, a new government could easily reverse the limit increase for subsequent years—and the Liberals have promised that they will do so—but that wouldn’t impact the room you have already built up. As for the idea of borrowing to invest, there certainly are benefits and risks associated with borrowing, including interest deductibility, leverage, and the discipline required to pay back the loan…