Bank of Canada rate comments decidedly neutral
Posted on December 6, 2011
The Bank of Canada, as widely expected, has again maintained its benchmark overnight rate at....
Canada Mortgage News
Canadian Mortgage News That Affects You
Forget Greece. Italy is the new focus of eurozone debt worries
Posted on November 7, 2011
Italy's borrowing rates spiked to a euro-era high on Monday......
Banks that pay and perform
Posted on November 2, 2011
Income (in the form of dividends) and growth (in the form of capital gains) are the two main motivations for buying stocks.
Toronto’s condo boom about to bust: report
Posted on October 18, 2011
The Toronto condo market appears to be overheating....
Greece will get bailout loans, avoid default: Finance minister
Posted on September 27, 2011
ATHENS—Greece will receive the next batch of bailout loans in time to avoid a disastrous default...
Central banks to the rescue
Posted on September 15, 2011
The European Central Bank said Thursday that it, alongside other central banks, will lend dollars to euro-area banks in ...
German banks could be next hit by debt crisis
Posted on September 14, 2011
Credit rating agency Standard & Poor’s warned a widening of the European debt crisis could have severe consequences for German banks.
Canada’s employment outlook down, but still steady
Posted on September 13, 2011
Canada's employment outlook will get a little bleaker to close out the year, but there is still enough positive sentiment for a steady hiring climate...
Flaherty urges Greece to do whatever it takes
Posted on September 12, 2011
Greece and other advanced economies need the political will to implement unpopular budget cuts, Canadian Finance Minister Jim Flaherty said on Monday...
Interest rate hikes a long way off
Posted on September 8, 2011
Faced with an increasingly bleak global economic picture, Bank of Canada Governor Mark Carney has pulled back from his oft-repeated
Last-minute thoughts on the Bank of Canada
Posted on September 7, 2011
With the Bank of Canada’s policy announcement set for 9 a.m. ET, economists are making their predictions for what to expect
Rogers applies to open bank
Posted on September 6, 2011
Telecom giant Rogers Communications Inc. has applied to form a bank under terms of the federal Bank Act.
Canadian housing prices continue to rise
Posted on August 31, 2011
Canada’s economy may have hit the skids in June but house prices across the country still jumped almost 2%, the biggest one-month increase in two years
Bank of Nova Scotia profit soars
Posted on August 30, 2011
Boosted by higher residential mortgages in Canada and strong lending growth internationally, Bank of Nova Scotia reported an 18% jump in third-quarter profit.
Did CMHC support risky borrowing?
Posted on August 30, 2011
In compliance with new federal rules, the Canada Mortgage and Housing Corp. on Monday published its first set of quarterly results, something industry observers say is a good thing.
House Prices to remain Stable through 2011 and then rise in 2012 CMHC
Posted on August 25, 2011
House prices will remain stable through 2011, then rise in 2012: CMHC
Housing Correction Won't Happen, because Canada doesn't Need One
Posted on August 25, 2011
Signs point to a severe housing correction in Canada
Posted on April 11, 2011
The resilience of the Canadian housing market has confounded experts. While other property markets
Younger Canadians intent on buying homes -- next year
Posted on April 8, 2011
Canadians younger than 35 are most intent on buying a home over the next two years, according to a survey released Thursday
Canada to lead growth, says OECD
Posted on April 5, 2011
Canada is set to lead all Group of Seven countries in real GDP growth in the first half of 2011
TD boosting mortgage rates
Posted on April 4, 2011
TD Canada Trust (TD-T86.220.320.37%) is raising most of its fixed-term mortgage rates, a move that reflects the bank's increased cost of funds on bond markets
One in five Canadians eyeing U.S. housing market
Posted on April 1, 2011
So what is the reaction of many Canadians to their American neighbours’ misfortune?
Economy expands 0.5 per cent in January
Posted on March 31, 2011
Canada's economy continued its strong pace of growth at the start of the year, led by the manufacturing sector, and matching economists' forecasts.
People in Alberta are the most interested in buying residential property in the United States ..
Posted on March 28, 2011
Calgarian Tanya Eklund is one of many Albertans who have capitalized on low priced homes for sale...
Interest rate hike moves to back burner
Posted on March 25, 2011
The Bank of Canada is almost certain to wait until the latter half of this year to raise interest rates, now that an election is in the offing.
For U.S. housing, a new collapse
Posted on March 24, 2011
Five years ago, the housing market in Naples was pegged as the country’s most overvalued, with single-family homes estimated to cost 85% more than they should. Now, one in three of those homes sits vacant, a testament to how deep the housing crisis runs in the United States and a signal that a recovery in real estate may not be in reach after all.
Why it's a great time to buy Real Estate in the USA
Posted on March 14, 2011
Barry Brawn of Ontario closed on a “gorgeous property” on the water in Port Charlotte, Fla., in October 2010. He believes Florida is “at or close to the bottom” right now. Hugh Wakeham, owner of Toronto-based Wakeham & Associates Marketing, and his partner bought a home in Palm Springs, Calif., in 2007. “The prices had come down 15% from the peak and we thought we were getting a great deal,” he says. “But it’s since come down another 25%.”
RBC says; Economy will grow 3.2% in 2011
Posted on March 14, 2011
It also predicts the Bank of Canada will increase overnight interest rates to two per cent by the end of the year. That would be a full percentage point higher than the central bank's current policy rate.
Canadian Mortgage and Housing Corp. (CMHC) reports a 6% increase in housing starts.
Posted on March 9, 2011
This report comes 3 weeks after Canadian Mortgage and Housing Corporation (CMHA) forecasted increases in housing starts for 2011 and 2012. Canada’s national housing agency predicted total starts nationwide this year could reach levels as high as 192,200, and they predicted housing starts in 2012 of up to 211,200. Canadian Mortgage and Housing Corp. (CMHC) predicted housing these starts would be “in line with long-term demographic fundamentals.”
No Hikes in Prime Rate until October: Bank of Nova Scotia
Posted on March 8, 2011
Scotiabank is just plain bearish on the U.S. currency, as the Federal Reserve continues to pump cash into the system and keep its benchmark rate near zero. But the bank also believes there is a chance the White House further extends stimulus measures agreed upon late last year as opposed to allowing them expire – likely earning a rebuke from bond raters and fixed-income investors as Washington’s fiscal status would deteriorate further. That, in turn, would make the U.S. dollar even less favourable and likely adds to the loonie’s strength. That could drive the loonie to as high as US1.08¢ by the end of 2011 — a full 12 cents above the most dovish view on the loonie, Scotia admits.
Banks Profitability the Lowest in 4 years
Posted on March 8, 2011
The spread between bond yields and the Bank of Canada’s index of five-year conventional mortgage rates shrank to 2.68 percentage points on March 4, from a recent high of about 5.15 in January 2009, according to data compiled by Bloomberg. The current spread means borrowers are paying about one-half of a percentage point less on a five-year fixed mortgage rate than they would otherwise if the gap was at its average.
Carney Holds Canadian Interest Rates
Posted on January 18, 2011
On the other hand, Pascal Gauthier, senior economist with TD Economics, predicted the bank is more likely to hold off until July before increasing rates while it waits for the U.S. Federal Reserve to finish its massive program of bond buying aimed at stimulating the American economy.
How will Flarety's rules affect the market.
Posted on January 17, 2011
Just a few days ago economists gushed that the Canadian housing market had achieved a soft-landing - cooling off without crashing and returning to relative normalcy after a year of explosive growth. That hasn't stopped the federal government from stepping in to make sure it stays that way. Changes to the mortgage rules - including a move to maximum 30-year amortizations instead of 35 years, and caps on home equity borrowing - will squeeze more marginal buyers out of the market
December Housing Starts Suggest a slowdown for Atlantic Canada?
Posted on January 13, 2011
While MacDonald said most Atlantic provinces posted year-to-year gains for housing starts, declines were still seen in the month of December. St. John's saw a decline in housing starts in December 2010 compared to the same month the previous year, and Halifax saw no change. Prince Edward Island saw an increase in housing starts in December over the same period of the previous year.
Banks won't impose own tighter mortgage rules: TD
Posted on December 17, 2010
Canadian banks are not likely to impose stricter mortgage qualifying rules on their own to curb the nation’s rising household debt, TD chief executive officer Ed Clark told The Globe and Mail.
Barrie’s economy on the mend
Posted on December 13, 2010
In its quarterly housing market outlook, CMHC notes the first half of 2010 showed relatively strong home sales, as first-time buyers took advantage of low mortgage rates in late 2009 and early 2010. That market segment, however, began drying up in the summer.
Housing Starts decline in Calgary, along with the rest of the country
Posted on December 13, 2010
CALGARY - The Conference Board of Canada predicts widespread housing starts declines over the short term across the country, including Calgary
Metro Vancouver housing starts rise sharply over 2009, CMHC says.
Posted on December 13, 2010
“Last year we had a hard year for housing starts and came within a whisker of the worst year since the ‘60s,” Simpson said in an interview. “This year, there’s been a steady improvement. It’s a good result. Consumers got more confident and builders decided to go ahead with their plans.”
Bank of Canada Seen Hiking Interest Rates Early 2011
Posted on December 2, 2010
TORONTO - The Bank of Canada is unanimously expected to keep interest rates on hold next week, but the uneven economic recovery has primary dealers and global forecasters divided on the timing of the next hike in 2011.
Rising Mortgage Rates Will Increase Cost of Homeownership
Posted on November 30, 2010
Canadian fixed-rate mortgages spiked up in the spring, but have since seen a steady decline, helping increase affordability for home buyers this year. Even the Bank of Canada, which raised its key rate and with it variable rate mortgages and lines of credit, has put additional rate hikes on hold for now. But rates are expected to resume their march higher from near-record lows next year. That would increase the cost of borrowing money to buy, renovate or furnish a home.
Canadians debt getting worse; Transunion
Posted on November 30, 2010
Credit agency TransUnion says the amount Canadians owe continues to increase but the rate at which consumers are piling up debt is beginning to slow.
RBC says "Housing Affordability Improved"
Posted on November 29, 2010
Condos remained the most affordable type of housing track, requiring 27.8 per cent of pre-tax income to cover mortgages, taxes and utilities and one percentage point above the long-term average of 26.8 per cent.
Government borrowing, improved economy push mortgage rates higher
Posted on November 16, 2010
Improved investor confidence and increased government spending may be good for the overall economy but can be bad news for home buyers as bond yields rise and push up fixed mortgage rates.
Manitoba resale-homes market about to hit the gas: CMHC
Posted on November 16, 2010
Next year's price hike is expected to be a more modest 2.7 per cent, as an increase in new listings gives buyers more properties to choose from and relieves some of the upward pressure on prices, the CMHC outlook said.
Bank of Canada holds rate at 1%
Posted on October 19, 2010
We judge they will remain on hold until May, 2011
TD Bank changes its mortgage program to benefit themselves!
Posted on October 12, 2010
TD Bank is revamping its mortgage program, making it easier for homeowners to tap into their equity and harder for them to switch to another lender when their mortgages come up for renewal. At the heart of the overhaul is a switch to collateral-charge mortgages, which are similar to lines of credit. The bank is encouraging employees to approve customers at 125 per cent of a home’s actual value under certain circumstances, so the homeowner can easily borrow more money if their property increases in value
$100,000 of Credit Card debt to $0
Posted on September 24, 2010
The credit cards aren't the problem. We're the problem. One of the reasons that credit card debt is so difficult for people to manage is that you use credit cards more frequently than you use any other credit or any other loan. Every single day, every single hour, you have an opportunity to use credit cards. Obviously there are much bigger levels of debt, but that mortgage comes and goes. It's once a month, and for the most part, you're not adding to it. The balance should be going down, just like installment debt - student loans, car loans, for example.
Weekly Mortgage and Interest Rate Update
Posted on September 23, 2010
Most notably, record levels of household indebtedness, which drove high levels of consumer spending in the past nine months, will now put downward pressure on spending as households become more cautious.
Stats Canada Interest Rate Update
Posted on September 23, 2010
Prices in the household operations, furnishings and equipment component were up 1.9% in August compared with the same month last year. Higher prices were recorded for telephone services, child care and domestic services, as well as pet food and supplies. Prices for furniture, household textiles and household appliances fell.
Find a Mortgage Broker/Mortgage Agent in Halifax
Posted on September 7, 2010
So once you've found the home, you need to find a mortgage, and the ask a mortgage pro site features some of the most talented and advise driven mortgage brokers/mortgage agents in Canada. The Halifax mortgage agent and Halifax mortgage broker is just a click away
Buying guide to condos on Vancouver Island
Posted on September 7, 2010
"Many of the problems new condo buyers experience are a result of lack of information about condo living. We have prepared a brochure to help potential buyers make informed decisions."
One in Ten Mortgages Face Foreclosure in America
Posted on August 26, 2010
One in 10 American households with a mortgage was at risk of foreclosure this summer as the government's efforts to help have had little impact stemming the housing crisis.
Ask A Mortgage Pro Press Release. Mortgage Agent Website
Posted on August 26, 2010
The Ask a Mortgage Pro website has several CMS Content Management System modules that facilitate brokers and agents to register and create profiles. This CMS facilitates the requirement based on Ask A Mortgage Pro’s vision for coast to coast presence of mortgage professionals on their website. A CMS was also structured that allowed the addition of Lawyers profiles. Legal partners can now register and sign into the system and can create a profile for end users to see.
Mortgage Agents in Calgary Alberta
Posted on August 26, 2010
Calgary, Alberta mortgage brokers are one part of this national program aimed at giving sound professional service from the mortgage professionals in the Canadian Mortgage Industry.
Yahoo! Personal Finance - "Buying your first home"
Posted on August 17, 2010
Home ownership is the cornerstone of the North American Dream. But before you start looking, there are a number of things you need to consider. First, you should determine what your needs are and whether owning your own home will meet those needs. Do you picture yourself mowing the lawn on Saturday, or leaving your urban condo for the beach? The best advice is to look at buying a home as a lifestyle investment, and only secondly as a financial investment
Paying Down Debt Makes Sence
Posted on August 10, 2010
Having a 'road map' for your debt is a key to wealth management, and having a mortgage agent sit down and help you write your own personal plan is a key ingredient to the health of your wealth!
Bank of Canada Monetary Policy Report
Posted on August 5, 2010
The global economic recovery is proceeding but is not yet self-sustaining.Greater emphasis on balance sheet repair by households, banks, and governments in a number of advanced economies is expected to temper the pace of global growth relative to the Bank’s outlook in April. While the policy response to the European sovereign debt crisis has reduced the risk of an adverse outcome and increased the prospect of sustainable long-term growth, it is expected to slow the global recovery over the projection horizon. In the United States, private demand is picking up but remains uneven.
CMHC - June Housing Starts
Posted on July 20, 2010
OTTAWA, July 9, 2010 — The seasonally adjusted annual rate1 of housing starts was 189,300 units in June, according to Canada Mortgage and Housing Corporation (CMHC). Seasonally adjusted annual rate estimates of housing start activity were also revised up for April and May2.
The Rate Increase Cycle Begins
Posted on July 18, 2010
For 13 months, Canadians have enjoyed the lowest interest rates of all time. But the party had to end eventually. Today was that day, as the Bank of Canada (BoC) raised its key lending rate by 0.25 percentage points. If lenders raise prime rate by 1/4 point, as expected, homeowners with variable mortgage payments will see roughly $12 of monthly payment increase per $100,000 of mortgage.