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August 1, 2010
1 Year Closed : 2.54 %
3 Year Closed : 3.50 %
5 Year Closed : 3.89 %
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Mortgage Blog


BIG BANKS RAISE MORTGAGE RATES
By Sunny Freeman, The Canadian Press ADVERTISEMENT TORONTO - Three of Canada's biggest banks are increasing some of their residential mortgage rates effective Tuesday in the latest sign that consumers should prepare for ...
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NO GST ON FINANCIAL SERVICES
Globe and Mail Update Published on Friday, Mar. 26, 2010 7:39PM EDT Last updated on Saturday, Mar. 27,2010 3:12AM EDT Finance Minister Jim Flaherty has pledged to not impose any additional GST on financial services, suggesting that a rule cha ...
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FURTHER CLARIFICATION OF LENDING CHANGES
Good morning, all,   Let me start by saying I hope you all made it out the Home Show at Evergreen this last weekend - it was great!  So many neat booths this year for anything from home reno products, builders, realtors, financial, gadget ...
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LENDING POLICY CHANGES APRIL 19
  Confused about the recently announced changes to mortgage lending?  Many people are.  Below, a brekdown of each change, it's reasoning, and the effect it will have on your ability to obtain mortgage financing.  As ...
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Bank Maintains Overnight Rate - March 2, 2010
  Good morning,   Great news for prime rate - the BoC has maintained overnight target of 2.25%.  Heads up - there is still word that it will be increased in the second quarter.   Have a read below!   Regards,   ...
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NORTH AMERICAN AND INTERNATIONAL ECONOMIC HIGHLIGHTS
  Good afternoon, and happy Friday!    Well, for all of you that have been waiting for an economic forecast, this is the closest it gets.  Benjamin Tal is, in my opinion, an excellent economist.  I've heard him speak ...
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FINANCE MINISTER CRACKS DOWN ON SPECULATORS, TIGHTENS MORTGAGE RULES
  Good morning, As anticipated by some last week, some pretty important changes were announced this morning on the mortgage front - take a minute to read the full article below.  Have a great week,   Sarah Finance m ...
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Canada Eyes Stricter Rules for Mortgages
Well, I know this talk's been coming.  January 5th this year was the first spot of discussion the Canadian Government sparked over considering the reduction of mortgage amortizations and raising the dowpayment amount required to pu ...
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An interest rate hike this summer?
Globe & Mail - by David Rosenberg Don't count on it. For the Bank of Canada to raise rates before the middle part of 2011 would be totally inconsistent with its current forecastCanadian market watchers will get some good news this week. The p ...
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Bank Lowers Slightly Growth Forecast for 2009 and 2010, But Keeps Interest Rates Unchanged
Good morning everyone!   Having a good week?  Hope so.  I'm down here in sunny Vancouver for a few days, but wanted to pass along some good news this morning - the Bank of Canada maintained prime rate overnight.  I have atta ...
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How Your Mortgage Can Set You Free of Other Debt
Good morning, everyone, and happy Friday.   Hope everyone has had a great first week of 2010! I know usually this month is inheritently slow in our industry, but our office has been extremely busy - a great sign of the market slowly returning. ...
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Canadians May Require Higher Downpayments
  "Canadians May Require Higher Downpayments".  Do I have your attention?  haha.   Please have a read - thought it pertinent to both first time purchasers, investors and current homeowners alike.  We'll have to see the ...
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RAPID REBOUND FUELS FEARS OF HOUSING BUBBLE
Good afternoon!   About time for a newsletter, no?  Not much to report as of late, but wanted to pass this article along to you.  In agreeance or not, it is an interesting read.  This has been a rollercoaster year as far as real ...
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RATE FORECASTS AND MORTGAGE RENEWALS
  Good morning, All, Hope everyone had a great weekend!  Just wanted to pass this article your way - a forecast of sorts for next year's rates......  looks like things are going the way we thought they would.  Is your mortga ...
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BANK OF CANADA MAINTAINS OVERNIGHT RATE TARGET AT 1/4 PERCENT
Good afternoon,   Hope this reaches everyone well.    This week's news was much anticipated - the Bank of Canada's quarterly review.  It seems they have decided to honour their commitment to keep prime rate where it i ...
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Conference Board sees 4% bank rate in 2 years
The Conference Board of Canada said Friday (October 16, 2009) it expects the Canadian economy will grow 2.9 per cent in 2010 and the Bank of Canada will raise its target for the bank rate to four per cent by 2011.The rate is now 0.25 per cent and Ban ...
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There are Many Variables in a Variable Rate
Good afternoon, Everyone,   Hope you're having an excellent Monday.  No newsletter last week, as there was little report, but this week I bring you a school of thought on the variable interest rate.  I know it is a tough decision ...
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IMPP Expected to Continue
Last fall, when the credit markets were in near-panic mode, the government threw lenders a lifeline called the IMPP (Insured Mortgage Purchase Program). The IMPP allowed the government to buy up to $125 billion of insured mortgages.  The g ...
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THE GLOBAL RECESSION IS HISTORY?
So now, according to the latest interpretation of the latest numbers, the Canadian branch of the Great Recession is more or less officially over. The recession en ...
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A 700 Credit Score Doesn't = Good Credit
There's more to a credit report than a score. You can have good income and a 700 credit score (which is about average) and still not qualify for a mortgage.  The reason is that lenders generally look for one key factor: repayment histo ...
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WITH MORTGAGE RATES DROPPING, IT'S STRATEGY TIME
With Mortgage Rates Dropping, It's Strategy Time   It was a little less than a year ago that the global financial crisis began to hit home, which is to say that mortgage rates spiked highe ...
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UNEASINESS MARKS HOUSING REBOUND
Hello All!   I hope you all had a wonderful Canada Day - a little chilly yes, but alot of neat festivities in Muskoseepi Park throughout the day, and some great fireworks the previous night.  Now back to the grind!   This week' ...
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Boring But Effective
That's how a recent IMF paper characterized Canada's mortgage market. Among other things, it compared Canadian and American mortgages and listed several key differences.  Here are the big ones: US mortgages typically don't h ...
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BRIDGE FINANCING - KNOW HOW TO CROSS THE BRIDGE AHEAD OF TIME
  Good morning, All!   Well, if you didn't come to the Canadian Homefind seminar last night, let me tell you - you missed out!  We had a great seminar, lots of free information, and lots of great people attend.  I wante ...
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Approval - Now and Then
Hello again!   Another writeup provided at Canadian Homefind's seminar is attached - this time on Mortgage Preapproval.  Many buyers don't realize the importance of your financial picture remaining the same throughout a home sale/ ...
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