Home Values To Fall – Vancouver - 07/22/11 07:48 PM
Are house prices in Canada on the decline?
TD thinks so…
Or at least a “moderate correction”
The average price of a resale home in Canada will fall by more than 10 per cent over the next couple of years, an analysis by TD Economics predicted Wednesday.
Calling it a “moderate correction,” the report’s authors also say sales will decline by more than 15 per cent over the same period.
“A combination of more subdued job and household income growth, rising interest rates, the recent tightening in borrowing rules for insured mortgages and fewer first time home buyers are expected to … (0 comments)

CMHC Finally Gets A Babysitter – Vancouver - 07/22/11 07:45 PM
Apparently, the finance ministry’s legal oversight of the pink elephant, aka CMHC, was long overdue…
In March, Maclean’s warned that the Canada Mortgage and Housing Corporation, the quasi-governmental insurer that underwrites $500 billion of residential mortgages, answers to no one—not Canada’s top financial regulator or even the minister of finance. That all quietly changed last month when Ottawa passed a law that puts the CMHC strictly under the watchful gaze of both the finance minister and the Office of the Superintendent of Financial Institutions (OSFI).
With the new law, CMHC must hand over “prescribed books, records and information” and make those … (1 comments)

How Long Does Negative Info Stay On My Credit Bureau? - 07/10/11 12:41 PM
You may be surprised to learn how long certain information, actually stays on your credit bureau.
As you probably know, credit is one the most important factors in the mortgage approval process.
The length of time that information must stay in your report depends on: the province or territory where you live, and the type of information
The following charts illustrates how long it takes before negative credit information is removed from your credit report by Equifax.

 
The unfortunate fact about the info above is the small print that says ‘from the date paid or last activity’.
As soon … (2 comments)