mortgage intelligence: Bank of Canada keeps overnight rate target at 3 per cent - 09/03/08 09:16 AM
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 1/4 per cent.
The three global developments highlighted in the July Monetary Policy Report Update … (0 comments)
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mortgage intelligence: Special Rate For Large Mortgages - 08/30/08 07:44 AM
For those looking to purchase a home or re-finance their current mortgage in Canada and will have a balance of over $500,000, you will qualify for a special 5 year fixed rate of 5.04% (full 20/20 pre-payment privileges allowed) - but only until Nov. 30th. For anyone looking for a mortgage … (0 comments)
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mortgage intelligence: Zero Down Mortgages Taken Away Without Much Thought! - 08/25/08 07:36 AM
When it was announced by the Federal Government that they would be stopping true zero down mortgages http://www.fin.gc.ca/news08/data/08-051_1e.html , I was amazed that the press did not dig a little deeper into the consequences of such a quick and what in my opinion is a not very well thought through decision.
… (0 comments)
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mortgage intelligence: Bank of Canada lowers overnight rate target by 1/2 percentage point to 3 per cent - 04/22/08 08:55 AM
OTTAWA - The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 3 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 1/4 per cent.
Growth in the global … (5 comments)
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mortgage intelligence: Because knowing more about mortgages can save you thousands of dollars - 04/14/08 08:00 PM
www.FreeMortgageReports.ca offers the Canadian Consumer access to all the information they need to you know about mortgages, because knowing more about mortgages can save you thousands of dollars.
Unlike some mortgage websites where they provide similar reports, only to harvest your name, phone number and email address, I am pleased to provide these mortgage reports free of charge … (0 comments)
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mortgage intelligence: Finance renovations or Purchase a home and make immediate improvements - 11/12/07 06:33 AM
Whether you do it to improve safety, save energy, add more comfort or simply to enjoy a fresh new look, renovating has never been more popular.
According to CMHC's 2007 Renovation and Home Purchase Report, last year more than $17.3 billion was spent on home renovations. In 2007, 46 per cent of … (2 comments)
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mortgage intelligence: Protect yourself against any further increase in rates for purchases, refinances, or renewals - 10/11/07 03:29 PM
As part of our effort to keep you apprised of Canadian Mortgage Market conditions, please be advised that there is continued pressure to increase interest rates on Fixed Rate Mortgages. Major banks have already begun to increase posted rates by approximately 25 bps on the five year fixed rate.
A number of lenders have … (0 comments)
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mortgage intelligence: Subprime bailout means the stupid won't have to pay - 09/07/07 07:33 AM
This was a recent headline in a prominent newspaper referring to the current credit crisis in the American Sub prime Market. "Subprime bailout means the stupid won't have to pay"
As a Canadian Mortgage Broker I have been very interested in reading comments from the "so-called" experts, the reasons why the U.S. mortgage … (8 comments)
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mortgage intelligence: Latest Stats Can. Report on New Homes Starts - 09/06/07 01:52 PM
Construction intentions cooled down in July as the value of building permits declined, halting two months of record-setting performances. Municipalities issued building permits worth $6.2 billion, down 11.3% from $6.9 billion in June.
Still, July was one of only a handful of months in which permits exceeded the $6-billion mark.
At $6.9 billion … (0 comments)
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mortgage intelligence: August Prepares to Roar into Fall Market - 08/20/07 03:26 PM
TORONTO, Aug. 17 /CNW/ - Resale home transactions reached unprecedented heights in the first half of August,up 17 per cent from the same period in 2006, Toronto Real Estate Board President Donald Bentley announcedtoday. So far this month 3,838 properties have sold with an average price of $355,829."The market has shown … (0 comments)
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mortgage intelligence: Expect higher prices, interest rates and taxes to cool the housing market in 2008 - 07/25/07 07:15 AM
Expect higher prices, interest rates and taxes to cool the housing ... <- read moreRecord year-to-date sales of existing homes in June, along with double-digit increases in house prices, reflect a still-very-hot Canadian housing market as we reach the midway point in 2007. According to the Canadian Real Estate Association (CREA), … (0 comments)
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mortgage intelligence: Ontario market continues to be "One Hot Summer" - 07/18/07 11:58 AM
TORONTO, July 18 /CNW/ - July has started swiftly, with 3,947 sales to date, TREB President Donald Bentley announced today. This mid-month total is up 21 per cent over last July's 3,251 sales.
"While it is too early to speak of a July record (currently the record is 8,084 sales recorded in … (0 comments)
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mortgage intelligence: TransUnion report, the impact of your credit score on the true cost of your mortgage - 07/18/07 10:16 AM
Personally I think it is just as much an issue of lack of education on the part of the client's Lender as it is lack of knowledge on the part of the respondents. Regardless the "price matrix" as a result of your Credit Score can cost the YOU thousands of dollars in extra … (1 comments)
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mortgage intelligence: More on Toronto's tax (NOT) & cottage prices go through the roof - 07/18/07 08:12 AM
Miller's tax push fails by a single voteGlobe and Mail - CanadaDespite the dire warnings of possible service cuts and tax hikes, Mr. Ashton said last night the deferral was necessary to get the Toronto Real Estate Board ...
Cottages prices going through the roofCanoe.ca - CanadaThe average price for a piece … (2 comments)
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mortgage intelligence: What happened to Toronto's proposed 100% increase the Land Transfer Tax? - 07/17/07 07:54 AM
Tax attack launched <-click here to read moreToronto Sun - CanadaPalmer noted a small number of people -- those "trying to achieve the Canadian dream" -- will bear the brunt of the "unfair tax." For every real-estate ...
Two new taxes vital for Toronto <-click here to read moreToronto Star - Ontario, … (0 comments)
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mortgage intelligence: 3 reports on the health of the Canadian Real Estate Market - 07/13/07 08:15 AM
Canadian Housing Market Gathers Momentum As US Market SlumpsMoney Morning - USARoyal LePage Real Estate said in its quarterly report that the average Canadian house price is expected to rise by 9.5% to reach $286775 by the end of this ...
June a record month for Canadian home buyingToronto Star - Ontario, … (1 comments)
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mortgage intelligence: Bank raises rate by 1/4 percentage point to 4 1/2 per cent - 07/10/07 10:42 AM
Bank of Canada raises overnight rate target by 1/4 percentage point to 4 1/2 per cent resulting in all major chartered Bank raising their Prime Rates to 6.25%
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 4 1/2 … (0 comments)
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mortgage intelligence: Happy Canada Day! - 06/29/07 09:27 AM
The Maple Leaf Forever!
It was over 40 years ago, in 1965, that Canada's distinctive maple leaf flag flew for the first time. Then, as now, the flag had its supporters and detractors. But few realized what a powerful and positive symbol our Canadian flag would become.
Though we endlessly debate our … (3 comments)
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mortgage intelligence: Toronto REALTORS® Tell City that 100% Land Transfer Tax Increase is Unfair - 06/27/07 04:49 PM
TORONTO, June 27 /CNW/ - The Toronto Real Estate Board has told the City of Toronto that its proposal to charge a second land transfer tax treats home buyers unfairly. TREB's comments were made in a formal presentation to the City's Executive Committee earlier this week.If the City moves forward with … (2 comments)
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mortgage intelligence: Ontario housing markets defy industry expectations....push sales and prices to new heights says RE/MAX - 06/25/07 10:43 AM
Transmitted by CNW Group on : June 21, 2007 06:00
MISSISSAUGA, ON, June 21 /CNW/ - Despite concerns over a higher Canadian dollar and its impact on the province's manufacturing sector, housing markets across Ontario continue to perform above and beyond industry expectations, according to a report released today by RE/MAX Ontario-Atlantic Canada.Stronger than … (0 comments)
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mortgage intelligence: Insist they need a REALTOR® but when it comes to...... - 06/22/07 07:10 AM
I have always operated my business on one simple premise. Give the client as much credible information as possible, so that they can make the best educated decision, at the time in which they have to make it.
Regardless of recent minor fluctuations, we are still at historically low mortgage rates even at the current discounted rates … (3 comments)
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mortgage intelligence: An Outlook for U.S. & Canadian Interest Rates to 2020 - 06/21/07 10:09 AM
TD Bank Financial Group has just released a TD Economics Special ReportTHE SHAPE OF YIELDS TO COME: AN OUTLOOK FOR U.S. AND CANADIAN INTEREST RATES TO 2020Highlights include:Financial markets are currently fixated on the recent rise in bond yields, but U.S. rates have....Looking ahead, interest rates will fluctuate over business cycles … (0 comments)
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mortgage intelligence: On average, households spent more than $11,000 on renovations - 06/18/07 03:08 PM
OTTAWA, June 14 /CNW Telbec/ - Approximately 1.5 million households in 10 major Canadian centres surveyed(1) indicated they completed renovations last year, costing an average of more than $11,000, according to the new Renovation and Home Purchase Survey(2) released today by Canada Mortgage and Housing Corporation (CMHC).
"More than $17.3 billion was … (1 comments)
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mortgage intelligence: A Gentleman offers you $11,000 for your medium coffee - 06/12/07 06:21 AM
Just imagine - as you're going through your favourite coffee drive-thru this week - that a well-dressed gentleman stops and offers you $11,000 for your medium double double. Who would hesitate? We'd take the cash. It's not so far-fetched. In fact, if you take that coffee budget and apply it to … (3 comments)
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mortgage intelligence: Rental Vacancy Rates are at Historically High Levels - 06/06/07 10:29 AM
While the trend in rental apartment vacancy rates has plateaued in recent years, vacancy rates are at historically high levels thanks to low monthly ownership carrying costs, high apartment completions and a loss of migrants to urban centers in western Canada according to Ted Tsiakopoulos, CMHC's Ontario Regional Economist.
Read the rest … (0 comments)
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mortgage intelligence: One in four Canadians aim to buy a recreational property - 05/17/07 06:32 AM
The un-official start to the cottage season is here, and as Canadians look for ways to make the most of their summer, many are looking to the country's hot recreational property market to maximize their seasonal enjoyment. And, even as prices continue to rise and more people turn to a mortgage … (3 comments)
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