bank: Canadian Bonds Fall on Speculation Bank of Canada to Raise Rate - 04/11/07 10:47 AM
Canadian bonds fell, pushing the yield on the 10-year government bond to its highest since Feb. 13, on speculation that the Bank of Canada may raise interest rates. Investors sold bonds last week after the government said the economy created more jobs than economists forecast in March. Yields also rose following … (0 comments)
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bank: A Better Way To Shop For Your Mortgage - 03/03/07 12:24 PM
Okay, you've done your homework. You didn't simply accept your bank's posted mortgage rate. One question got you an immediate one percent reduction. You even shopped around at a couple of competing banks. Now, with pre-approval in hand, you're a mortgage savvy consumer ready to go house hunting.
But wait a minute. … (0 comments)
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bank: Canada's Productivity Falling - 02/17/07 11:16 AM
Given Canada's and especially Western Canada's robust economy, it's "phenomenal" that both the country's and our region's productivity is falling, TD Bank Financial Group's Chief Economist Don Drummond told a Victoria forum organized by Royal Roads University and the Victoria Chamber of Commerce.
Unemployment rates continue to fall as the labour … (4 comments)
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bank: Canada new house prices level off in December - 02/11/07 12:17 PM
Average prices of new houses in Canada did not show a monthly increase in December for the first time since June 2000 as superheated markets in western Canada showed signs of cooling down.
Statistics Canada said on Thursday December's new home prices were up 10.7 percent from a year earlier, but … (0 comments)
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bank: Canada Mortgage Agency Says Home Starts to Drop Through 2008 - 02/11/07 12:12 PM
Canada's federal housing agency said home starts will decline this year because of higher prices and mortgage costs, and in 2008 will dip below 200,000 units for the first time in seven years. Construction of new homes will decline to 209,500 units this year from 227,395 in 2006, and then to … (0 comments)
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bank: New To Canada Mortgage Financing - 02/11/07 12:00 PM
Recent Immigrant to Canada? Discover mortgage products designed for you.
New to Canada? While most financial institutions traditionally have insisted that new immigrants provide a down payment of at least 25% to 35%, Genworth now offers qualified homebuyers who have immigrated or relocated to Canada to qualify for a mortgage with as little … (1 comments)
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bank: Inflation quickens as housing costs swell - 12/19/06 09:41 PM
Canada's inflation rate accelerated to a 1.4-per-cent pace in November as consumers paid more for home repairs and mortgage costs rose at the fastest pace in more than five years.
The annual rate rose after a 0.9-per-cent gain in October, Statistics Canada said Tuesday. It was the first time in three months … (0 comments)
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bank: Canada a world leader in mortgage fraud, investigators warn - 12/16/06 02:08 PM
Canada is becoming a global trendsetter in the burgeoning business of mortgage fraud, say law-enforcement experts and investigators gathered this week at an international crime conference. Although credit card and mass marketing fraud are still "a huge concern" for Canadians, consumers need to pay particular attention to the rapidly rising potential … (0 comments)
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bank: Mortgage rate drop aligns 1-year, 5-year fixed residential rates - 12/16/06 01:59 PM
Canadian mortgage rates dropped a 10th of a percentage point Monday _a minor tweaking that keeps one-year and five-year fixed rates abnormally close to each other.
``There's an inverted yield curve now and many lenders don't want to lend money on a short-term basis,''said mortgage broker Kris Budisa, regional manager of … (0 comments)
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bank: Real estate buoys the middle class - 12/15/06 09:13 PM
Canada's wealth distribution has become more skewed over the past 20 years, but it's in the middle of the pack when compared with the rest of the world, new studies show.
The country's real estate boom has been the key factor supporting middle-class families in the past two decades, making them more … (0 comments)
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bank: Canadian interest rates should stay steady - 11/28/06 11:51 AM
Canadian interest rates shouldn't budge unless wage pressures flare up, the Organization for Economic Co-operation and Development said Tuesday.
It noted that economic activity has eased recently because of higher interest rates, terms-of-trade losses and weaker exports. Growth is expected to benefit from some pick-up in foreign markets, though domestic demand will … (0 comments)
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bank: Rate yourself: Fixed or variable mortgage? - 11/25/06 04:33 PM
For a lot of people it's a more intimate question than "boxers or briefs?" and the reply is probably more revealing about a person's innermost self: Fixed-rate or variable-rate mortgage? With the Bank of Canada now widely thought to have concluded a series of seven interest-rate hikes in the past year, … (0 comments)
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bank: Mortgage costs not clear to homeowners - 11/23/06 12:38 PM
Less than one-third of Canadian homeowners know how much it costs for a mortgage when they buy a home, a survey shows. When asked how much they might pay for a $200,000 mortgage at six per cent over 25 years, 70 per cent said they didn't know or guessed lower than … (2 comments)
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bank: Clients win as mortgage brokers take on banks - 11/23/06 12:31 PM
Do you remember the days long, long ago when the mortgage broker was considered the "lender of last resort"? He was the guy -- there were very few women in the business in the 1980s -- you crept up a rear staircase to see when you were turned down by the … (1 comments)
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bank: Bridgewater Bank & AIG United Guaranty Canada Partner to Deliver Innovative Mortgage Products to Canadian Homebuyers - 11/22/06 02:23 PM
Bridgewater Bank, Canada's newest chartered bank, and AIG United Guaranty(1), Canada's newest mortgage insurer announced today the agreement of a strategic partnership. The two companies will combine their respective mortgage finance and mortgage insurance expertise to deliver innovative products and superior customer service to the Canadian homebuyer market.
Bridgewater Bank's Vice-President & … (0 comments)
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bank: Mortgage fraud under attack - 11/10/06 01:33 PM
Last week, a judge handed down a ruling in a mortgage fraud case that has the press going crazy and the banks getting nervous.A couple owned a condominium. They did not have a mortgage. One day, their tax bill arrived. To their confusion, the name on the tax bill was not … (4 comments)
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bank: Court ruling frees Toronto couple from fraudulent mortgage - 11/03/06 09:06 PM
A Toronto court ruling that has freed a couple from a bogus mortgage is "unprecedented" and a "breakthrough," the victims' lawyer said Wednesday.
Superior Court Justice Randall Echlin ruled Tuesday that Seyed Rabi and his wife, Shohreh Shafiei, were the innocent victims of identity thieves who placed a $247,860 mortgage on the … (1 comments)
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bank: Bank of Canada rapped housing agency on inflation - 10/30/06 01:12 PM
Bank of Canada Governor David Dodge rapped the government housing agency last summer for fueling inflation with new mortgage insurance products, according to a letter released by the central bank on Monday. Dodge wrote the letter to the Canadian Mortgage and Housing Corporation (CMHC) on June 30, but later met with … (0 comments)
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bank: Don't Be Too Quick To Sign That Mortgage Renewal Letter - 10/26/06 10:48 PM
More than 70% of Canadians do not take advantage of their position and a mortgage broker's services during the renewal of their mortgage. In fact, most Canadians simply accept the posted rate their bank offers them at renewal.
You should recognize that you are now negotiating from a position of strength as … (0 comments)
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bank: Rising home prices fuel retail shopping spree - 10/24/06 11:25 PM
Canadian consumers are looking a lot like Americans these days, borrowing against their houses to fund their substantial shopping sprees.
Personal lines of credit are surging as house prices rise, and household credit is growing at double-digit rates. But analysts say the similarities with U.S. consumers end there.
While retail sales in Canada … (0 comments)
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bank: Mortgage rates on the rise - 10/24/06 11:19 PM
Mortgage rates have begun heading up again at Canada's major banks, reversing two rate cuts made last month.
TD Canada Trust, Royal Bank, CIBC, and Bank of Montreal have all boosted their posted five-year fixed mortgage rates by a fifth of a percentage point to 6.8 per cent.
A four-year fixed mortgage also rises by a fifth of … (0 comments)
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bank: New enhancements Welcome to Canada program - 10/17/06 10:03 AM
We are pleased to announce enhancements to our residential mortgage financing policies relating to the following:
· New immigrants taking up permanent residence in Canada up to 65% not qualified, 75% qualified and 95% insured. · Temporary residents who are in Canada on work visas … (0 comments)
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bank: Housing activity most balanced in five years - 10/16/06 10:53 PM
Signs that Canada's housing market is in for a “soft landing” are building as the furious pace of activity in the housing market gives way to the most balanced conditions in more than five years, according to the Canadian Real Estate Association.
Although sales activity as measured through the Multiple Listing Service … (0 comments)
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bank: Why a Broker - 10/16/06 10:45 AM
Why use a Mortgage Broker?
Given that taking out a mortgage is one of the most important financial decisions the average person will ever make, why is it that most people in Canada spend more time shopping for their next pair of shoes than they do looking for a mortgage? In … (2 comments)
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bank: Cooling Canada housing boom may aid central bank - 10/11/06 08:13 PM
Back-to-back months of decline may not spell an end to Canada's housing boom, but they do take a bit of pressure off the Bank of Canada as it adjusts monetary policy to a slowing economy.
New home construction dropped 2.4 percent in September, missing economists' estimates for a gain, due to … (1 comments)
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bank: Lower bank rate could fuel boom - 10/10/06 04:45 PM
Real estate market could heat up again in region The Bank of Canada is expected to slash interest rates by as much as one per cent over the next 12 months, according to a recently released report from one of Canada's leading financial industry experts.
And that spells good news for … (1 comments)
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