Category

Mortgage Information
Royal Bank and TD Canada Trust announced Monday March 28 they are increasing several mortgage rates by up to 6/10ths of a percentage point. The biggest jump is attached to the popular five-year fixed closed rate, which moves from 5.25 per cent to 5.85 per cent at both banks. That’s the posted rate, which is routinely...
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Supply shortages still expected in big centres, but wave of new listings elsewhere will be boon to buyers STEVE LADURANTAYE From Tuesday’s Globe and Mail Published on Tuesday, Mar. 16, 2010 12:00AM EDT After a historic runup in prices, the Canadian resale housing market is set to cool down as a wave of new listings...
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According to CMHC statistics, the average mortgage in Canada only lasts 38 months, with only 29% of all 5 year terms making it to the full 5 year mark.  Due to property appreciation, the need for additional funds, life changes, moves, etc, a 3 or 4 year term just seems to be a better fit...
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Mortgages tougher on self employed CMHC is tightening the criteria needed for self-employed borrowers to get mortgage insurance, changes that will come into effect on April 9, 2010, according to Canadian Mortgage Trends. Borrowers who apply under CMHC’s self-employed stated income product will need a 10 per cent down payment instead of the five per cent...
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I hate to sound like everyone else – it often pays to be different, but we must recognize  most economists and experts are forecasting interest rate increases beginning as early as this Summer. The Bank of Canada rate was 4.25% in January 2008, and now it is only 0.25%, and has been there for almost...
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Mortgage rules were tweaked by Finance Minister Flaherty today. Here is an article courtesy of CBC News. Flaherty to toughen mortgage rules LAST UPDATED: MONDAY, FEBRUARY 15, 2010 | 9:45 PM ET COMMENTS132RECOMMEND64 CBC News Finance Minister Jim Flaherty will announce new rules Tuesday aimed at preventing homebuyers from getting into financial difficulty when mortgage rates...
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My thanks to Mark Wiesleder for his very useful article published in today’s Toronto Star February 05, 2010 Mark Weisleder Special to the Star One of the side issues in the recent bidding wars in cities across Canada is that buyers and sellers are not taking the necessary time to review and understand what is...
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RateSupermarket.ca’s panel of financial gurus believe we could possibly see lower fixed mortgage rates and bigger variable rate discounts to prime TORONTO, Feb. 4 /CNW/ – RateSupermarket.ca, Canada’s rate comparison website for personal finance products such as mortgages and insurance, has announced the results of their Mortgage Rate Outlook Panel for February 2010. The results...
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Many of us recall the glory days of variable mortgage rates – prime less 0.95 or even prime less 1.1%. As such, many clients who now want a variable mortgage are reluctant to commit to a five year term today – in case the discount improves soon. Street Capital recently came out with a one year...
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A tale of two real estate markets In Canada, damn our winters, it’s always been tough to sell a home this time of year. Not listing your house in the winter has even turned into a real estate rule of thumb. Traditionally, the market just dries up. So you can imagine the surprise of many...
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