| NEWS |
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| July 27, 2010 |
| TMG The Mortgage Group Canada celebrates a milestone. VANCOUVER, BC - For twenty years, TMG has been an advocate for the mortgage broker channel - building strong relationships with lenders and mortgage ... |
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| July 13, 2010 |
| Survey may pave way for interest rate hike.
OTTAWA - Canadian firms are giving the recovery a vote of confidence in a key quarterly survey, paving the way for the Bank of Canada's ... |
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| July 8, 2010 |
| Sales will Stabalize in 2nd Half. Canada home prices, sales seen stabilizing in 2nd half Wed Jul 7, 2:21 PM TORONTO (Reuters) - Sales of Canadian homes ... |
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| July 7, 2010 |
| Economic Confidence Growing.
Economic confidence growing: RBC Canadian Consumer Outlook Index
Two thirds concerned about rising interest rates
TORONTO, Ontario, July ... |
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| June 21, 2010 |
| Bay Street still betting on July rate hike.
OTTAWA -- Bay Street economists are betting the Bank of Canada will raise interest rates again in July even though the central bank governor reinforced Wednesday ... |
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| June 16, 2010 |
| Canada's Regional Economic Momentum to Continue. Canada's
Regional Economic Momentum to ContinueTORONTO, June 16
/CNW/ - Virtually every province and sector of the Canadian economy has
rebounded ... |
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| June 12, 2010 |
| Ask the Broker: How will HST impact the sale/purchase of my house?. Effective July 1, the much-talked-about Harmonized Sales Tax (HST) will come into full effect in Ontario, blending the GST and the PST ... |
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| May 14, 2010 |
| Canadians have mortgages on their minds. As the Canadian economy begins to show signs of growth, results of TNS Canadian Facts' economic tracking survey, TNS Vibe, indicate that intentions to purchase ... |
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| April 27, 2010 |
| Homebuyers e-Valuate Mortgage Options. OTTAWA, ON, April 26, 2010 /JAC/ - The 2010 Mortgage Consumer Survey, released today by Canada Mortgage and Housing Corporation (CMHC), shows that the ... |
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| April 20, 2010 |
| Bank of Canada maintains overnight rate target at 1/4 per cent. OTTAWA -The Bank of Canada today announced that it is
maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is ... |
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| April 1, 2010 |
| Mortgage brokers taking a closer look at who is buying.
The Bank of Canada warned in late 2009 up to 10 per cent of Canadian homeowners might be in danger of losing their homes when interest rates ... |
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| March 31, 2010 |
| CIBC, National Bank raise mortgage rates . Experts are encouraging homeowners make lump sum payments on their mortgages after several of Canada's major banks raised residential fixed mortgages rates.
Similar ... |
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| March 29, 2010 |
| Royal Bank and TD Canada Trust increase rates slightly.
Royal Bank and TD Canada Trust announced Monday they are increasing several fixed mortgage rates by up to 6/10ths of a percentage point.
The ... |
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| March 29, 2010 |
| Should you break your mortgage?. With some fixed mortgage rates about to head higher, a lot of Canadians will be thinking that if there's ever a good time to get pre-approved or lock in their variable ... |
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| March 25, 2010 |
| Canada's housing boom will continue this spring. Canada's housing boom will continue this spring as exceptionally
low mortgage rates - and the expectation that borrowing costs will soon be
headed ... |
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| March 2, 2010 |
| Bank of Canada maintains overnight rate target at 1/4 per cent.
OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at ... |
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| February 18, 2010 |
| New Mortgage Lending Rules. New Mortgage Rules
On April 19 our government will lay down three major rule changes to
"prevent" a housing-price bubble and keep homeowners ... |
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| February 16, 2010 |
| New mortgage rules introduced to lessen mortgage crunch risks: sources say. OTTAWA - The federal government is expected to announce new rules Tuesday that would make it more difficult for first-time buyers ... |
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| February 4, 2010 |
| Canadian banks step carefully towards U.S. expansion. Some of Canada's largest banks are planning expansion in 2010 but are treading uncharted waters carefully as U.S. economic recovery remains "tepid."
Executives ... |
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| January 27, 2010 |
| 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 ... |
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| January 10, 2010 |
| Economy will turn corner in 2010, survey says. Although more than three-quarters of Canadians still believe we are in recession, more than half believe 2010 will be the year the economy turns around, ... |
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| December 17, 2009 |
| New home prices rise 0.3 per cent in October. OTTAWA - Prices for new homes in Canada rose 0.3 per cent in October after a
0.5 per cent increase the previous month.
It was the fourth straight monthly ... |
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| December 16, 2009 |
| Bank of Canada welcomes initiative to improve infrastructure for Canadian-dollar.
OTTAWA - The Bank of Canada welcomes today's announcement by
the Investment Industry Association ... |
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| November 17, 2009 |
| Nationwide home resales leap 41% year-on-year. Nationwide home resale figures for October have hit a record high leaping
41.5% year-over-year, according to figures from the Canadian Real Estate
Association ... |
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| November 3, 2009 |
| Housing market to improve in 2010: CMHC forecast. OTTAWA - Canada's national housing agency has upgraded its forecast for the
new-housing market next year on the grounds that low mortgage rates ... |
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| October 29, 2009 |
| Bank of Canada governor predicts sluggish growth, but says recovery is coming. OTTAWA - Bank of Canada governor Mark Carney says he is confident private
businesses will be in position to carry the economy ... |
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| October 29, 2009 |
| Basement developments a good investment: CMHC.
According to the Canada Mortgage and Housing Corp. (CMHC),
homeowners across Canada are inclined to renovate their basements for
many ... |
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| October 27, 2009 |
| Fixed or variable decision "much closer to call", bank report says. While variable-rate mortgages continue to beat out fixed-rates when it comes
to cost savings, the gap between the two is likely to ... |
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| October 20, 2009 |
| Bank of Canada maintains overnight rate target at 1/4 per cent. OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged ... |
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| October 19, 2009 |
| 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 ... |
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| October 15, 2009 |
| Resales of Canadian Homes up 18 Percent in Third Quarter. The Canadian Real Estate Association says sales of existing homes during the third quarter were among the strongest on record.
National home ... |
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| October 13, 2009 |
| Consumer Confidence in Canada is on the Rise. The Conference Board says consumer confidence in Canada is on the rise, increasing for the seventh straight month in September.
The monthly survey finds ... |
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| October 5, 2009 |
| Accelerated Mortgage Payments - Smart People Make Them!.
Why? Because it is the smart thing to do!
Making accelerated mortgage payments can mean thousands of dollars in
savings!
Normally, your ... |
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| October 2, 2009 |
| Pre-Approval Letter - Essential!.
Once you have been pre-approved by the lender, they will provide you with a
letter that will show you (and others) how much you are able to borrow.
Here are 4 reasons ... |
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| October 1, 2009 |
| Can you afford to buy a home?. Fall is often a great time to shop for a home. New home and condo builders are
anxious to clear inventory and other sellers don't want to hit the winter real
estate ... |
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| September 30, 2009 |
| TMG The Mortgage Group Canada Inc. Names Mark Kerzner President. One of Canada's Leading National Mortgage Broker Companies welcomes industry expert, opens Toronto office. |
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| September 29, 2009 |
| Credit Score Disclosure.
Pulling a credit score is one of the first things a mortgage planner
does before submitting your application to a lender.
Once the score is obtained, ... |
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| September 28, 2009 |
| 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 ... |
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| September 24, 2009 |
| CMB Spreads Back to Normal.
At the height of last fall's credit panic, Canada Mortgage Bonds traded over 65 basis points above their regular government bond counterparts.
That's significant ... |
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| September 23, 2009 |
| 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 ... |
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| September 22, 2009 |
| Bonds: Steady as She Goes. Been there, done that is an oft-quoted line about the joys of round-trip tourism. It's also a line that can be used about the terms of the latest issue of Canada Mortgage ... |
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| September 17, 2009 |
| Rates Drive Home Sales.
CREA
says home prices are up an average of 11.3% nationwide versus last year. Given
the recession we just went through, that's nothing short of stunning.
Economists ... |
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| September 16, 2009 |
| Trust Your Gut.
If you're a mortgage planner, you can't be afraid to trust your gut feeling when encountering unusual situations.
If a client hesitates when you ask them a direct question ... |
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| September 14, 2009 |
| Brace for Aggressive Rate Hikes in 2010 Says Laurentian.
That's according to a research report last week from Laurentian Bank.
In it they state:
We think most of the tightening will occur ... |
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| September 11, 2009 |
| Housing Starts Rise More Than Expected in August..
Housing starts rise more than expected in August. OTTAWA - Home construction increased more than expected in August as the housing ... |
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| September 10, 2009 |
| Bank of Canada Keeps Rates Steady.
The Bank of Canada is holding firm on interest rates, as expected.
At its rate meeting this morning, the Bank kept Canada's key interest rate at a record low ... |
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| September 3, 2009 |
| Protect Your Private Information.
Federal and Ontario regulators are reportedly auditing mortgage brokerages to ensure they're handling consumers' information properly.
Monday's Globe ... |
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| August 25, 2009 |
| HELOCs vs. Mortgages. "What is the difference between a HELOC (home equity line of credit) and a variable-rate mortgage? Why would someone want a HELOC instead of a mortgage?"
The Answer: HELOCs ... |
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| August 19, 2009 |
| Canadian inflation falls to lowest level in 56 years at -0.9 per cent. Canada's annual inflation rate slid to the lowest level in 56 years last month, dropping more than expected for the second straight ... |
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| August 15, 2009 |
| Top 10 Reasons Not To Lie About Your Income.
Stated-income mortgages allow well-qualified business owners and commission-based borrowers to state their income instead of proving it traditionally.
People ... |
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| August 4, 2009 |
| Are Mortgages Commodities?.
Websters defines commodities as:
A good or service whose wide availability typically leads to smaller profit margins and diminishes the importance of factors other ... |
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| July 29, 2009 |
| Bank of Canada Promise May Not Have Legs.
The Financial Post wrote yesterday that the Bank of Canada may not hold its key lending rate at 0.25% until June 2010 as planned. Story Link
Certain ... |
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| July 24, 2009 |
| Variable-Rate Payments Over Time.
Monthly payments on most variable-rate mortgages fluctuate when prime rate goes up or down. It's interesting to see how these payments have changed over ... |
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| July 14, 2009 |
| Will 5-Year Mortgage Rates Fall Further?.
Banks last raised mortgage rates on June 9, when the 5-year bond yield was at 2.68%.
Since then, the 5-year yield (which guides fixed mortgage pricing) ... |
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| July 1, 2009 |
| 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. ... |
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| June 22, 2009 |
| CMHC's 2009 Mortgage Consumer Survey.
CMHC recently surveyed 2,507 new mortgage consumers. Here's what they found:
70%: Feel now is a good time to buy a home in Canada
1/3: ... |
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| June 18, 2009 |
| Mortgage brokers gain ground with first-timers. Mortgage brokers' share of the first-time homebuyers' market has increased to 44 per cent, up from 35 per cent in 2007, according to CMHC's ... |
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| June 15, 2009 |
| Carney Repeats: Rates Low Till June 2010.
Bank of Canada chief, Mark Carney, repeated his pledge to keep rates low, saying today:
"Conditional on the outlook for inflation, the Bank expects ... |
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| June 9, 2009 |
| Fixed Rates Up Again. With the leap in bond yields yesterday, a bunch of lenders are once again raising fixed mortgage rates.
TD was the first of the Big 5 today to announce a rate increase. Canada's ... |
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| May 25, 2009 |
| Mortgage Term Reviews.
Picking a mortgage is like buying a diamond. It's an expensive purchase; you don't want to screw it up; and getting started can be confusing. The first thing most people ... |
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| May 20, 2009 |
| Mortgage Term Reviews.
Picking a mortgage is like buying a diamond. It's an expensive purchase; you don't want to screw it up; and getting started can be confusing. The first thing most people ... |
| more |
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| May 7, 2009 |
| 10-year Fixed Mortgages Break 5%.
If you look hard enough you'll find some brokers able to quote 4.99% for a 10-year fixed mortgage.
It requires a 30-day "quick close," but nonetheless, ... |
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| April 26, 2009 |
| We Can't Go Any Lower.
That's the opinion of Eric Lascelles, chief economics and rates strategist for TD Securities.
Lascelles was referencing the Bank of Canada's all-time low ... |
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| April 22, 2009 |
| 1/4 Percent Rate Cut.
The Bank of Canada has cut its key interest rate 1/4%.
The overnight target rate is now a record-low 0.25%.
More importantly, the BoC stated today that it "commits to ... |
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| April 14, 2009 |
| Home Affordability On Its Way Back.
If TD is right, Canadian home prices will tumble 24% from their spring 2008 highs to 2010. TD's reasoning? Overbuilding and speculation.
In a ... |
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| April 3, 2009 |
| Walmart Pricing.
If you walk down any aisle at Walmart you'll see a lot of products priced at $4.99, $9.99, $19.99, and so on. When it comes to choosing between purchases, people instinctively ... |
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| March 28, 2009 |
| Watch Those Freebies.
Developers have been throwing in much more than the kitchen sink to get home buyers buying. New cars, vacations, and furniture are just a few of the carrots salespeople ... |
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| March 24, 2009 |
| Mortgage Tips and Trends. Mortgage Tips
If you're looking for a pre-approval, be prepared to wait a few days longer than normal. Refinances and spring home buying are boosting mortgage ... |
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| March 5, 2009 |
| Fixed Rate Direction After the Cut.
Now that prime rate has dropped to 2.50%, variable rates are falling accordingly. The typical closed variable (for new mortgages) is now just 3.30%, down ... |
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| February 27, 2009 |
| The Five C's of Credit.
People often wonder what lenders look for when they're reviewing a mortgage application. The answer is that applications are typically measured against what ... |
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| February 23, 2009 |
| Mortgage Buyback Largely Unsubscribed.
CMHC offered to buy $7 billion of 5-year variable-rate mortgages from lenders on Friday.
Lenders, however, wouldn't sell them more than $2.3 billion worth.
Scotia ... |
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| February 18, 2009 |
| Waiting for Better Fixed Rates.
The Bank of Canada's next interest rate announcement is just two weeks away, and many mortgage shoppers are fixated on it.
We've probably spoken to a dozen ... |
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| February 11, 2009 |
| One More Cut?.
The Bank of Canada says it has room for another rate cut at its next March 3 meeting.
Governor Mark Carney said today: "There is further one could move if we saw fit."
Scotia ... |
| more |
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| February 4, 2009 |
| When Pre-payments Matter.
Most people know that a low rate isn't everything when shopping for a mortgage. There are lots of reasons why that's true. Prepayment privileges are ... |
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| January 30, 2009 |
| BoC Chief Says Canada Will Ride Out the Storm.
Sound bytes from the Bank of Canada's Mark Carney, from a speech he gave Tuesday, January 27, 2009:
"The Canadian economy is expected to begin ... |
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| January 28, 2009 |
| 2009 Federal Budget Announced. And what a budget it is for the real estate industry.
The Tory's reached into the goody bag and pulled out:
A $5000 increase to the RRSP Home Buyers ... |
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| January 23, 2009 |
| 3-year Fixed Mortgages.
There are some amazing deals right now on 3-year fixed mortgages.
In some cases, like with Merix Financial's latest promotion, they're at or below most 1-year and ... |
| more |
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| January 21, 2009 |
| Rate Frenzy. TD just announced some excellent fixed rates of their own. Hat's off to them for quickly countering RBC and BMO's new specials.
Lenders now seem to be jockeying for position ... |
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| January 20, 2009 |
| Bank of Canada lowers overnight rate by 1/2 percentage point to 1 per cent. OTTAWA - The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage ... |
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| January 13, 2009 |
| Renewing Into an Open at Maturity.
Each year hundreds of thousand of Canadians renew their mortgage by signing the renewal form their lender mails out. They don't shop around. They just ... |
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