If JB Can’t get a Mortgage, What Hope is There for the Rest of Us?
Seeing as how the sun is just starting to set on this Easter holiday, we thought that we’d put aside the stats, studies, and reports for now and bring some news that is just a little bit of fun. That’s why this story revolves around the Canadian teenager that has taken the world, and mostly…
Read moreOttawa Homes: Then & Now
We often hear about statistics that compare certain figures with those of the past year’s. Housing starts, average home prices, and consumer confidence are all things that are regularly measured, recorded, and then reported on. But the Ottawa Citizen has just released stats comparing Ottawa’s housing market in the early 90s to how it looks today,…
Read moreCanadians Think it’s a Good Time to Buy, just not for Them
A recent poll, done for Royal Bank of Canada and taken by Ipsos Reid, has found that while the majority of Canadians think that now is a good time to buy a home – but an even higher majority said that they personally don’t plan on buying a home right now. The survey, which questioned…
Read moreCall for Changes to Mortgages in Ottawa? One Banking Exec Doesn’t Think So!
It must have been extremely refreshing for Finance Minister Jim Flaherty this week, when one banking exec said that he didn’t think it was necessary for changes to be made on mortgages in Ottawa. This comes at a time when many, such as Ed Clark at TD Bank, have called for Flaherty to once again…
Read moreCarney Lashes Back on Bank Reform Issue
It was just two days ago when Terry Campbell, president of the Canadian Bankers Association, spoke out about the constant reform that Ottawa is putting banks through. At the time, Campbell called for a cessation of the reform after reform came down from Ottawa, dictating how banks do business and changing rules on Toronto and…
Read moreOSFI Says Some Banks are Too Lenient with Lending
The Office of the Superintendent of Financial Institutions has been getting a lot of press lately. It was just last month that they proposed lowering the minimum loan-to-value of uninsured home equity lines of credit in Canada to 65% from its current 80%, along with a few other proposed new rules. While those rules are…
Read moreWhy National Bank Didn’t Join the Mortgage Wars
When BMO started offering deeply discounted mortgages, not just once but twice already this year, many of the Major Six banks in Canada were quick to follow. The first time, many backed out of their deals early because of falling profit margins and increased bank bonds. The second time most of the banks stuck true…
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