Do we Need More Rules? Or is it Enough Already?
So is Canada in a housing bubble or not? Do we need stricter rules on mortgages, or not? These are the debates that have been swirling around the country for the past year and now, one Toronto mortgage broker and one policymaker are coming to blows over it. This newest debate surrounds the Office of…
Read moreOur Banks are Pretty Good!
Ever since David MacDonald of the Canadian Centre for Policy Alternatives accused our federal government earlier this week of giving our major banks bailouts, there’s been little talk of anything else. But not only were our banks not bailed out during the recession, they actually performed much better than many of the global banking systems….
Read moreWill You go for the ScotiaHockey NHL Card?
Banks have forever been trying to lure customers away from Toronto mortgage brokers, as well as other banks and lenders by offering them deals that are sometimes too good to be true and other times, just coming up with something so creative and unique that Canadians just can’t resist. And that’s just what Scotiabank did…
Read moreWhat is a Bank Bailout?
Yesterday we talked about the study released by the Canadian Centre for Policy Alternatives, in which they accused our federal government of giving the banks a bailout during the recession. While we disagree with this line of thinking, and explained in our post yesterday as to why we disagree with it, it’s raised some interesting…
Read moreChief of BMO Defends Low Mortgage Rates
The Bank of Montreal may have cleared it with Ottawa before they started the second Canadian mortgage war in three months, but there are still many critics who say their timing couldn’t be worse. For the past two years the Canadian government has been warning us about our ever-increasing levels of household debt, with louder…
Read moreOther Banks could Learn from National Bank of Canada
It was just this month that many of the major lenders cut their mortgage offerings significantly, taking advantage of the low interest rates to offer customers unheard of mortgage deals. Of course, the banks did this to give themselves a leg up on the competition, and to get people going to them for a mortgage…
Read moreBank of Canada’s Interest Rate, and Predictions
It’s the Bank of Canada that more or less determines the interest rates you’ll be paying on your mortgage; so when they speak, we listen. On Tuesday of this week, the Bank announced that it will keep its overnight interest rate at 1%. While this wasn’t really huge news, given that the same announcements were also made in July and September, this time the Bank also made some observations about the Canadian economy, and what the country’s financial situation is going to look like for the next year or two.
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