The History of Interest Rates
Interest rates are what homeowners seem to live and die by sometimes. When are they going up, and how long are they going to stay so low? Currently in Canada we know that the next interest rate announcement from the Bank of Canada will come on June 5. And we also know that it’s likely…
Read moreVancouver Sales Down, Prices Still Up
All eyes have been on Toronto sales, Toronto homes, and Toronto mortgages for the past month or so, and that could be because Vancouver is starting to take a little less heat as market conditions seem to be normalizing there. But there are still signs of trouble as sales are slumping, but home prices remain…
Read moreHow to Avoid Mortgage Break Fees
A mortgage is a contract that you can expect to live with for 15, 20, 25 years or longer. But what if during that time, you decide that you want a new mortgage completely, either because you want to switch to a different lender, or you sell your home? In Canada you’ll need to break…
Read moreOECD Calls on BoC to Raise Rates
Many analysts and experts in Canada think it’s time that the Bank of Canada raised their rates and now, there’s one more body that thinks so: the Organization for Economic Co-operation and Development (OECD.) One senior economist in this organization says that the rule changes that have been implemented thus far aren’t enough for some…
Read moreCanadian Banks Undergo a Stress Test
A Fitch Ratings’ special report titled “Evaluating Canadian Banks’ Residential Mortgage Exposure” was released yesterday and in it, the global rating agency placed Canada’s Big Six banks under a stress test to see how they are doing, and how they will do in the near future, when it comes to residential mortgages. After the stress…
Read moreShould we need to Re-qualify when we Renew?
After the OSFI released their proposed guideline changes to the way banks and other lenders handle mortgages, everyone started talking about all the new rules being applied to mortgages in Ottawa. Changes are nothing new for us of course; Finance Minister Jim Flaherty has changed the rules three times since the beginning of last year….
Read moreCanadians Slow Borrowing and the Banks Suffer
There’s good news and bad news surrounding the banking sector today. The good news is that consumers are no longer gobbling up home equity loans and home equity lines of credit like they’re the last ones ever to be offered. The bad news is that it means that the banks have fewer profits. At least,…
Read more
Contact Us
Contact us today to set up an appointment.