What’s Going to Happen to Interest Rates? Or to Us?
The overnight lending rate in Canada is a funny thing. It seems so predictable at times, such as just a few weeks ago, when all looked rosy on the global economic horizon and it was predicted that because of that, BoC Governor Mark Carney would most likely raise interest rates as early as September. But…
Read moreDebt Repayment of Canadians Improves
Bank of Canada Governor Mark Carney and Finance Minister Jim Flaherty will have something to smile about after Equifax released some new stats that shows Canadians aren’t defaulting as much on their loans as they were at the end of the global financial crisis. And while our household debt still remains very high, the new…
Read moreAre Condo Concerns Legit?
According to stats released by the CMHC yesterday, new condo starts equaled 158,500 across the country, the highest the number has been since September 2007 and it’s the second-highest number of record for condos. While the number is high, it shouldn’t really be all that surprising to anyone after Toronto’s and Vancouver’s condo markets have…
Read moreMortgage Changes could Benefit Brokers
There’s been an awful lot of changes to mortgages in the last year or so. At the beginning of 2011 the federal government imposed stricter regulations on both amortization periods and then HELOCs and most recently, they’ve changed the oversight of the Canada Mortgage and Housing Corporation (CMHC.) This new governance of the Crown corporation…
Read moreBoC Official Speaks on Interest Rates, Inflation
The Bank of Canada Deputy Governor, John Murray, was in British Columbia yesterday speaking to a group of mortgage brokers about a number of things affecting the Canadian economy. The two topics that Mr. Murray had at the forefront of his mind were inflation and interest rates; and he once again explained why the Bank…
Read moreChoosing Between a Short and Long Term Mortgage
When it’s time to purchase a home, one of the things buyers concern themselves with the most is the interest rate they’ll be paying. The concern is legitimate, as it will largely determine how much you ultimately pay for your Canada and Ottawa mortgage. But what’s of equal concern is the term you choose. The…
Read moreCanada’s Bubble vs. Spain’s
It seems that just about everyone in the country has concerns over Toronto’s housing market and Toronto mortgages. Home prices are rising far too rapidly and new condos are being built with every breath. Yes, there is concern, and there’s even good reason for it. But while we so often compare ourselves to the United…
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