Experts and BoC Governor Worried about Bubble
It’s a fact. You just can’t talk about today’s real estate market without mentioning the word “bubble.” Jim Flaherty spoke about it on Friday, and now Prem Watsa, chief executive officer of Fairfax Financial Holdings Ltd., and the Canadian investor who was the first to predict the crisis in the United States, says that if…
Read moreCMHC Changes: Good, Bad, or Indifferent?
There’s been a huge amount of talk this week surrounding the most recent changes made on mortgages in Ottawa. While this one – the changing of CMHC’s oversight and governance – isn’t nearly as severe as the other changes Ottawa has made, Jim Flaherty is still hearing a lot about it. Some think the changes…
Read moreWho’s to Blame for the Bubble?
Is Canada in a housing bubble? If it’s not, it’s getting dangerously close to that point. But who’s to blame for it? According to Jim Flaherty, it’s partly the fault of the builders and developers in hot markets like Toronto who continue to build. But the banks part in it can’t be overlooked, and the…
Read moreRate Hike Unnecessary Right Now, say Experts
Just when we thought we had all agreed that a slight increase in interest rates could help to cool Canada’s hot housing market, two experts are weighing in to say that a hike could actually hurt our economy more than help it. According to Derek Holt and Dov Zigler, economists at Scotia Capital Markets, our…
Read moreMore Canadians Choosing Shorter Amortizations
There are lots of ways Canadians are trying to save money on their mortgages. Just two days ago we told you about how more Canadians are choosing the budget-friendly fixed rate over the variable rate, which is thought will be going up quite soon. But now, we’re finding yet one more way to save money…
Read moreCMHC Changes Announced Yesterday
Here they are! The changes have been made to mortgages in Ottawa, and Finance Minister Jim Flaherty is hoping that this is the only extra step the government will have to make when it comes to cooling the housing market and allowing it to “correct itself,” as he’s stated before he’s hopeful it will do….
Read moreIs RBC’s MyProject MasterCard a Good Thing?
On this blog, we often talk about credit cards and mainly, the evil of them when compared with other means of borrowing such as HELOCs and other types of second mortgages. But, RBC has come out with a card so different, so clever, that it may make it difficult for some borrowers to decide on…
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