Money Talks: Volume 17
Stressed about a housing market crash? Scotiabank says you shouldn’t be. Stressed out about your mortgage, or about finding your next one? This week one blog says that you fall within the majority of Canadians. Oh, and did you know that March is Fraud Awareness Month? That and more is in this week’s edition of…
Read moreThe Fla-Rate Drama Continues
You’ve gotta wonder whether or not Finance Minister Jim Flaherty is regretting his decision to let Manulife in on his “displeasure” over the fact that they dropped their rates to rock-bottom 2.99 per cent for five-year fixed rates last week. Ever since he had a spokesperson from the Minister of Finance phone them last week,…
Read moreUpset about Jim Flaherty’s Meddling in the House of Commons
When Jim Flaherty phoned Manulife on Monday and expressly told them to lower their rates – and they did – it caused a huge ruckus around the country. After all, what right did the Finance Minister have to tell banks how to do business? Many felt that expressing concern through the media the way he has…
Read moreFlaherty Speaks to Banks Once Again about Mortgage Rates
Finance Minister Jim Flaherty has never been shy when it comes to speaking to banks about their mortgage rates. But until now, he’s usually spoken to them mostly through the media, talking about ‘irresponsible lending’ and, at times like earlier this month when BMO dropped their rates, thanking the other big banks for not following…
Read moreUN says Canada Not one of 10 Most Developed Countries Anymore, but it’s not so Bad
Last week the United Nation’s released their annual development index and at first glance, the news is not good for Canada. This year we’ve fallen out of the top 10 most developed countries, after holding the number one spot in the 1990s, and then nearly a decade thereafter. The report compares a countries health care,…
Read moreAnother Bank Says that Home Prices Aren’t Likely to Go Anywhere in Next Several Years
It was just last week that TD reported that Canadian home prices would remain where they are, at least for the next several years, approximately keeping pace with the rate of inflation. Now, Scotiabank chimes in to the chorus, saying they agree. And that the factors that would normally be there to support increase in…
Read moreCAAMP says 190,000 Jobs will be Lost in Next 2 Years due to Mortgage Rule Changes
Last year was the fourth time in just as many years that Finance Minister Jim Flaherty made mortgage rule changes; but it was undeniably that round that saw the most protests, especially by those in the industry. One of the arguments against the changes, made even before they officially went into effect, was that they…
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