Why the Rising Mortgage Rates don’t Spell Disaster
It was the beginning of last month when bond prices plunged and RBC increased mortgage rates in response. Not too long after Scotiabank and TD followed suit. But while homeowners and home buyers are groaning about these higher mortgage rates, they’re not all bad. And in fact if you look at them from a certain…
Read moreThe Debt Ceiling Deal and Your Mortgage Rates
With the passing of a debt ceiling deal earlier this week, the US (and by association, Canada) has avoided the worst case scenario. Without any deal, as you’ve probably heard a million times over the last few weeks, the US credit rating would’ve been downgraded and mortgage rates across the continent would’ve been affected. Of…
Read moreWho Sets Mortgage Rates & How To Get the Best One
How are you supposed to get the best mortgage rate for you, or even have a ballpark figure in mind; and why are different lenders allowed to have such varying rates? Who sets the mortgage rates in Canada anyway?
Read moreBoC Holds Prime Rate; What’s in Store for the Future?
To no one’s surprise, the Bank of Canada opted against an interest rate hike yesterday as it released its July statement. While alot has been made about the strong suggestions in the statement that a rate hike was imminent, there are some interesting points that suggest a more patient approach might be taken. First of…
Read moreBank of Canada Interest Rate Decision Coming Tomorrow
Tomorrow, the Bank of Canada will make its rate hike decision, though the consensus appears that no change is imminent. A survey of 37 economists predicts that there will not be a rate hike tomorrow and that while it is a slight possibility that there will be a hike in September, it is much likelier…
Read moreIndirect Evidence That Rate Hike is Imminent
Today, the Bank of Canada released the results of a survey it conducted regarding the short-term outlooks of Canadian businesses. Of particular importance to those interested in predicting the future of mortgage rates were the responses to two questions, one regarding job creation and one regarding inflation outlooks. Among Canadian firms surveyed, 57% expected to…
Read moreA Final Thought About The Potential Housing Bubble
In discussing the recent report which led to a minor frenzy of housing bubble related media coverage, one of my main points was that it was unwise to predict countrywide drops in housing prices for a country with some pretty important differences from one region or city to another. Specifically, the data I presented showed…
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