Bank of Canada Holds Overnight Lending Rate

The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus. “In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential,” writes the Central Bank in its […]

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Women are leading the way when it comes to purchasing their first home.

Across B.C. and Canada, recent reports show that females are more likely than men to be first-time homebuyers. Courtesy of: M.J. Whitemarsh is chief executive officer of the Canadian Home Builders’ Association of B.C. A new HGTV Canada show called Buy Herself premièred April 16 to show how single women have shifted from being a […]

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Scotia to buy ING

The gods may be listening to brokers with channel lender Scotia announcing it has reached a definitive agreement to purchase ING Direct Canada. “ING DIRECT has had proven success in meeting the needs of those Canadians who are not looking for the added services, advice and relationships provided by traditional banking channels,” said Rick Waugh, […]

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Young Buyers and Immigrants to Buoy Real Estate

A large bubble of people in their prime home-buying years, coupled with an influx of immigrants, is poised to support Canada’s housing market for the next decade, a major bank economist said Thursday. Benjamin Tal of CIBC put out a report on Thursday in which he argued that Canada’s population demographics are working in favour […]

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Home-ownership levels are rising in Canada

With home-ownership rates headed for record levels and the federal government tightening lending rules to cool the market, the question now is whether we have reached the saturation point. Bank of Nova Scotia economist Adrienne Warren says that when the latest census figures come out next month she expects us to be in the elite […]

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Is Western Canadian Real Estate Becoming Unaffordable?

This article points out the well known fact real estate prices in Western Canada over the past decade have stretched consumers. Will prices come down with new mortgage rules and a slowing economy? Three of the four most expensive Canadian cities in which to buy a home are in the West. Vancouver leads the way, […]

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Bank of Canada Mark Carney held rates steady Tuesday.

OTTAWA — The Bank of Canada acknowledged Tuesday that the weakening global economy is slowing growth in this country more than previously thought, but it still expects moderate growth. To no one’s surprise, the central bank held its key interest rate at a near-historic low of 1%, where it has been since September 2010. What […]

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New Mortgage Rules – What do they really mean…

The new mortgage rules effective July 9th will have an impact on some buyers and those who need to refinance their home. This is the governments way of getting us to control spending with respect to home ownership – which is a good thing. However, be careful when reading everything on the Internet, the news […]

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New Mortgage Rules – how will they affect investors?

Every time the mortgage rules change we read information on the Internet and in the media. I receive calls from people asking me specifically how the rules will impact them and I encourage everyone to contact their mortgage planner (my phone and email are always on). Unfortunately the media do not always make it clear […]

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Government to lower amortization, LTV on refis … again

By Vernon Clement Jones | 20/06/2012 7:10:00 PM | 11 comments The reprieve Canadian brokers thought they had is no longer, with the Finance head confirming he will now lower the maximum amortization on an insured mortgage to 25 years and cap refinances at 80 per cent of a home’s value. But there’s more, Jim […]

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