Category: Economic
The End is NOT Here
As Canadian consumer debt levels creep higher and higher, many articles have been written about how a U.S.-style recession is destined to hit Canada. That’s why it’s refreshing to come across the odd article that opposes this Chicken Little (the sky is falling) type view - like this one in the Montreal Gazette . The article [...]
Why Interest Rates are Edging up– just a bit!
We are seeing a little bit of upward pressure on mortgage interest rates. But this is not a bad thing! Read this article to see why we have seen recent hikes to 5 year fixed rates over the past few days with more lenders still to come.
Alberta has Most Affordable Housing in Canada
The latest Housing Trends and Affordability report released February 24th by RBC indicates that Alberta housing is not the most affordable in the country.
Count-down to New Mortgage Rules
With just a few weeks to go before the new mortgage rules take effect, do you know how they might affect you?
Bank of Canada Leaves Prime at 3%
As expected the Bank of Canada has kept prime at 3% for the time being. Learn why.
New Mortgage Rules for Canadians: What you need to know.
If your planning on purchasing a home, taking equity out of your existing home, or even applying for a Home Equity Line of Credit with your bank, there are some changes coming up for Canadians that you should know about and, depending on how they affect your plans, may bump up or push back your [...]
June Mortgage & Finance Statistics
June Mortgage and Finance Statistics. Variable rates have recently increased due to the Bank of Canada announcement. See the current Exchange rate, Government of Canada Bond rate, Housing Start data and MLS Resale price data.
Bank of Canada raises Variable Rates by 0.25%
The Bank of Canada raised interest rates by a quarter percent today bringing the benchmark rate up from rock bottom to 0.5%. This means that prime rate (off which variable rate mortgages and lines of credit are based) is now up to 2.5%. The bank was very careful not to suggest a lot of other increases in the near future.
Clarification to Government Rule Changes
The announcement by the department of finance on February 16th left some room for interpretation. CMHC has recently announced clarification to the announcement. Read for details.
Government Policy Changes
Policy changes by government can have a very positive, or a very negative effect on the economy and housing activity. The Department of Finance made some changes to the mortgage rules on February 16, 2010. See what they are and how they might affect you.
