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March 9, 2010
March 9, 2010
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1 Year Closed : 2.30 % 3 Year Closed : 3.25 % 5 Year Closed : 3.69 % |
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News & ArticlesBank of Canada maintains overnight rate target at 1/4 per cent - Tuesday, March 02, 2010 OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quart ... Read Full Article New Mortgage Lending Rules - Thursday, February 18, 2010 New Mortgage Rules On April 19 our government will lay down three major rule changes to "prevent" a housing-price bubble and keep homeowners from getting "overextended." These new rules apply to government- ... Read Full Article New mortgage rules introduced to lessen mortgage crunch risks: sources say - Tuesday, February 16, 2010 OTTAWA - The federal government is expected to announce new rules Tuesday that would make it more difficult for first-time buyers to enter Canada's hot housing market. Sources have told The Canadian Press that Finance Minister Jim Flaherty is re ... Read Full Article Canadian banks step carefully towards U.S. expansion - Thursday, February 04, 2010 Some of Canada's largest banks are planning expansion in 2010 but are treading uncharted waters carefully as U.S. economic recovery remains "tepid." Executives from Toronto-Dominion Bank, Bank of Montreal, National Bank of Canada and the ... Read Full Article An interest rate hike this summer? - Wednesday, January 27, 2010 Globe & Mail - by David Rosenberg Don't count on it. For the Bank of Canada to raise rates before the middle part of 2011 would be totally inconsistent with its current forecastCanadian market watchers will get some good news this week. The p ... Read Full Article Economy will turn corner in 2010, survey says - Sunday, January 10, 2010 Although more than three-quarters of Canadians still believe we are in recession, more than half believe 2010 will be the year the economy turns around, a huge increase compared to 2009, an Economic Club of Canada/Pollara Strategic Research poll show ... Read Full Article New home prices rise 0.3 per cent in October - Thursday, December 17, 2009 OTTAWA - Prices for new homes in Canada rose 0.3 per cent in October after a 0.5 per cent increase the previous month. It was the fourth straight monthly gain in the federal agency's new-home price index, although the increase was slightly b ... Read Full Article Bank of Canada welcomes initiative to improve infrastructure for Canadian-dollar - Wednesday, December 16, 2009 OTTAWA - The Bank of Canada welcomes today's announcement by the Investment Industry Association of Canada (IIAC) that it has completed its selection process for a preferred vendor of central counterparty services for Canad ... Read Full Article Nationwide home resales leap 41% year-on-year - Tuesday, November 17, 2009 Nationwide home resale figures for October have hit a record high leaping 41.5% year-over-year, according to figures from the Canadian Real Estate Association (CREA). "Low interest rates and upbeat consumer confidence continue to release the p ... Read Full Article Housing market to improve in 2010: CMHC forecast - Tuesday, November 03, 2009 OTTAWA - Canada's national housing agency has upgraded its forecast for the new-housing market next year on the grounds that low mortgage rates will continue to make home ownership affordable, the economy will be better that previously thou ... Read Full Article Bank of Canada governor predicts sluggish growth, but says recovery is coming - Thursday, October 29, 2009 OTTAWA - Bank of Canada governor Mark Carney says he is confident private businesses will be in position to carry the economy forward once government stimulus spending winds down. Carney told a Senate banking committee Wednesday that he believes ... Read Full Article Basement developments a good investment: CMHC - Thursday, October 29, 2009 According to the Canada Mortgage and Housing Corp. (CMHC), homeowners across Canada are inclined to renovate their basements for many reasons, including family needs, improving safety, reducing energy bills and increasing the over ... Read Full Article Fixed or variable decision "much closer to call", bank report says - Tuesday, October 27, 2009 While variable-rate mortgages continue to beat out fixed-rates when it comes to cost savings, the gap between the two is likely to become closer due to the economic environment, a new bank report says. "Fixed rates were advantageous during onl ... Read Full Article Bank of Canada maintains overnight rate target at 1/4 per cent - Tuesday, October 20, 2009 OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. Recent indicators point to the start of a global ... Read Full Article Conference Board sees 4% bank rate in 2 years - Monday, October 19, 2009 The Conference Board of Canada said Friday (October 16, 2009) it expects the Canadian economy will grow 2.9 per cent in 2010 and the Bank of Canada will raise its target for the bank rate to four per cent by 2011.The rate is now 0.25 per cent and Ban ... Read Full Article Resales of Canadian Homes up 18 Percent in Third Quarter - Thursday, October 15, 2009 The Canadian Real Estate Association says sales of existing homes during the third quarter were among the strongest on record. National home resales through the Multiple Listing Service owned by Canada's realtors totalled 135,182 in the third q ... Read Full Article Consumer Confidence in Canada is on the Rise - Tuesday, October 13, 2009 The Conference Board says consumer confidence in Canada is on the rise, increasing for the seventh straight month in September. The monthly survey finds confidence rising in many of the key indicators, including sentiments among Canadians about the ... Read Full Article Accelerated Mortgage Payments - Smart People Make Them! - Monday, October 05, 2009 Why? Because it is the smart thing to do! Making accelerated mortgage payments can mean thousands of dollars in savings! Normally, your lender will require you to make monthly payments. These monthly payments will consist of both principal ... Read Full Article Pre-Approval Letter - Essential! - Friday, October 02, 2009 Once you have been pre-approved by the lender, they will provide you with a letter that will show you (and others) how much you are able to borrow. Here are 4 reasons why getting such a letter is a great idea! 1. To effectively house hunt, yo ... Read Full Article Can you afford to buy a home? - Thursday, October 01, 2009 Fall is often a great time to shop for a home. New home and condo builders are anxious to clear inventory and other sellers don't want to hit the winter real estate doldrums with a home that has been listed for months. With the recess ... Read Full Article TMG The Mortgage Group Canada Inc. Names Mark Kerzner President - Wednesday, September 30, 2009 One of Canada's Leading National Mortgage Broker Companies welcomes industry expert, opens Toronto office. Read Full Article Credit Score Disclosure - Tuesday, September 29, 2009 Pulling a credit score is one of the first things a mortgage planner does before submitting your application to a lender. Once the score is obtained, clients often wants to know what their score is. What many don' ... Read Full Article IMPP Expected to Continue - Monday, September 28, 2009 Last fall, when the credit markets were in near-panic mode, the government threw lenders a lifeline called the IMPP (Insured Mortgage Purchase Program). The IMPP allowed the government to buy up to $125 billion of insured mortgages.&nbs ... Read Full Article CMB Spreads Back to Normal - Thursday, September 24, 2009 At the height of last fall's credit panic, Canada Mortgage Bonds traded over 65 basis points above their regular government bond counterparts. That's significant because, like government of Canada (GoC) bonds, CMBs are supposed to be ba ... Read Full Article A 700 Credit Score Doesn't = Good Credit - Wednesday, September 23, 2009 There's more to a credit report than a score. You can have good income and a 700 credit score (which is about average) and still not qualify for a mortgage. The reason is that lenders generally look for one key factor: repayment ... Read Full Article |
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