Category: Mortgage Financing

Mortgage Financing- Bank Of Canada Announcement

Ottawa – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economy has unfolded broadly as the Bank projected in its October Monetary Policy Report…

New risks in the Canadian mortgage market.

– Interviews this fall with more than 2,000 Canadians indicate that those holding mortgages are comfortable with their debt, a majority plan to pay off their mortgage in less than 25 years, and at least one-third are taking advantage of current low interest rates to accelerate payments, according to the most recent survey report from…

Bank of Canada maintains overnight rate target at 1 per cent

Ottawa, Ontario – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economy has unfolded broadly as the Bank projected in its July Monetary Policy…

CMHC – housing stars slowed in September‏

Canada Mortgage and Housing Corp. says the pace of housing starts slowed in September, due mainly to a decrease in starts of urban apartments and condos. The corporation says there were 19,750 starts across the country in September. Extrapolating that over 12 months and adjusting for seasonal variations, the September number translates to an annual…

Breaking News: Ottawa cuts mortgage amortization to 25 years

OTTAWA — The federal government is moving once again to tighten mortgage lending rules, announcing Thursday it’s reducing the maximum amortization period for a government-insured mortgage to 25 years from 30 years. To read more, go to http://business.financialpost.com/2012/06/21/ottawa-cuts-mortgage-amortizations-to-25-years/

Press Releases – Bank of Canada

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The outlook for global economic growth has weakened in recent weeks. Some of the risks around the European…

Bank of Canada maintains overnight rate target at 1 per cent

The today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The profile for global economic growth has improved since the Bank released its January Monetary Policy Report (MPR). Europe is expected…

Aging population helping shape future housing market – CMHC

The Canadian Mortgage and Housing Corporation’s latest study on housing trends predicts that an aging Canadian population will help continue to drive demand for condominiums and smaller homes, institutional buildings such as old age facilities, as well as a lively market for renovators. The oldest of the baby boomer generation are now entering their retirement…

Bank of Canada’s announcement!

Ottawa –  The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Uncertainty around the global economic outlook has increased in the weeks since the Bank released its…

Bank of America: Canadian variable mortgage borrowers may face trouble

According to the recent report from Bank of America Merril Lynch, Canadian variable mortgage holders may face serious dangers. The report says there’s a large number of variable rate mortgage borrowers who are quite vulnerable to the potential rate hike. In addition to it, they suggest almost two thirds of all mortgages originated recently are…

Most Canadians comfortable with non-mortgage debt situation

TORONTO – Two seemingly contradictory reports evaluating national debt levels tell the same stark truths about the rising severity of the financial straits facing many Canadians, analysts said Wednesday. A poll released by the Royal Bank of Canada (TSX:RY) exposes the complacent attitudes that many Canadians have adopted as a result of months of rock-bottom…

Raising Variable Mortgage Rates

As predicted, on the heels of RBC’s announcement that they were raising variable mortgage rates, other banks have followed suit, with CIBC and BMO raising their variable rates as well. This initial rate hike from RBC came somewhat as a surprise to some, given the current economic environment- but many attributed the rate increase to…

Bank Of Canada Announcement – Rates to Hold, for Now

Although this is something Canadians are getting very familiar with, there is a distinctly different flavour with Mark Carney’s latest decision this morning to hold rates again- for the seventh consecutive time. In a press release this morning, they said: “The Bank of Canada today announced that it is maintaining its target for the overnight…

CMHC Survey Shows Homebuyers Taking the Time to Plan

OTTAWA, ON, June 22, 2011 — Canada Mortgage and Housing Corporation (CMHC) released its 2011 Mortgage Consumer Survey today providing insight into the attitudes and behaviours of Canadian mortgage consumers. The survey found that the internet continues to be a valuable resource for homebuyers. Among recent buyers using an online search engine, the most popular…

Today’s announcement from the Bank of Canada!

Hi Folks, Here is today’s announcement from the Bank of Canada! Ottawa – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economic recovery is…

BoC rate hike on hold until September: RBC

The Bank of Canada’s plan to raise interest rates and exit its stimulus program has been delayed to September due to renewed uncertainty about the fiscal crunch in Europe and its potential spillover effects into Canada, the team at RBC Economics said Tuesday. Dawn Desjardins, assistant chief economist with RBC, expects the BoC to maintain…