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Entries in Mortgage & Finance (66)

MISSING NUMBERS

Canada's financial leaders are under pressure to provide a clearer picture of the housing market, in the face of conflicting opinions about the health of a sector that is crucial to the national economy.
 
The issue came to the forefront Thursday after Canadian Imperial Bank of Commerce economist Benjamin Tal released a strongly worded note, titled "Flying Blind," in which he said "the gap between the importance of the real estate market to the economy and the lack of publicly available information on it is mind-boggling."

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Posted on Friday, April 4, 2014 at 03:04PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

Mortgage costs set to rise as CMHC leads premium hike

Canada Mortgage and Housing Corp. has raised mortgage insurance premiums for the first time since the 1990s, and signalled more hikes could be on the way.

The increases, which will apply to policies that are obtained from May 1 onward, amount to about 15 per cent on average. The move was quickly copied by rival mortgage insurer Genworth MI Canada Inc.

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Posted on Friday, February 28, 2014 at 11:32AM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

Mortgage matters: are you getting the best deal? 

Melanie McLister is answering tough questions from mortgage consumers.

“It used to be, ‘What’s the best rate?’ Now they are asking about prepayments, blended increases, port features, penalty calculations,” says McLister, mortgage planner and coowner of RateSpy, a mortgage rate comparison website.

“There’s been a really big push to help homeowners understand the terms and conditions of their mortgages, and I think it’s actually getting through,” she says.

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Posted on Saturday, February 22, 2014 at 03:00PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

Falling rates, BoC’s stand puts housing spotlight on Flaherty

For the past few years, the Finance Minister has been trying to prevent Canadian house prices and consumer debts from rising too quickly – without causing a major slump in the real estate market that would hurt the economy. Four times, he has changed Ottawa’s rules governing mortgages to reel in overheated home prices.

It was expected that higher interest rates would do the rest of the work. But that’s now in question, after the Bank of Canada pushed out the timeline for raising short-term rates. Longer-term rates are falling too: The yield on five-year government bonds has fallen from 1.9 per cent to 1.72 per cent in the past 10 days.

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Posted on Saturday, October 26, 2013 at 10:30AM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference

Tools and research open the door for Canada’s first-time homebuyers

The first-time homebuyeris one of the primary engines of the real estate market in Canada – without them, it becomes impossible for mid-level buyers to move up the real estate ladder, leaving even higher-end properties to languish on the market.

A stricter regulatory environment has reduced affordability and introduced some barriers, so first-time buyers’ success increasingly depends on setting out on their home search armed with the tools, advice and strategies.

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Posted on Friday, October 25, 2013 at 12:34PM by Registered CommenterElaine in | CommentsPost a Comment | References1 Reference
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