Changes to mortgage rules immediatly

General Angela Calla 17 Jan

Flaherty tightens mortgage rules Paul Vieira, Financial Post · Monday, Jan. 17, 2011 OTTAWA — Finance Minister Jim Flaherty unveiled changes Monday morning to mortgage lending rules that would see Ottawa stop backing home loans greater than 30 years and make it more difficult for households to use their property to access financing. The changes, […]

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Potential Changes to qualification on Condo’s

General Angela Calla 14 Jan

Sources say rules now being discussed would add 100% of condominium fees to the list of expenses that is measured against income to decide whether a buyer can afford a mortgage. – Brett Gundlock/National Post The federal government’s efforts to get tough on borrowing are now focused on the condominium sector, with new rules in […]

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Expect loonie to stay at par with US

General Angela Calla 13 Jan

  Flaherty: loonie will stay at par with U.S. thanks to “sound” fiscal situation   By Lee-Anne Goodman, The Canadian Press   WASHINGTON – The Canadian loonie will hover at parity with the U.S. dollar for some time to come, and deservedly so thanks to Canada’s economic strength, Finance Minister Jim Flaherty said Wednesday.   […]

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If you have outside debt, a line of credit may NOT be best

General Angela Calla 11 Jan

Home-equity loans surge twice as fast as mortgage growth: BoC Paul Vieira, Financial Post · Monday, Jan. 10, 2011 OTTAWA — Home-equity lines of credit surged 170% over the past decade, or twice the rate of mortgage growth, a Bank of Canada deputy governor said Monday as she acknowledged keeping interest rates low “create their […]

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2011 housing market should be resilient

General Angela Calla 7 Jan

  Housing market should be resilient in 2011 thanks to low interest rates: LePage   Sunny Freeman, The Canadian Press   TORONTO – The Canadian real estate market will follow a similar pattern this year as that seen in 2010 as buyers pull sales forward into the early months in anticipation of higher interest rates, […]

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Mortgage rates can rise regardless of the BOC

General Angela Calla 4 Jan

Canada Housing Trust reduces sales of mortgage bonds | Friday, 24 December 2010  courtesy of mortgage trends With the country’s second largest debt issuer reducing mortgage bond sales this year and looking to continue the trend next year, mortgages for consumers may become more expensive.   Canada Housing Trust, the financing arm of the nation’s […]

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BC homesales rose 20%

General Angela Calla 14 Dec

  B.C. home sales rose 20 per cent in November from the previous month on a seasonally adjusted basis, reported the British Columbia Real Estate Association (BCREA).   “Improved economic conditions and low mortgage interest rates have contributed to a 46 per cent increase in home sales since July,” said Cameron Muir, BCREA chief economist. […]

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Bank of Canada maintains overnight rate target at 1 per cent

General Angela Calla 7 Dec

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 proceeding largely as expected, although risks have increased. As anticipated, private […]

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