Mortgage Bytes *The Bank of Canada should uphold its conditional pledge to keep its key policy rate at 0.25% until July but should then embark on sharp rate hikes of 50 basis points at every announcement date until mid-2011, says an analysis prepared for the CD Howe Institute.    *The call for sharp rate increases […]

New mortgage rules Paul Vieira, Financial Post with files from Garry Marr in Toronto  OTTAWA — Jim Flaherty, the Finance Minister, says he is targeting “reckless” speculators who buy up multiple condominium units in the country’s biggest cities with new rules introduced yesterday that will make it tougher for Canadians to get a mortgage. The […]

MORTGAGE INSURANCE RULES ANNOUNCEMENT This morning, Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. CAAMP and it’s members was actively engaged in the discussions around these changes which are as follows:  1. All borrowers must meet the standards for a five-year fixed rate […]

Garry Marr, Financial Post      Canadian real estate sales and prices are poised to set records this year, according to a new forecast that is bound to reignite calls in some quarters for tighter lending rules.   The Canadian Real Estate Association, which represents 100 boards across the country, said Monday it expects existing-home […]

Looks like a V shaped recovery afterall Paul Vieira, Financial Post  OTTAWA — Despite all the angst in financial markets over sovereign debt and the populist influence on banking reform proposals, the economies in the United States and Canada have chugged along the road to recovery at a pace that’s surprising even the most skeptical […]

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 forecast David Rosenberg Published on Wednesday, Jan. 27, 2010 David Rosenberg is chief strategist for Gluskin Sheff + Associates Inc. and a guest columnist for Report on Business Canadian market […]

If you find an inaccuracy in your credit report you will want to contact Equifax and Transunion at the number below and have a copy of your ID handy with the letters of confirmation of the inaccurancy to forward to them. Doing this as soon as an inaccuracy is found will help with the improvment of your credit […]

  OTTAWA – Canada’s economy is becoming more solidly entrenched with the private sector beginning to play an increasingly pivotal role in leading the country out of recession, the Bank of Canada said today in its latest policy report. In a mildly upbeat assessment of the recovery, the central bank’s quarterly outlook contains some upward […]

Does my reno qualify for a tax credit? Bryant Renovations at a Leslieville home where they’re renovating the bathroom and replacing the flooring of the main floor. Fred Lum/The Globe and Mail With days until deadline, Canadians scramble to take advantage of the government’s home renovation tax credit  Roma Luciw  Globe and Mail With the […]

Retirement: Three magic numbers by David Aston, MoneySense MagazineMonday, January 18, 2010provided by Nothing is more frustrating than trying to figure out how much to save for retirement. You know the amount you’ll need to save depends on what kind of retirement lifestyle you want. But how can you decide that without having some idea […]