Economic recovery is ‘solidly entrenched’: BoC Paul Vieira, Financial Post  OTTAWA — After months of uncertainty, the economic recovery now appears to be “solidly entrenched,” the Bank of Canada said Tuesday, indicating its forecast for growth should unfold as envisaged. Still, in its latest interest rate announcement, the central bank reiterated, as expected, its conditional […]

The Bank of Canada has reiterated its conditional commitment to keep that rate until mid 2010.  Please see below for the full report. One of our clients contacted us to help them with an a mortgage review this week and we saved them $1,300 dollars a month $ 15,600 a year and over the 5 years $78,000.00 in interest alone. This will […]

Bank of Canada to keep rates low, uphold outlook By Louise Egan OTTAWA (Reuters) – The Bank of Canada is widely expected to keep its hands off interest rates on Tuesday, holding them at near zero and committing to do so until at least July, despite growing evidence the economy is kicking back to life. […]

By Garry Marr, Financial Post November housing sales across the country are set to reach new highs based on fresh data from the country’s two most expensive markets. The national numbers from the Ottawa-based Canadian Real Estate Association are not due out until mid-December but the Toronto Real Estate Board said yesterday it had its […]

      December 2009   Angela CallaDominion Lending CentresPhone: (604) 802-3983Cell: Fax: E-mailWebsite   DID YOU KNOW… While most Canadians spend a lot of time, and expend a lot of effort, in shopping for an initial mortgage, the same is generally not the case when looking at mortgage term renewals. Omitting proper consideration at […]

Mortgage brokers should prepare borrowers for higher interest rates: experts By Kristine Owram (CP) – Nov 23, 2009 TORONTO — Interest rates aren’t going up any time soon, but when they do the rise will be rapid enough to potentially prove devastating for homeowners who aren’t prepared, mortgage industry experts say. Because of this, mortgage […]

It’s getting harder to buy a home in B.C. as an increasingly hot real estate market pushes prices higher, according to an RBC report on housing affordability released Wednesday. “We’re talking about a very expensive market in Vancouver,” RBC senior economist Robert Hogue said in an interview. “Mortgage payments there take a much bigger chunk […]

Bond Yields Approaching Key Lows People shopping for a fixed-rate mortgage can do the happy dance.  Government bond yields keep plunging, and that’s pulling down fixed mortgage rates. The 5-year yield (a barometer of 5-year fixed mortgage pricing) has broken through key 4-month support levels.  The 2-year yield has given up almost all of its […]

B.C. housing affordability deteriorates as Vancouver market surges forward: RBC Economics TORONTO, Nov. 25 /CNW/ – B.C. posted the biggest increases in homeownership costs in the country in the third quarter and costs will likely remain well above long-term averages, according to the latest housing report released today by RBC Economics. “While all provinces and […]