Category: mortgage information

News and commentary on mortgages and real estate related matters.

Economists suggest rate hike imminent affecting variable rates

Another new item of news with mortgage implications has come out today: Pressure grows for Bank of Canada to hike rates In sharp contrast to my variable mortgage outlook from one day ago, this new article talks about very strong growth in the Canadian economy the past quarter, and how there is pressure to raise… Read more »

U.S. economy weakness helps keep variable mortgage rates low

This is one new article that came across my desk this morning: http://ca.news.yahoo.com/s/capress/100226/business/us_economy In summary, it is stating that the pace of growth for the US economy for the last quarter of 2009 was 5.9%, beating analyst estimates. Why is a mortgage broker writing a commentary on the US economy? I will tell you in… Read more »

Canada may require higher mortgage downpayments: report

http://ca.reuters.com/article/domesticNews/idCATRE5BK2FU20091221 I find this to be an interesting article. This is similar to what the government did last year with regards to requiring 5% downpayment and eliminating 40 year amortizations. At that time last year, although it made my job a little more difficult in terms of financing clients, I could understand why they did… Read more »

Low rates look safe for a while

Here is some good news for those in variable rate mortgages: Low rates look safe for a while Low interest rates and a rising Canadian dollar are giving strong hope that the Bank of Canada prime rate will stay low for the forseeable future.

National Post: Fixed or variable? Time to revisit

There is a new article in the National Post discussing whether home-owners should choose fixed or variable in todays economic environment. Fixed or variable? Time to revisit It is interesting to me that over much of the time I have been in this industry, there are always pushes by the banks and media towards fixed… Read more »