This is one new article that came across my desk this morning:
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 a second. (more…)
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 take those measures and I think things have worked out quite well in terms of stabilizing the Canadian real estate markets. (more…)
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. (more…)
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 rate mortgages, as this article appears to be intended for. The article seems similar in that while they always admit that over the long term, variable rate come out well ahead of fixed rates, the next words out of their mouths are “but that was before, and this is now.” (more…)
If you have ever taken out a loan, used a credit card or participated in a “buy now, pay later” offer, you will have a credit history. Your credit report contains personal information, credit information, banking information, public records (bankruptcies or credit related judgments against you), collection information, consumer statements and credit report inquiries.
Before 1970 there were about 150 regional credit bureaus that divided up the country, today there are really just 3 major bureaus: