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Moody’s cuts ratings on Italy, Portugal and Spain and RBC at risk of two-notch downgrade.

Mortgage News:

  • Canadian Govt Bond yilds moving up – Chart
  • The debate over Canadian debt data Globe and Mail
  • Mortgage brokers undercut banks – National Post
  • FirstLine sale represents opportunity: Murphy – CMP
  • Home Trust making money – CNW
  • Handle lines of credit with care – Globe and Mail
  • Toronto Bubble Risk Tops New York in Condos – Business Week
  • TD boss edgy about consumer debt levels – Montreal Gazette
  • Industrial Alliance Reports its 2011 Financial Results – Robust Results Dampened by Low Interest Rates – CNW
  • Canadian dealers see next BoC rate hike in 2013 – Reuters
  • Real-estate News:

  • CMHC sees steady housing market ahead – Toronto Star
  • Housing Demand in Ontario Will Moderate but Remain Steady in 2012 – CMHC
  • Toronto Bubble Risk Topping New York in Market for Condominiums: Mortgages – Bloomberg
  • Home prices to rise slightly in 2012: CMHC – Reuters
  • Canadian home sales pull back in January – CREA
  • Housing cools as sellers hold back – Globe and Mail
  • The Toronto housing market comes to an early boil – Globe and Mail
  • Housing crutch abandoning banks – Financial Post
  • The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011 – TREB
  • GTA real estate: Average price nudges $500,000 – Toronto Star
  • Buyers out in the cold – Montreal Gazette
  • Never buy a house without a home inspection – Toronto Star
  • Financial News:

  • What it means when a country defaults – CBC
  • Think Canada’s unemployment rate is on rise? Think again – Globe and Mail
  • Carney, Flaherty say proposed US bank crackdown could sideswipe Canada – Toronto Star
  • Ontario report urges austerity to tame deficit – Reuters – on Drummond report.
  • Moody’s may downgrade 17 banks, securities firms – Reuters
  • Fee income to buoy Canadian banks: CIBC – Financial Post
  • RBC covered bonds to remain strong despite ratings review: Moody’s – Financial Post
  • Canada January Inflation Unexpectedly Quickens to 2.5% on Food, Gasoline – Bloomberg
  • RBC criticizes Moody’s review – Calgary Herald
  • Other News:

  • US Mortgage Loan Delinquencies Increase for Second Time Since 2009 – TransUnion
  • Fed approves Capital One acquisition of ING Direct – Associated Press
  • Scotch, Cars And Mortgages – Greg Williamson
  • Should you remortgage or take out a secured loan? – My Own Advisor
  • Citigroup pays $158M to settle mortgage fraud – AP
  • Foreclosure abuse rampant across U.S., experts say – Reuters
  • TransUnion to be acquired in $3B deal – AP
  • Deal or disaster? – Calgary Herald
  • Quote of the week:

    The “way everybody does it” in the car business is to stretch out the length of the loans and lease ?payments so as to offer the lowest monthly payment as a means of getting people to buy from them.

    – Greg Williamson – via his blog post.

    Thanks for reading. Have a good weekend.