Mortgage rule tightening on its way again

Extended amortizations like 30 and 35 years will soon be on the chopping block of the policy makers. These mortgages are not insured by the government but the regulators are still worrying about them. All the recent actions taken by the government are generally targeted for the

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Stagnant credit growth – Money is dead. Mortgage, HELOC growth will slow further

It is only about 10% of the money – that is created by the government. Rest of it come from various credit products offered by the banks or financial institutions. The industry grows the money by lending-deposit-lending cycle. Money is required to pump up nominal GDP. In

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More Canadians are saving for higher down payments

Canadian home buyers, specially the first timers are getting smarter in ditching the mortgage insurance premium. Ironically, mortgage insurer Genworth, along with Canadian Association of Credit Counselling Services (CACCS) conducted a survey about financial wellbeing and preparedness of Canadians, that revealed that Canadian first time home buyers

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When will mortgage interest rate go up?

What we are experiencing right now is not the right indicator of future.  What future has for us in its bag can be predicted (with median confidence) using some indicators. There are many factors which influence interest rate but only a handful of them have the most

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Protection of Residential Mortgage Insurance Act – Changes

Today Genworth reported that the new Canadian Protection of Residential Mortgage or Hypothecary Insurance Act (“PRMHIA”), which will come into force from January First, 2013 – will establish a legislative framework and will replace the current guarantee agreement with Government of Canada Genworth has. The new regulation

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New regulation will cost Canadian housing – Dunning

The fall edition of CAAMP survey report is out. This is an excellent piece of free information made available by Will Dunning, via CAAMP. A clear market trend forecast together with mortgage related statistics – this is a gold mine for someone who is looking for some

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A new Canadian Mortgage broker regulator partnership

Nine provinces in Canada have legislative and regulatory frameworks to govern mortgage brokers. Those provinces are Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland & Labrador, Nova Scotia, Ontario, Quebec, and Saskatchewan. Given the recent economic condition and slow pace of recovery the regulators think that it is

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