Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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Canadian mortgage market – a report by CAAMP

June 2014 - total number of Canadian Home owners by mortgage type
Canadian Mortgage Market - Outlook CAAMP publishes a regular report on Canadian mortgage market. The report made an argument that the mortgage regulation changes made in 2012 were detrimental towards housing market. The report pointed out that growth of residential mortgage demand is slowing down year-over-year. AccordingRead more

Bank of Canada has no news for Canadian borrowers

Canadian latest overnight lending rate and Prime bank rate - BoC
Canadian Interest Rates Bank of Canada, as usual, once more decided not to move its overnight target rate. The bank, Canadian central bank that is, controls overnight lending or short-term lending between Canadian financial institutions using target overnight rate. A low overnight target rate ensures that theRead more

Canada Guaranty changes rental income formula

There are various ways how rental income can be included in debt service calculation. The major Canadian mortgage insurers generally adapt to two methods. Rental offset Rental income Rental offset: Rental offset calculation method takes care of the rental expense minus rental income before it gets added

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Rate structure of lenders – a graphical guide for mortgage shoppers

In the confusing world of rates – how do you shop? To make it simple, the best way is to talk to a mortgage broker.

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Lower mortgage rate could not help Canadian housing affordability: RBC

According to RBC’s latest housing affordability report – despite of lower fixed mortgage rate Canadian housing affordability has worsened. An accelerated pace of the housing price has forced the cost of home ownership higher. Single family homes were the worst offender. Single-family homes in Canadian metropolitan cities

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Use of social media in financial industry [UPDATED]

Every financial service providers took a vow that they will have to have a strong presence in social media. So, they spent a lot of money, time and effort to make them known over social media. Following them, individual financial advisors also started playing the same game.

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Canadian homeowners are just fine – former Bank of Canada governor.

According to Mark Carney – former governor of Bank of Canada – in an interview with Sky News – Canadian homes are facing lesser amount of danger compared to the ones in United Kingdom. According to him, Canadian homes are 50% less in terms of valuation metrics

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Prime -1% variable rate mortgage is finally back

1.99% variable rate is back in Canada

Investor’s Group yesterday announced that they are introducing 101 basis points discount over prime rate on three years variable rate mortgages. That translates to 3% (Prime) minus 1.01% equals to 1.99% interest rate for three years – provided that prime rate does not change. Before 2010, Prime

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Do you really need a pre-approval?

For many home buyers out there, shopping in a tight market is a very stressful and difficult task. To add to that if the buyer does not know the limit of his or her borrowing ability then it is like a blind date. You may end up

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Canadian interest rate on a path to where?

Overnight Rate outlook SOURCE, BMO, TD, RBC, CIBC, Scotia

The weakest growth potential in the Canadian financial landscape belongs to Canadian overnight interest rate. Bank of Canada chief Stephen Poloz thinks that inflation rate is not going to show any sign of life this year. For inflation rate to return to its healthy self may take

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Cashback mortgage – pros and cons

Cash-back mortgages in Canada are somewhat popular among borrowers. For some borrowers, extra cash in their hand after closing the deal is a good choice. Not everybody look for a cash-back mortgage, rather some look for the best interest rate. Regardless of what they are looking for

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Lenders market share

If you are in the market for a mortgage, then where will you shop? Will you go to the top volume lender or to the most competitive lender? If you are doing your research about mortgage lenders business volume then the charts in this post should speakRead more
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