Ultra long term bonds that will mature in the end of 2064 were issued by the Government of Canada with a yield of 2.96%. According to the press release by the government – there are two major benefits – one is low cost long term refinancing and
Read more →Only a few weeks ago CMHC announced that it will be raising its mortgage insurance premium effective from May 1st 2014. What we did not anticipate that it is considering further restrictions. It was only a couple of days ago when we have learnt about its further
Read more →The result of a survey conducted by CIBC are presented here in charts. The overall home buyers preference may have nothing to do with individual situations. Each situation is different and should be treated on their own merits.
Read more →Apart from banks there are many financial institutions that can provide a borrower with a mortgage. Credit Unions are non-bank lenders. Credit Unions are provincially regulated. A list of Credit Unions operating in Ontario can be obtained from here. Federal Government has been actively trying to bring
Read more →Almost two years ago, OSFI introduced the idea of Residential Mortgage Underwriting for the lenders. It promised that there will be one for the insurer too. Now it has delivered on that promise. In its new B-21 guideline it has outlined the expectations for prudent residential mortgage
Read more →Bank of Canada today announced that it will maintain the key interest rate at 1% till first week of June. The bank expects that the economic conditions will improve in near future and slowly inflation will head North. For now housing is still in a very tricky
Read more →It is license renewal season for Ontario mortgage brokers and agents. This time of the year is also a busy season for the brokers. A lot of home buyers are searching for mortgage as they prepare to move into the new home coming spring and early summer.
Read more →Apart from Alberta, numbers of mortgage defaults or payment misses have remained steady for last two years. Average Canadian mortgage arrear rate has stabilized close to 0.3%. Actual mortgage rate stayed almost flat during this period. That suggests a close correlation between the two – interest rate
Read more →Mortgage rate and house price both are very much intertwined. Experts often argue about which one of the two influences the other. Actually it is impossible to say which of two things went down/up first or caused the other to surge/drop. So far, in last ten years
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