Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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Interest rates may not wait for inflation to grow

Interest rate and inflation are generally like two sides of a coin. When one moves one way then the other side follows it. Although it seems to be a general norm but it may not hold ground for long. In 2008 during the financial meltdown Canadian government […]

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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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Smart Phone – Do you know what you share?

Use of smartphone is very wide spread now. More than half of the adult population use a smart phone.  Among many attractive features – a smart phone offers very convenient way to access financial information. Most of the big banks have their own apps for online banking. […]

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Why you may not like your bank


How a Canadian Identifies a Good Bank According to 4 in 5 Canadians – low or no fees is the definition of good banking.  6 in 10 Canadians – ready to leave their banks to save money.   Source:

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Quality not quantity – is more important now

National Bank has decided that it will pay equal attention to broker efficiency alongside business volume. Changes in bonus: It is introducing a change that will increase the existing Efficiency Bonus from next month. Existing Volume Bonus will take a ten basis point cut. National bank has […]

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What is a Mortgage Servicing Company

There are number of parties involved in a mortgage transaction. In the mortgage industry there are lenders and the sales people like brokers or lenders representatives – you usually deal with while you are shopping for your mortgage. What happens when the deal closes and you move […]

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What you need to know about income verification


To be able to make regular mortgage payment, a source of income is required. Without an income, debt can not be serviced – very basic concept. Banks, therefore, take income verification very seriously. Nothing more important than the borrower having a legitimate source of steady income. (Don’t […]

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Canadian Banks – 2013 – Q3 results


Canadian banks once more had a stellar quarter. Except TD (insurance losses) all other banks announced profit and distributed dividends. Please stay tuned – more will be coming up soon.

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Banks Earnings – random thoughts

Why interest rate change will not hurt banks earnings: Obviously, bank’s main earning is not dependent on interest rate. It is the spread between cost of borrowing (or funding) and cost of lending – that earns bankers their breads. If you look at the spread then it […]

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OSFI explains Balance Sheet Exposure on Capital Adequacy Requirements – Good for banks

Canadian banks – at present do not have a fixed capital ratio requirement. What they have is a mixed bag of guidelines imposed by OSFI. Since the last balance sheet meltdown, various BASEL committees were set up and they came up with ideas to regulate financial institutions […]

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Long Weekend Surprise from CMHC – Limiting the MBS ceiling at $350m for each bank


Somehow all the federal or federally regulated organizations like to let the rabbit loose from their hats before long weekends. CMHC followed the long venerated tradition this time too. On August 1st it sent a note to the lenders stating that it will be rationing its backstop […]

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Canadians Are Paying Their Debt Down But It Keeps Adding Up – Survey


More than four in five Canadian have debt, says a survey published by BMO – Bank of Montreal. In 2012 only seven in ten had debt but it went up by 15% in 2013. Mortgage is one of the main sources of debt for Canadians. More than […]

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