Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
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OSFI’s new boss – Jeremy Rudin

Minister of Finance Joe Oliver today announced appointment of new Superintendent of Financial Institutions Jeremy Rudin. He will be replacing Julie Dickson. Mr. Rudin holds a B.A. from the University of Toronto, an M.C.R.P. from Harvard University, and a Ph.D. in economics from Stanford University. Mr. Rudin

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CPP is not enough to fund your post retirement mortgage

Majority of Canadians are getting more and more into debt. In this process they are missing some key points of retirement planning. The most important of those all is savings. Be it in the form of RRSP of TFSA or plain old savings account – we are

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How to deal with future higher rate – Lenders re-take on penalty (may be?)

A lender makes money from interest on the loan and/or early breakage penalties paid by a borrower. If a borrower is stubborn not to pre-pay the mortgage before its maturity then the banks only earning is from the interest and some fees. Not all the home owner

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Should Canada lay off CMHC?

Canadian five years bond yield 10 years chart Nov 13

Inflation has been performing under the normal level for a long time. Bank of Canada with their so called monetary stimulus failed to revive inflation to a healthy level. Beside weak inflation, strong housing is another serious threat to our economy – if it is in a

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Regulators are watching Canadian housing and mortgage market

OSFI does not try to forecast about current state of Canadian residential mortgage market nor its future. It observes the market closely and is ready to take corrective action, if necessary to protect the interest of consumers, depositors and the lenders. This was told by Superintendent Julie

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OECD, Fitch and Bank of Canada Chief have nothing in common

OECD is very optimistic about Canadian economy. It thinks that Canada is heading towards the right direction and it will get out of the current economic turmoil soon. It thinks that Canadian economy will attain its glorious 2% inflation target by the end of 2015. In its

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Low rates have no effect on lenders profitability

The last quarter for MCAN and Equitable was good. The housing activity bloomed late in the summer but it helped to inflate the residential lending of the lenders. As a result net income grew compared to 2012. Equitable Bank saw a whopping 24% jump in the Single

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Yield Curve Showing Momentum – Fix it if you can!

Zero coupon yield curve may not be an important chart for our daily schedule but when you are deciding what to do with the future of your mortgage then it comes handy. Yield curve is a reflection of the mind set of bond investors. It shows what

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US deadlock – Effect on Canadian Mortgage Market

The debate in US congress is still raging if to pass the law that funds several government programs. The existing law expires tonight and the political tug-of-war continues with the life of government employees at stake. This debate is not the end. Next political showdown will be

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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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No easing of quantitative easing – not yet

The US Federal Reserve Chairman Ben Bernanke did not want to withdraw stimulus from the market. There were recent speculations that feds may start to tighten the market soon – but that is not happening now – not till end of this year. According the US Federal

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No overnight rate change in 2013 – 0.5% raise in 2014: RBC

In a report RBC predicted that Bank of Canada overnight rate is not going to go up this year. The bank indicates that chance are the rate may go up by 50 basis points in second half of 2014 but that depends on Canadian GDP and household

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