Should mortgage shoppers choose the 1 or 5-year fixed rate? – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail Mortgage rate predictions are as often wrong as they are right. Yet, many mortgage shoppers believe that these forecasts give them an edge. Unfortunately, rate expectations sometimes prevent people from picking the lowest-cost mortgage. For instance, those who believe rates can only rise could ignore shorter terms. It […]

Carney shifts from housing bubble to sluggish growth – Consult with a Vancouver Mortgage Broker

Carney shifts from housing bubble to sluggish growth KEVIN CARMICHAEL AND TARA PERKINS   Mark Carney can taste victory in his long-running battle against a housing bubble. For the first time in a year, the Bank of Canada on Wednesday signalled comfort that Canadians are getting the message about taking on too much mortgage debt, […]

Thank Carney and horseshoes for Canada’s stellar performance – Consult with a Vancouver Mortgage Broker

Last Friday’s non-bubbly housing start numbers and weak employment data should not distract Canadians from two key points. First, after a short, sharp economic shock, Canada’s economy began its recovery in late spring 2009 and has hardly paused since. Second, in comparison with the U.S., the EU, and especialy the U.K, Canada’s performance has been […]

Bank of Canada signals no rate hikes anytime soon – Consult with a Vancouver Mortgage Broker

OTTAWA — While the Bank of Canada acknowledges the economic outlook here and elsewhere “is slightly weaker” than thought, policymakers are also offering up some hope for the near future. In a nutshell, Canada’s economy is growing at a slower pace than expected — although a pickup is likely later this year —and inflation remains […]

Why TD’s Ed Clark says Canada isn’t heading for a U.S.-style housing bust – Adil Virani Vancouver Mortgage Broker

Toronto-Dominion Bank has just come off one of its most profitable years ever. Its shares have nearly regained the ground they lost in the financial crisis and the country’s second-biggest bank is riding high on the Canadian consumer’s apparently insatiable appetite for debt. But how much longer can it go on? TD chief executive Ed […]

For the cheapest mortgage, go variable – As a Vancouver Mortgage Broker

The smart money’s long infatuation with the variable-rate mortgage has ended, perhaps a little hastily. A lot of homeowners have saved a ton of money with variable-rate mortgages, where your borrowing cost floats with your lender’s prime lending rate. The prime rate is in turn guided by the Bank of Canada’s overnight rate, which was […]

Bank of Canada holds rates, but keeps hike in its sights

OTTAWA — When Bank of Canada governor Mark Carney moves onto his new U.K. job in seven months, it is likely little else will have changed back home. Interest rates will still be at near-record lows, and the economy will be continuing to churn out less-than-stellar growth. That presents a problem for the central bank, […]

Canada’s Carney says rate hikes “less imminent” – Consult with a Vancouver Mortgage Broker

TORONTO (Reuters) – Interest rate hikes have become less imminent than the Bank of Canada once expected, although rates are still likely to rise, central bank Governor Mark Carney said in an interview published on Saturday. “Over time, rates are likely to increase somewhat, but over time, so a less imminent timing relative to our expectation,” […]

The end of mortgage growth? Not yet – Ask a Vancouver Mortgage Broker

Friday, November 2, 2012 BOYD ERMAN For all the talk of rule changes slowing the growth of the Canadian mortgage market, some surprising statistics from the Bank of Canada show that has not been happening in any significant way. Policy makers trying to cool the growth of household debt and home prices may not like […]

Carney on rates: no ‘imminent’ changes

KEVIN CARMICHAEL The Globe and Mail Published Wednesday, Oct. 24 2012, 10:37 AM EDT Last updated Wednesday, Oct. 24 2012, 7:41 PM EDT Interest rates may not head higher until well into next year, but Mark Carney wants Canadians to understand that their economy is unique in that it is “in an expansion, not a recovery.” The […]

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