First mortgage: Fixed or variable? – Ask a Vancouver Mortgage Broker

Your first mortgage is one of the most important financial decisions you’ll ever make. Bruce Sellery recommends running the numbers on various options before you make that big decision. I am a first time home buyer and need a mortgage. The house I’m going to buy will cost about $400,000 and I am putting 10% down. […]

BoC hints at rate hike

  The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus. “In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential,” writes the Central Bank in […]

The BoC’s Coté On Risk & Household Debt

The BoC’s Coté On Risk & Household Debt Since the credit crisis, theBank of Canada has stepped up efforts to quantify the risk lurking in our financial system. Deputy Bank GovernorAgathe Côté spoke about this Tuesday. She explained how the BoC models risks and provided the following factoids on Canadians’ debt exposure. She said: “…While record-low interest rates in […]

One Year Fixed Rate Mortgage – Low Rate Mortage

Low Mortgage Rates on your Mind? Consider the One-Year Fixed Rate Mortgage In recent years we’ve heard quite a bit of talk from economists, banks and even Mr. Flaherty himself about the direction of mortgage rates; we were told they could only go up. But contrary to what market pundits were saying, mortgage rates fell even further. The […]

Carney warns falling oil price could grease economy’s slide

JEREMY TOROBIN OTTAWA — The Globe and Mail Published Tuesday, Jul. 17 2012, 9:09 AM EDT Last updated Wednesday, Jul. 18 2012, 7:34 AM EDT The Bank of Canada is adding the downward drift in prices for oil and other commodities to its catalogue of threats to economic growth. In a one-page statement on his latest interest-rate decision Tuesday, […]

Interest rates to remain low into 2014: CIBC

The CIBC says Canadians may enjoy historically low interest rates into 2014. The bank released its new outlook for the global and Canadian economies, and all indicators point to weakening conditions and rising risks. It says Canada’s economy will barely keep its head above water with growth rates of 2.1 per cent this year and […]

Simulating Economic Hazards

Rising indebtedness has elevated concerns about the ability of borrowers to cope with economic stress. The Bank of Canada (BoC) weighed in on this topic last week. In its semi-annual Financial System Review, the BoC performed a variety of simulations to estimate how job losses and rate hikes might prevent some people from paying their mortgage. Here are some […]

Canada to skirt global turbulence, record healthy growth this year: RBC

OTTAWA — A new outlook from the Royal Bank predicts Canada’s economy will skirt the global economic turbulence and rebound strongly from a slow start to the year. The RBC’s new quarterly forecast anticipates the economy will rebound to 3.1% growth during this quarter, which ends in June, and record a 2.6% gross domestic product […]

Mortgages: Nail the right term length the first time

Canadian Mortgage Trends editor Robert McLister kicks off his first in a weekly series of columns for the month for The Globe’s Home Buying sitewith this look on the best – and worst – mortgages terms out there. Finding a good mortgage rate online is a cinch. Anyone who has ever looked for rate comparison sites knows […]

Consumers rein in debt burden, but housing ‘overshooting’: CIBC

Canadians consumers are reining in their debt burdens amid repeated warnings on household borrowing from Bank of Canada Governor Mark Carney and other policy makers. The growth of consumer debt has eased as of March, rising at the slowest pace since 2002, Canadian Imperial Bank of Commerce(CM-T70.03-0.63-0.89%) said Wednesday. “For the first time in more than a […]

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