2013 housing sales off to better start than expected – Consult with a Vancouver Mortgage Broker

Canadian Press | 13/06/17 |  Sorry to inform you, but ‘The Great Real Estate Crash of 2011…no…2012…no…2013′ has been postponed OTTAWA — The number of Canadian homes sold so far this year is slightly higher than projected and it looks as if 2014 will show a rebound, according to a new forecast by the Canadian real estate industry’s […]

The case for locking in your mortgage – Consult with a Vancouver Mortgage Broker

ROB CARRICK – The Globe and Mail You can’t go wrong if you respond to this week’s mortgage rate increases by locking in for five or 10 years. But at least consider the alternative: Variable-rate mortgages sound risky in today’s volatile interest rate environment, but they’re actually a quiet corner of the mortgage world right now. We’ve […]

Taxpayer-free housing finance change coming to Canada – Ask a Vancouver Mortgage Broker

Finn Poschmann, Special to Financial Post  The Bank of Nova Scotia, a few days ago, received permission from the Securities and Exchange Commission to market to U.S. retail investors what are known as covered bonds. In pursuing SEC approval for market access, Scotia was following a trail blazed by the Royal Bank of Canada; market […]

TD Joins RBC in Raising Fixed Rates – Ask Adil Virani – Vancouver Mortgage Broker

TD Joins RBC in Raising Fixed Rates  By Rob McLister, Editor, CanadianMortgageTrends.com” After cutting advertised rateslast week, TD Canada Trust has followed RBC’s leadin lifting rates back up. Like RBC, TD is raising its advertised: 4-year fixed …by 10 bps to 3.09% 5-year fixed …by 20 bps to 3.29% These changes take effect Tuesday, June 11. And if history is a guide, they’ll likely be matched by […]

The Gen Y Reality: Expensive to Live, Easy to Spend, Struggle to Save – Ask a Vancouver Mortgage Broker

TD research finds high cost of education, lower salaries and high debt load biggest barriers to saving for 20-somethings today compared to 40 years ago.  TORONTO, June 11, 2013 /CNW/ – According to new research from TD Canada Trust, more than a third of Gen Y (34%) admit they find it an almost impossible struggle […]

Spring puts bounce back in Canadian home prices – Consult with a Vancouver Mortgage Broker

TORONTO — Canadian home prices jumped in May from April as a spring rebound in real estate continued in most cities, offsetting a couple of weak markets, the Teranet-National Bank Composite House Price Index showed on Wednesday. Upbeat new housing numbers could be ‘last hurrah’ New housing already purchased and in the pipeline continues to […]

Evidence mounts of soft landing for Canada’s housing market – Consult with a Vancouver Mortgage Broker

You’d have to see rates move dramatically higher for a major correction Canada’s housing market is showing signs of a soft landing amid evidence of robust demand and buoyant new construction plans. Home prices in Toronto, Canada’s most-populous city, rose 5.4% in May from a year ago, the biggest increase in five months, the Toronto […]

In a nation of borrowers, savings on the rise – Consult with Vancouver Mortgage Broker

Are Canadians switching from a nation of borrowers to a country of … savers? New numbers suggest they are. The household savings rate in Canada rose to 5.5 per cent in the first quarter of this year, according to GDP data released last week by Statistics Canada. That’s now well above the U.S. rate, which […]

Bank of Canada Rate Biases – Consult with a Vancouver Mortgage Broker

Bank of Canada Rate Biases When the Bank of Canadatalks rates, analysts hang off of every word. They pay special attention to biases in the Bank’s wording (i.e., which way the Bank is leaning on interest rates). The media loves to pump commentators for predictions on whether the BoC will keep its rate “bias,” not keep its bias, […]

Yields Spike. Fixed Rates May Follow – Ask a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com   Yields Spike. Fixed Rates May Follow If you’re house hunting or thinking of refinancing, and you don’t have a mortgage rate hold, consider getting one. Canada’s 5-year bond yield just pierced a 3-month high. That means—barring a big reversal—there’s a good likelihood that fixed rates will ratchet higher. (Bond yields steer fixed […]

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