Canadian buyers face more competition as U.S. housing recovers

House prices in the U.S. are showing fresh signs of improvement, and market-watchers say the window of opportunity could be closing for bargain-hunting Canadians eyeing potential investment or getaway properties. As economic collapses go, the U.S. housing implosion ranks among the very biggest. As many as four million families lost their homes in a foreclosure […]

Why CIBC’s Mortgage Growth Has Stalled

The Financial Post ran astory this week suggesting that CIBC is retreating from consumer lending due to risk concerns. That was likely a stretch. The article was based primarily on one data point, percentage change in mortgage and household lending. Since CIBC has near-0% volume growth in the first five months of 2012—whereas the other Big 6 banks […]

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 […]

HELOC Countdown Begins

Those interested in a readvanceable mortgage (or HELOC), valued between 66% and 80% of their home’s value had best act with haste. Lending limits for home equity lines of credit (HELOCs) could start falling as soon as the end of August, according to some new information. A trusted mortgage broker in Vancouver can help provide […]

New investment hot spots emerge

Two B.C. cities are tops on a list of Canada’s investment hot spots, according to a recent report from Business Review Canada. The review broke down Canada’s regional economies by province, and then dug deeper to find emerging markets in small to mid-size communities ripe with opportunity for investors. When the dust had settled, the […]

45% of Canadians unprepared for emergency spending

CTVNews.ca Staff Published Monday, Aug. 13, 2012 8:15AM EDT Last Updated Monday, Aug. 13, 2012 5:31PM EDT A new poll for one of Canada‘s biggest banks reveals many Canadians don’t have a reserve fund set aside to cover unexpected emergency expenses. According to the poll conducted for CIBC, 45 per cent of Canadians have no […]

ING Direct Canada May be Sold- What will happen to Vancouver Home Mortgages Underwritten by ING?

ING Direct Canada May be Sold According to some sources, ING Direct Canada (ING), the top ranking online bank brand in the country may be up for sale. The question for many people in British Columbia has become, what will happen to Vancouver home mortgages underwritten by ING? This potential sale is not due to […]

The HELOC Clock Starts Ticking

If you want a HELOC orreadvanceable mortgageequalling 66%-80% of your home value, be ready to act soon. We’re hearing that some banks may start cutting back on their HELOC lending limits by the end of this month. These moves relate to OSFI’s new B-20 underwriting guidelines, which require federally regulated lenders to limit new HELOCs to 65% loan-to-value (LTV), from 80% […]

Ask a Vancouver Mortgage Broker for Latest Insurance Trends

Mortgage Insurance Trends For those interested in how the mortgage industry works, you could always ask a Vancouver mortgage broker. Otherwise, you might want to check out the quarterly reports and earnings calls for Genworth MI Canada. According to Genworth, new government restrictions will have an impact on the mortgage insurance market; the market will […]

Practical Amortization Choices

Shorter amortizations can cost you less interest and help you pay off your mortgage sooner. If that’s a revelation to you, then here’s another story you’ll appreciate: Shorter mortgage is money in your pocket Since we’re pointing out the obvious, we should also note that making a bigger down payment and buying a cheaper house save […]

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