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Monday, February 10th, 2020

CMHC admits ‘data gap’ in foreign ownership of Canadian real estate

The president of Canada Mortgage and Housing Corp. acknowledges there may be a “data gap” when it comes to the degree of foreign ownership in the marketplace, as debate swirls over whether overseas buyers are inflating house prices in markets like Vancouver and Toronto. Tracking foreign buyers in Canada’s housing boom: Can we do it? […]

Credit cards: Managing your credit rating – Consult with a Vancouver Mortgage Broker

By: Kristin Kent Special to the Star, Published on Fri Apr 05 2013 “I’m definitely not an impulse shopper. I suffer from deep buyer’s remorse; if I don’t have the ability to pay it off, I’ll fret over it. If it’s a large sum of money, I’ll fret over it. I keep delaying big purchases, because I’m looking […]

IRD Clarity Has Cometh – Ask a Vancouver Mortgage Broker

IRD Clarity Has Cometh In March 2012, the Financial Consumer Agency of Canada(FCAC) announced improvements to the disclosure of mortgage prepayment charges. Those improvements were designed to make life easier for people needing to assess the cost of an early refinance or mortgage termination. The first set of enhancements arrived by last September. Among other things, they required banks to […]

Your bank mortgage: Is it fair and does it suit your needs? – Ask a Vancouver Mortgage Broker

Banks operate under the scrutiny of government watchdogs. But when it comes to mortgages, those watchdogs don’t watch everything they could. “Individual (bank) mortgage reps operate outside of regulatory boundaries which commonly govern licensed professionals,” says Samantha Gale, a former mortgage regulator with B.C.’s Financial Institutions Commissionand chief executive officer of the Mortgage Brokers Association of British […]

Banking watchdog backs off its get-tough approach to mortgage lending

By Susan Pigg Business Reporter Ottawa’s banking watchdog has backed down on one of its toughest proposals for reining in household debt — making sure that Canadians’ credit risk is evaluated every time they renew their mortgages. In an unusual “interim update” of tighter lending guidelines it hopes to issue this summer, the Office of the Superintendent […]

Visa Launches Video Game to Help Educate Youth on Balancing Savings with Prudent Spending to Reach Financial Goals

  Game launch coincides with sponsorship of financial literacy panel at International Economic Forum of the Americas Conference of Montreal, underscoring Visa‘s ongoing commitment to educating Canadians on financial literacy   (Toronto, ON) – June 12, 2012 – Today, Visa Canada is launching a dynamic educational video game called Money Metropolis that teaches youth the basics of […]

Banks got $114B from governments during recession

Canada‘s biggest banks accepted tens of billions in government funds during the recession, according to a report released today by the Canadian Centre for Policy Alternatives. Canada’s banking system is often lauded for being one of the world’s safest. But an analysis by CCPA senior economist David Macdonald concluded that Canada’s major lenders were in […]

Pros and cons of a mortgage broker

When Chris Vale and his wife Keli Hines bought a home in Oshawa, they arranged a mortgage through an in-house firm their real estate agent’s company had. “We were told, ‘Here’s the rate and here’s what you pay,’ ” Vale recalls of the transaction, which took place several years ago. Then Vale met mortgage broker […]

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