How factory-built homes are shedding their ‘cheap’ label and exploding in popularity

After more than three decades in her Toronto bungalow amid growing mildew problems in the 1940s-era home, Ruth Wiens decided it was to start fresh. Here we go again with dropping mortgage rates Falling bonds yields could push mortgage rates lower as banks compete in the spring housing market, the strongest real estate period of […]

Bank of Canada warns low inflation to persist into 2016

BARRIE MCKENNA–  OTTAWA — The Globe and Mail The Bank of Canada is warning that unusually low inflation pressures will persist into 2016 – a new forecast that could further delay future interest rate hikes and send the Canadian dollar lower. The currency plunged after the announcement, sinking to 90.3 cents U.S. by late morning. The central […]

Re/Max forecasts ‘exceptionally healthy’ real estate market in 2014

MISSISSAUGA, Ont. — Canada can expect an “exceptionally healthy” housing market in 2014 thanks to improvements in the overall economy that helped produce a surge in the latter half of this year, a leading real estate group said Wednesday. Can’t afford Canadian property? Downsize your home, upsize your storage locker With the condo market in […]

Bank of Canada drops rate guidance, lowers growth forecast

OTTAWA — There has been a sea change at the Bank of Canada. No longer are policymakers setting a specific monetary course for interest rates. Instead, for the first time in 18 months, they have dropped any reference to borrowing costs eventually rising — adopting a neutral position and waiting to see which way economic […]

U.S. Senate votes to end budget impasse, shifting focus to House

20:53:25The Senate voted overwhelmingly – 81 to 18 — to end Washington’s budget impasse, a result that will put added pressure on the House of Representatives to do the same. Republican House Speaker John Boehner confirmed earlier Wednesday that he won’t oppose the bipartisan budget compromise, signalling the end of Washington’s weeks-long fight over fiscal […]

U.S. and Canada are altering the way housing finance works so taxpayers aren’t stuck bearing the brunt of risks

Canada and the United States are both contemplating changes to the way we finance housing Last Wednesday Scotiabank sold the first Canadian bonds backed by consumer lines of credit in 12 years. The highly rated issue sold at market, according to a Bloomberg report, at an impressive 78 basis points over similar-term Canadian government bonds. […]

Bank of Canada’s Poloz upbeat about economic growth – Ask a Vancouver Mortgage Broker

Bank of Canada‘s Poloz upbeat about economic growth BARRIE MCKENNA AND BRENT JANG-  OTTAWA/VANCOUVER — The Globe and Mail Bank of Canada Governor Stephen Poloz is painting a brighter picture for the Canadian economy while tossing aside concerns over a housing bubble. Canada is on its “way home” to more natural economic growth as central banks prepare […]

No more tightening needed after measures averted housing bubble: Flaherty – Consult with a Vancouver Mortgage Broker

Finance Minister Jim Flaherty said he isn’t planning new measures to restrain the country’s housing market because his past four rounds of action have already worked to avoid a bubble. ‘A tale of two markets’: Condominium prices falling while low-rise homes continue to soar A housing crash based on the type of home you have? […]

Bank of Canada will raise overnight interest rate in July 2014: BMO economist

By: Alexandra Posadzki The Canadian Press, Published on Wed Jun 19 2013 The Bank of Canada is likely to start raising its benchmark interest rate in July 2014, a full year before the U.S. Federal Reserve, BMO’s chief economist Douglas Porter said Wednesday. Porter predicts the overnight rate will go up by half a percentage point, which could […]

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 […]

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