23 May

OECD Calling For Higher Rates – Wellbeing of Canadians – Mortgage Flexibility

General

Posted by: Gerry Gillan

Canada ranks high in housing, safety and life satisfaction, OECD says By any measure – health, education, housing or income – Canadians are far better off than residents of the developing world.  But they’re also better off than many of the planet’s richest countries, according to the Organization for Economic Co-operation and Development’s latest quality-of-life […]

Read More
4 Apr

Rate Hike Worries – Self Employed Applications

General

Posted by: Gerry Gillan

Interest rate hike worries 4-in-10 homeowners  Four-in-10 Canadians would be unsure about whether they could afford their homes if their mortgage rate went up by as little as two percentage points, according to a new study from the Bank of Montreal.  The survey, compiled for BMO by Leger Marketing, found 43% believe an increase – […]

Read More
14 Mar

Penalties May Be Tax Deductible – Latest On Boc

General

Posted by: Gerry Gillan

BMO 2.99% Possibly Not So Attractive  Brokers may ultimately have to thank RBC for shooting holes in BMO’s 2.99% – the biggest of Canada’s big banks running ads critical of the no-frills mortgage.  “What good is a low rate mortgage without the frills?” asks an RBC full-pager running in a national daily. “Switch to RBC […]

Read More
22 Feb

First Time Buyer Tax Break – Home Prices Stable, Harder Qualification – Hottest Investor Market

General

Posted by: Gerry Gillan

Builders welcome tax credit for first-time homebuyers  A new BC tax break for first-time buyers of new homes will help stimulate the construction industry and create plenty of new jobs, an industry executive said of Tuesday’s 2012 provincial budget.  “This is welcome,” Greater Vancouver Home Builders’ Association President and CEO Peter Simpson said of a […]

Read More
1 Feb

No Housing Crash for Canada…CMHC Insurance Limits

General

Posted by: Gerry Gillan

Bankers and Brokers may be in agreement  A new survey suggests Canadian bankers may be less concerned about mortgage credit risk than they were two years ago or, indeed, the government is now, given speculation it will again tinker with the country’s mortgage rules.  While credit risk topped the list of concerns for Canadian bankers […]

Read More
18 Jan

Canada Housing Market BMO’s 2.99% Mortgage No BOC Rate Change

General

Posted by: Gerry Gillan

Flaherty keeping wary eye on housing market  Finance Minister Jim Flaherty says he stands ready to intervene in the housing market again, just as a mortgage price war breaks out among Canada’s major banks.  Flaherty said Tuesday that he’s watching the market closely, although he has no plans to tighten the market again at this […]

Read More
12 Jan

Recession Or Not? No Rate Hikes In Sight!

General

Posted by: Gerry Gillan

Canadians think we’re in a recession, but economists don’t  A surprising majority of Canadians – 70% of them – say the country is in the middle of an economic recession, even though economists will tell you Canada hasn’t been in one since 2009, and is nowhere close.  The results, from a new online survey sponsored by […]

Read More
14 Apr

News from Gerry!!

General

Posted by: Gerry Gillan

Industry News….   BOC ups growth, stands pat on rates   The Bank of Canada boosted its growth forecast Tuesday but threw a curve ball at Bay Street expectations for a July interest-rate hike by warning the “persistent strength” in the loonie could cause even greater headwinds for the economy. While some analysts still expect the […]

Read More