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Bank of Canada Holds Interest Rates Again
Here is the release from BCREA Economics Now: Bank of Canada Interest Rate Announcement - October 25, 2011 As was universally anticipated, the Bank of Canada opted to hold its target overnight rate at 1 per cent this morning. Ongoing uncertainty in the Read More...
CMHC Offers Another Downpayment Option: Flex Down
The Canada Mortgage and Housing Corportation, or CMHC, is now offering another down payment option to Canadian home buyers. This product, called Flex Down, offers buyers a "wider range of sources for their down payment such as borrowed funds and Read More...
Why Get Pre-Approved for a Mortgage When Rates are Falling?
I received a mortgage update email from one of my trusty mortgage brokers, Ray Mayer , just now and I thought the advice he gave was quite good and might be of interest to you. So I asked Ray if I could share it with you here and he said " NO! ". Read More...
Understanding the Differences Between The Canadian and U.S. Mortgage Markets
This morning my broker emailed me an article from a Scotia Bank newsletter. The title of the article is "Canada's Mortgage Market is NOT like the U.S." and I found it very interesting to see the fundamental differences in our Canadian mortgage Read More...
Bank of Canada Leaves Overnight Rate Unchanged Again
Last time the Bank of Canada (BOC) was expected to drop the overnight interest rate they did not . This time they were expected to leave it where it was at, and they did. Siting Three major developments are affecting the Canadian economy: the protracted Read More...
Last Week's News: Minimum 5% and Maximum of 35 Years
I was pretty busy last week and didn't get the posts out about the big news that the 40 year mortgages and 0% down option will be eliminated on October 15th, 2008. I don't have too much to add to the discou rse on this. I have not worked with Read More...
Bank Of Canada Does NOT Cut Interest Rates
Many had been expecting another rate from the Bank of Canada today, but low and behold they have decided to stick with the status quo. Here is the announcment from the BoC. Bank of Canada – Prime Rate Unchanged - 4.75% Since the April Monetary Policy Read More...
15 Vancouver Real Estate Myths In The News Today
Well, that's nothing new. Vancouver real estate is in the news almost everyday. The Vancouver Sun online has a story today titled 15 Real Estate Myths & Realities: The List. The article also includes the transcript of an interview by Christy Clark Read More...
Bank of Canada Cuts Interest Rates
The Bank of Canada cut it's overnight rate by 50 basis points,or 1/2 a percent, to 3% this morning. The major bank will most likey respond with a cut in their mortgage rates. The rationale for the cut was that: Growth in the global economy has weakened, Read More...
Bank of Canada Expected to Slash Interest Rates Again Tomorrow
RBC reported today that they: We look for the Bank of Canada to slash the overnight rate by 50 bps to 3% and expect the statement will reinforce policymakers’ concerns about Canada’s economic prospects given the sustained volatility in financial Read More...
RBC Affordability Report: Vancouver Real Estate is Still Unaffordable
RBC Royal Bank released their quarterly (is it really the 2nd quarter already?) housing affordability report today and the news is not good on the affordability front. The report starts out by saying: Nationwide housing affordability deteriorated in every Read More...
Canadian Interest Rates Cut by Half a Percent
The Bank of Canada has cut the target for it's overnight lending rate by half a percentage point today and the major banks have already started to respond by lowing their prime lending rate by an equal amount. This will help to spurr on the Spring Read More...
Interest Rates: Bank of Canada Cuts Overnight Rate Again
The Bank of Canada (BOC) cut their overnight by 25 basis point and the U.S. Federal Reserve cut it's overnight rate by 75 basis points. The BOC says they were prompted to do this as “further stimulus is likely to be required in the near term Read More...