After grinding steadily higher throughout the day yesterday, the TSX index is headed for its sixth consecutive weekly gain. The S&P500 is also in positive territory for the week, but just barely. Better than expected scorecards from GE and Citigroup are helping lift spirits this morning, as well as a surprising jump in consumer sentiment south of the border. Inflation in Canada continues to b ...
Bond yields rise in the face of decent economic data, the 5-year yielding is 1.93%. This could move fixed rates up, get your pre-approval! Most lenders will give a rate hold for a 120 days.
The Canadian 5 yr bond yeild had its largest drop since September. The fixed mortgage rates generally follow the bond market so this is great news for fixed rate mortgage shoppers!
Most lenders followed the bond drop by lowering their 5 yr fixed rates. The lowest 5 yr fixed rate we have seen today is 3.99%.
BMO economist, Sal Guatieri, says, recent rate cuts have "led to the best housing affo ...
November 12, 2008
Don’t quite believe that $0 down and 40 yr amortization is completely eliminated. The 40 yr amortization is still available if you put 20% or more down payments. Also, Wells Fargo is still offering the $0 down mortgage as they self insure their mortgage and do not use CMHC. There are also other options if you do not have a down payment, such as cash back mortgages or borrowi ...
Im at starbucks at Electric Ave with Ian Watt www.ianwatt.ca
February 1, 2009 Fixed vs Variable - by Chantel Chapman Rates are at an all time low but you may be wondering which rate will produce the most savings- the fixed mortgage rate or the variable/ floating mortgage rate? Fixed mortgage rates do not change over your term no matter what the rates are doing in the economy. The fixed rates give owners a piece of mind by eliminating ... |
December 5, 2008 Making sense of today's housing market-The local slowdown should not be confused with the collapse in the U.S. -By Dave Watt Low prices are not the concern as much as the view that prices are falling. Buyers are waiting to see of the real estate market has hit bottom. Identifying the "bottom" of a market is difficult, given that certain variables must remain con ... |
October 17, 2008
Credit markets still on life support Central bank expected to unveil new measures to spur lending as small firms fret over cash flow
RITA TRICHUR
DANA FLAVELLE
BUSINESS REPORTERS
Economists, meanwhile, suggest the Bank of Canada could slash its key overnight interest rate Tuesday by as mu ...
November 12, 2008
Ottawa Pushes to Get Credit Markets Working
Jim Flaherty, the Governor of the Bank of Canada, announced that they would add $50 billion to its mortgage purchase program. He has also agreed to slash the price the government is charging to Canadian banks to insure their wholesale lending. At the same time, the Bank of Canada is injecting another $8 billion into money markets o ...
October, 13, 2008
The sky isn't falling, so it's no time for Ottawa to overreact
Is there a subprime mortgage problem in Canada? Only 5 per cent of Canadian mortgages are rated "high risk," compared to more than 50 per cent in the U.S.
What about homeowner equity? On average, Canadian homeowner equity is about 70 per cent, while U.S. homeowner equity has been in freefall, to less than 45 per ...
