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This is one of the most informative articles on quebec Housing economy published this year. The FCIQ released the latest Window on the Market newsletter, in the section "A word from the Economist", this month's issue discusses the price increase in Quebec's market since the 1980's until the present date (and then some forecasts). Get the ultimate answer to the perennial question: How … [Read more...]
An article by the Canadian Press: Several of Canada's big banks announced increases in their residential mortgage rates effective Tuesday. Royal Bank (TSX:RY), TD Bank (TSX:TD) and Laurentian Bank (TSX:LB) all raised the posted rate for a five-year fixed-rate mortgage by 0.15 percentage points to 5.54 per cent. Royal Bank raised its special offer rate for a five-year mortgage by 0.15 … [Read more...]
Bank of Canada governor Mark Carney raised the overnight lending rate a 0.25% point on Wednesday morning. CTV News reports: The decision marks the third straight month that the central bank has boosted the rate, which was set at a rock-bottom 0.25 per cent during the recession. The overnight lending rate affects short-term borrowing, such as variable-rate mortgages and some lines of … [Read more...]
You’ve probably read about the new regulations regarding Canadian mortgages for buyers/ investors and home owners wanting to re-finance. In case you haven’t been following, here is the scoop. Three changes will come in effect on April 19: Qualification: All borrowers will need to meet standards for five-year fixed-rate mortgages regardless of whether they're seeking a loan with a lower … [Read more...]
Reckless speculators get a cold shower - The Globe and Mail Ottawa's decision to hike minimum down payment required to obtain insurance on investment homes likely to have immediate effect. Don't worry, home loan rules can still be bent - The Montreal Gazette The good news or bad news, depending on your perspective, is you can still buy a home in Canada with almost no money... Home buying … [Read more...]
Housing sales fall sharply in Canada: MLS [CBC News] "The number of homes sold through the Multiple Listing Service dropped to 27,743 units in November — the lowest level recorded since January 2001, the Canadian Real Estate Association said Monday." Fed Cuts to ~0% and Prints Money [Canadian Mortgage Trends] "Many think they're getting ready for another rate cut on January 20. If so, that … [Read more...]
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