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Mortgage Bytes

  • Many banks now expect rates to rise from 1/4% to 1% by late 2007 to mid 2008.  This is a marked change from January when only a handful of economists predicted rate hikes.  Article: Toronto Star
  • 1 in 7 Canadians own a vacation property. 1 in 4 want to buy one.  (The real question is, how many can afford one.)  New vacation property mortgages–like those from MyNext and Scotia–are making it easier, however. (Source of stats:  GMAC Study)
  • After a string of recent press releases’s stock price has taken a wild ride lately–going from 0.75 to 2.35 and back down to 0.38 last Thursday.  The releases keep coming though.  MB’s latest news is a partnership with Wells Fargo.