Gains in Canadian home prices have now surpassed those of the U.S. over the last 10 years. Is it indication of further momentum, or a warning sign? (Gazette story)
60% of Canadians own their homes, compared to 70% in the U.S. (Globe & Mail)
The Bank of Canada is getting a new boss on February 1, 2008 when David Dodge retires. His name is Mark Carney, a former-Goldman Sachs investment banker. Carney is Harvard and Oxford educated and was born in Fort Smith, Northwest Territories, a town of 2600.
Many people don’t know that reverse mortgages involve setup fees. According to the Globe & Mail, CHIP fees, for example, entail appraisal costs of $175-$400 and legal/closing expenses of $1585-$1885.
Equifax now allows mortgage planners to initiate investigations on credit file items on their client’s behalf. It costs $14 per inquiry. If you’re a mortgage planner, contact your Equifax rep. for details.
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