“With the Fed easing so aggressively, the Bank of Canada will have little choice but to join the party. Look for the Bank to cut by 50 basis points in its next rate announcement.” — CIBC’s Benjamin Tal
CMHC expects Saskatchewan home prices to jump another 28% in 2008.
MortgageBrokers.com’s CEO says “current rates, available mortgage products and projected rate cuts” will make Canada’s mortgage market “more active” in 2008.
Canadian Tire says it “accumulated” $35 million in “high-quality” mortgages in 2007. Their mortgage pilot will continue “throughout 2008.”
Angus Reid says 44% of people don’t know how much to budget for housing costs.
Should you pay down your mortgage or invest in your RRSP? Gordon Powers says it depends on your mortgage and tax bracket. Here’s a similar take from Morningstar.
Is Canada an energy and metals superpower? You would think…but mining, oil, and gas are only 4.58% of our economic output. By comparison, financial services and real estate account for 20%.
Islamic financier, UM Financial, wants CMHC to continue it’s Muslim mortgage study, despite recent criticism.
London, ON is giving away free down payments to 116 low-income families, but only 25 have bothered to apply! Who needs free money anyhow?
Investors Groups says 1 in 5 homeowners plan to use their home’s equity to supplement their retirement.
Here’s what $1 million buys you in Calgary these days: Link
If you get mortgage life insurance and die, prepare for an investigation. It’s called “post claim underwriting” and CBC’s marketplace has blown the cover off it. Some are incensed to know that paying the premiums doesn’t necessarily mean you qualify for the insurance. Video
Canadian Capitalists says high interest rates are the main Achilles heel of the Manulife One and Canadian Tire One-and-only mortgages.
Xceed has found a buyer for $98 million of its mortgages. The alternative lender has also worked out a deal with an unnamed insurer to retroactively insure some of Xceeds previously funded mortgages. CEO Ivan Wahl says “Xceed expects to be able to originate up to $250 million per quarter of residential mortgages that are insured by CMHC, Genworth or PMI Canada.” Those insurer agreements “are providing Xceed with the ability to insure newly originated mortgages that can eventually be sold to the Canada Mortgage Bond Program.”
Like news like this?
Join our CMT Updates list and get the latest news as it happens. Unsubscribe anytime.
Thank you for subscribing. One more step: Please confirm your subscription via the email sent to you.
(3).png)
.gif)
“With the Fed easing so aggressively, the Bank of Canada will have little choice but to join the party. Look for the Bank to cut by 50 basis points in its next rate announcement.” — CIBC’s Benjamin Tal
