Interesting Article in Mortgage Broker News, written by James Henry/ Oct 30, 2014.
Vancouver hit by dramatic drop in house values
Hundreds of Vancouver homes are worth hundreds of thousands of dollars less now than they were a few months ago.
If you require... [ more
As expected there was no change in the Bank of Canada rate. Bank Prime remains at 3%
The article below is an excellent overview of yesterday's announcement.
The next meeting is on... [ more
Bond rates have continued to rise. We have seen several rate hike warnings and a few lenders make small upward adjustments.
5 year fixed rates are still in the high 2 % range with variable rates in the 2.35-2.55% range.
If you have a variable rate of any more... [ more
The bond rate has continued to inch downwards the past several weeks. 5 year funds are in the high 2% range(2.89-3.04%) range.
Variable rate mortgages are in the 2.35-2.45% range.
If your mortgage is renewing in the next 6 months or you are thinking of... [ more
CMHC is Changing Its Mortgage Insurance Product Offerings Effective May 30, 2014
Discontinuation of CMHC Self-Employed Without Traditional Third Party Validation of Income Operational
Questions and Answers
1) Will self-employed borrowers still... [ more
CMHC is Changing its Mortgage Insurance Product Offerings: Effective May 30, 2014
Click to read the full article from CMHC
Discontinuation of CMHC Second Home Product
Questions and Answers
1) Does this mean that a borrower/co-borrower who... [ more
The bond market has softened slightly the past week. There have been no changes in fixed or variable rates.
5 year fixed rates remain in the 2.98%-3.19% range.
Variable rate mortgages are available in the 2.35-2.55% range.
The Bank of Canada will have their... [ more
The interest rate market was extremely steady the past week. We currently have 5 year money in the 2.99-3.49% range. Variable rates continue to be an attractive option with rates around 2.50-2.60%. With the Bank of Canada meeting in the next couple of... [ more
When did it all start?
There are various theories on the origin of Valentine's Day, but the most popular dates back to the time of the Roman Empire during the reign of Claudius II, 270 A.D. Claudius didn't want men to marry during wartime because he... [ more
The budget announcement quietly slipped in changes to government-backed mortgage insurance, including reductions to the amount of new guarantees CMHC will provide.
“The Government continues to adjust the housing finance framework to restrain the growth of... [ more
Bank of Canada maintains overnight rate target at 1 per cent
Bank of Canada, Jan 22, 2014
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the... [ more
Bank of Canada leaves door open to rate cut as concerns of weak inflation grow
Gordon Isfeld | January 22, 2014
Last Updated: Jan 23 12:24 PM ET
OTTAWA — Canada’s economy is expected to tag along with the stronger U.S. recovery as it picks up... [ more
As expected the Bank of Canada did not move their trend setting rate last week. Bank prime remains unchanged at 3%.The bond rate has continued to fall as of this morning, it is down 35 basis points from the 1st of January.
Several banks lowered their 5 year fixed... [ more
Bond rates have continued to inch downward the past week. If this continues, we will likely see some further softening of long term rates. Several lenders did lower their rates by 10 basis points. 5 year rates continue in the 3.49-3.89%. Variable rates are... [ more
There was no change in today's press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%.
This means no changes in variable rate mortgages or line of credit rates. Five year money ranging from 3.59-3.89% and 10... [ more
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