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Posted by: Aneta Zimnicki
Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Bleak outlook. “The Bank continues to monitor the evolution of financial vulnerabilities in light of lower mortgage rates and past changes to housing market policies. Governing Council is mindful that the resilience of Canada’s economy will be increasingly tested as trade conflicts […]
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The election is over. What does this mean for mortgages? Some good insights (summarized from source Mortgage Professional Canada): Mortgage rules and related policy will not be a top priority for Trudeau government. Most likely Liberals will implement their national tax on vacant residential properties owned by non-Canadians who don’t live in Canada, likely in […]
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The government finally released more details on the first-time home buyer incentive program (FTHBI). To get a good overview of the program, you can check out the consumer website https://www.placetocallhome.ca/fthbi/first-time-homebuyer-incentive Here are some of my remarks after perusing the information and manuals. There are some details which may catch consumers off guard. And as often […]
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Staying put before the election. Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Economic outlook is weak. Comment made about justifying current mortgage rules. Next announcement is Oct 30, days after the federal election. “Given this composition of growth, the Bank expects economic activity to slow in the second half […]
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These are interesting times. Our economy may not be doing so well. In general, fixed mortgage rates move in tandem with the bond market while variable rates move with the lender’s prime rate, which is based on the Bank of Canada’s overnight rate, as per announcement noted above. The bond yields have been falling since […]
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Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. Sombre language used. The general speculation is that there is possibility of rate dropping. We will have to see if the boat will be rocked before the federal election. Next announcement September 4.
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Summary of mortgage related items in the budget: The federal budget announced a new first-time home buyer incentive. It is essentially a ‘shared mortgage’ or interest-free loan to be repaid when the property is sold. Loan of 5% (existing home) or 10% (new build) of purchase price on insured purchases with minimum 5% and maximum […]
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A while back, mortgage rates were simpler. They could be summarized in one simple table. Then regulations changed. And they changed again, and again….Now you need to be a detective to figure out what applies to your specific situation. That is why advertised rates are baloney. Because they don’t tell you the whole story. The […]
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The Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged. The mood of the announcement now paints a different picture than the last year’s hinting of increase. Now it says ‘CPI inflation to be slightly below the 2% target through most of 2019’, (typically above 2% mean they raise rate) and […]
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Here is a great overview of what’s in store for 2019 from Dominion Lending Centres’ Chief Economist Dr. Sherry Cooper. She breaks it down for us so it is easier to understand. Important read as we enter a new year, it may help you with your financing and real estate investing decisions. Check out point […]
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