Archive for: July 2017

Geoff Lee explains the fundamental advantages of brokers

Filed under: Mortgage - 20 Jul 2017

THINK OUTSIDE THE BOX: For most Canadians, mortgage brokers continue to be crucial part of the home purchase process. In a recent analysis, mortgage professional Geoff Lee offered some justifications as to why this remains so.

Familiarity with other industry players

Mortgage …

Canadians managing mortgages despite soaring household debt load

Filed under: Mortgage - 19 Jul 2017

THINK OUTSIDE THE  BOX: Canadians may be shouldering near-record household debt but homeowners have been managing it better than those than don’t own property, according to the country’s housing agency.

Mortgage delinquency rates and credit scores improved in the fourth quarter …

Is Cochrane ground zero for future real estate strength in Alberta?

Filed under: Mortgage - 19 Jul 2017

THINK OUTSIDE THE BOX: Amid Alberta’s recent economic troubles—which have affected its real estate activity in turn—Cochrane has silently increased its population by nearly 50 per cent over the past 6 years, growing by 4.5 per cent in 2016 alone.

Officials stated …

Interest rates have finally increased: How that could affect your loans

Filed under: Mortgage - 13 Jul 2017

THINK OUTSIDE THE BOX: From mortgages to lines of credit, the rise in the ‘overnight rate’ will hit Canadian consumers

After seven years of leaving its key interest steady or cutting it to near-historic lows, the Bank of Canada has finally increased …

Three big banks raise prime lending rates following rate hike from Bank of Canada

Filed under: Mortgage - 12 Jul 2017

Three of Canada’s biggest banks are boosting their prime lending rates by 25 basis points, following an interest rate hike from the central bank.

Royal Bank of Canada (TSX:RY), the Bank of Montreal (TSX:BMO) and TD Bank (TSX:TD) all announced Wednesday …

BoC interest rate revealed

Filed under: Mortgage - 12 Jul 2017

THINK OUTSIDE THE BOX: The Central Bank raised its new target for the overnight rate to ¾% Wednesday, citing a confident financial outlook and above-potential growth.

This despite softened inflation, which the bank judges to be temporary.

“Governing Council judges that the …

Mortgages won’t be only problem for many Canadians as rates rise

Filed under: Mortgage - 10 Jul 2017

THINK OUTSIDE THE BOX: With the Bank of Canada set to raise lending rates, mortgage holders have been warned to expect more expensive debt than they’ve become used to. But other forms of debt are even more vulnerable to the …

What If Mortgage Rates Rise?

Filed under: Mortgage - 05 Jul 2017

THINK OUTSIDE THE BOX: Rumor has it mortgage rates could be going up. The Bank of Canada (BoC) has dropped some hints a hike to the overnight rate (the main policy interest rate in Canada) could be coming. The overnight rate …