Community Lend doing well with P2P lending

Communitylend, the Canadian Peer-to-peer lending network is doing well with another strong growth month in September. Here are the key market statistics for their year to date to September 30th. Loan Demand at www.communitylend.com was up another $500,000 to over $4 Million. Loan Requests Accepted and available for investment exceeded $655,000. User Membership is now…


Is it good to combine mortgages, loans?

The ability to combine a mortgage and other loan contracts in a packaged deal became increasingly popular as interest rates fell and home prices rose. Loyal borrowers who qualified for ready access to credit appreciated the flexibility, and the potential for savings on the cost of setting up a new loan. But many borrowers may…


TD overhauls mortgage program as housing market slows

TD Bank is revamping its mortgage program, making it easier for homeowners to tap into their equity and harder for them to switch to another lender when their mortgages come up for renewal. At the heart of the overhaul is a switch to collateral-charge mortgages, which are similar to lines of credit. The bank is…


Banks lower residential mortgage rates

Bank of Montreal and TD Canada Trust both cut their benchmark mortgage rates by a tenth of a percentage point Tuesday. The 5-year fixed rate at both banks now stands at 5.29% and as low as 3.49% and 3.89% using various promotional offers. Banks typically fund their fixed-rate mortgage lending from instruments tied to bond…