BoC signals that rates will rise gradually

The recent jump in Canada’s inflation rate should be temporary and price levels will remain subdued even with a gradual reduction in monetary stimulus, the Bank of Canada said on Wednesday. Despite putting an interest rate hike firmly back on the table for the second half of the year on Tuesday, the bank suggested in…


Banks hike mortgages by up to 25 basis points

TD Canada Trust and RBC are raising some of their fixed-term mortgage rates by as much as one-quarter of a percentage point, beginning Wednesday. Both bank’s five-year mortgages, one of the most commonly chosen by homeowners in Canada, will rise 0.25 of a percentage point to 5.44%. “Mortgage rates typically go up when bond yields…


Consumers get less choice now that the fix is in

The fix is in, when it comes to the Canadian mortgage market. New government rules, which kicked in this week, have taken away choice from many Canadians and will force them to lock into a longterm mortgage. Read more: http://www.financialpost.com/personal-finance/your-money/story.html?id=2931790#ixzz0mE3lEEHV


Mortgage loophole helps first-timers

There is a small loophole in the new federal mortgage rules that could make it easier for the banks to lend money to first-time buyers. The federal government announced last month new requirements for anyone borrowing money for a house and needing mortgage insurance. If you have less than a 20% down payment and are…


How much home can you afford?

Want to know how much home you can afford to buy? First off, it depends on a number of factors. The most important factors are your gross income, your down payment and the mortgage interest rate. Your assets and liabilities are also factors in how much home you can afford. Use our Mortgage Affordability Calculator…


Bad Credit Home Refinancing Loan – How To Approach One Easily And Effectively

By: Julian Lim People who require a bad credit home refinancing loan has been rising recently these days. The main reason could be because of the impact of current bad international financial crisis. Such poor credit loans are fast becoming popular among consumers who have difficult times in meeting their financial needs. For people who…


Home Loans For poor credit – Smart Tips For working with Online Mortgage Corporations

By: Hollis Roy Home loan for bad credit are for people who find it tough to get loan facilities due to poor credit ratings. However, people with bad credit may have to deal with several difficulties at times and they also pay slightly higher rates rates for the loans. One of the finest techniques to…