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Watch: What is mortgage affordability? + MORE Feb 27th
Not sure how you much can borrow to purchase a property? To find out, you’ll need to know about “mortgage affordability.” That’s how much money you are able to borrow to purchase a home. This video outlines the factors that can influence mortgage affordability and it shares everyth.... More »
Record Low Mortgage Rates to Resist Economic Uncertainty + MORE Jun 18th
RateSupermarket.ca’s expert panel says global bond fluctuations won’t impact lender discounts
Recent headlines may point to economic unease internationally and at home, but mortgage shoppers can count on ultra-low mortgage rate pricing to last throughout the summer. RateSupermarket.c.... More »
Can this couple make a savings plan for now, and down the road? + MORE Sep 26th
Laura and Liam want to take a vacation, buy a new car and pay down their mortgage, but don’t want to sacrifice retirement-spending goals
.... More »
Mortgage brokers: Are you asking the right questions when choosing a mortgage brokerage? + MORE Aug 7th
As a mortgage broker, you negotiate tirelessly to secure the best rates and terms for your clients. But have you applied the same diligence to selecting your brokerage?.... More »
Mortgage Debt: Is the Scale Starting to Tip? + MORE Dec 22nd
The “sustained low interest-rate environment” has caused a “significant minority” of Canadians to take on more mortgage debt than they can comfortably manage. That was the conclusion from a recent study by C.D. Howe. Out of all the study’s findings, the one garnering.... More »
A Surprise for Your Savings
– ratesupermarket.ca
What an eventful week! The Bank of Canada has changed the name of the economic game with an unanticipated rate cut – with implications for YOUR mortgage and YOUR savings! Meanwhile, mobile banking apps take centre stage with consumers – lenders who aren’t up to snuff are getting passed by for those who make banking on the go a breeze.
Get the full story below.
The Bank of Canada Cuts Interest Rate to 0.75%
Talk about a shakeup! The Bank of Canada surprised economists and markets this week by cutting their central interest rate for the first time since 2010. This means variable mortgage holders and savers alike will see a reduction in their interest rates. Read on to see how this will affect you, your mortgage, and the Canadian economy.
Read Penelope’s Blog | The Bank of Canada Cuts Interest Rate to 0.75%
Turning an RSP Into Income: My Mom’s Story
So you’ve been dutifully contributing to that RSP over the years – now it’s time to turn that nest egg into your day-to-day income…
Poles take to the streets to demand govt help after their Swiss-franc mortgage payments soar
– canadianbusiness.com
WARSAW, Poland – Poles who have taken out mortgages in Swiss francs are protesting in a number of cities, demanding government help after the franc soared in recent weeks, making their monthly payments significantly higher.
It’s a pressing issue in Poland, where there’s more than 500,000 outstanding Swiss-franc loans in this nation of 38 million people. It threatens to become a serious problem for the government ahead of parliamentary elections later this year.
About 200 people gathered in front of the presidential palace in Warsaw on Saturday, and similar protests were also held in Krakow, Lodz, Gdansk and Wroclaw.
Many Poles took out such loans several years ago, lured by Swiss interest rates that were much lower than those on Polish zloty loans. After the financial crisis, the Swiss-franc loans were virtually banned.
The post Poles take to the streets to demand govt help after their Swiss-franc mortgage payments soar appeared first on Canadian Business.
It’s a pressing issue in Poland, where there’s more than 500,000 outstanding Swiss-franc loans in this nation of 38 million people. It threatens to become a serious problem for the government ahead of parliamentary elections later this year.
About 200 people gathered in front of the presidential palace in Warsaw on Saturday, and similar protests were also held in Krakow, Lodz, Gdansk and Wroclaw.
Many Poles took out such loans several years ago, lured by Swiss interest rates that were much lower than those on Polish zloty loans. After the financial crisis, the Swiss-franc loans were virtually banned.
The post Poles take to the streets to demand govt help after their Swiss-franc mortgage payments soar appeared first on Canadian Business.
Ocwen Financial to pay $2.5 million, submit to audit to keep California mortgage license
– canadianbusiness.com
SACRAMENTO, Calif. – Ocwen Financial Corp. is paying a $2.5 million penalty and submitting to a review by an independent auditor to avoid losing its license to make and service mortgages in California.
The settlement announced late Friday by California’s Department of Business Oversight stems from Ocwen’s refusal to turn over records sought by state regulators as part of an examination of its lending practices.
The standoff prompted California to initiate proceedings to suspend Ocwen’s license, an action that now will be dropped as part of the agreement.
Ocwen won’t be able to take on any new customers in California until state regulators are satisfied the Atlanta company will promptly respond to future demands for business records.
Ocwen didn’t immediately respond to a Saturday request for comment about the settlement.
The post Ocwen Financial to pay $2.5 million, submit to audit to keep California mortgage license appeared first on Canadian Business.
The settlement announced late Friday by California’s Department of Business Oversight stems from Ocwen’s refusal to turn over records sought by state regulators as part of an examination of its lending practices.
The standoff prompted California to initiate proceedings to suspend Ocwen’s license, an action that now will be dropped as part of the agreement.
Ocwen won’t be able to take on any new customers in California until state regulators are satisfied the Atlanta company will promptly respond to future demands for business records.
Ocwen didn’t immediately respond to a Saturday request for comment about the settlement.
The post Ocwen Financial to pay $2.5 million, submit to audit to keep California mortgage license appeared first on Canadian Business.
