Bank of Canada: more investors, less government for mortgage business + MORE Nov 5th

(Getty Images/Arda Guldogan)
If you’re interested in making money off of other people’s debt you may have an increased opportunity, at least if the Bank of Canada gets its way.
A recent article, written by Bank of Canada deputy governor Lawrence Schembri, pressed for risk exposure changes in Canada’s mortgage market. In particular, Schembri suggested that the creation of a private-label mortgage securitization market in Canada.
Private-label mortgage securities includes any mortgage product that does not conform to criteria set by A-list banks and the CMHC. As a result, these private-label mortgages carry a significantly greater risk. Examples of these mortgages include: low-doc (aka: Liar loans), 40-year mortgages, large loans (over $415,000 in the US, over $1-million in Canada), B-lender loans. Of course, these types of loans may already seem familiar given that they, along with other private-label mortgage securities, played an integral role in the 2009 credit crisis…

One of the last major hotel chains to come out with a fourth quarter/late fall/early winter promotion is Carlson Rezidor Hotels. Today they launched their systemwide offering and you get to make a choice: either Double Points or Double Elite Qualifying Nights. Club Carlson Elite status takes quite a few nights to reach so it may only make sense to choose that option if you are nearing an elite level and can get there with a few stays that offer this bonus. Since Club Carlson Elite Status is relatively easy to come by (status matching or free with The Platinum Card from American Express) it will probably make sense for more people to opt for double points. This means you will earn 40 points per dollar spent not including any elite status bonuses. Offer DetailsEarn Double Gold Points or Double Elite Qualifying Nights for stays at participating Quorvus CollectionSM, Radisson Blu®, Radisson®, Park Plaza®, Park Inn® by Radisson and Country Inns & Suites By CarlsonSM hotels worldwide…

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OTTAWA – The federal government has announced a voluntary agreement by Visa and Mastercard to reduce merchant credit card fees to an average effective rate of 1.5 per cent for the next five years.
Finance Minister Joe Oliver says the reduction amounts to a 10 per cent rate cut, and that it should result in lower prices for consumers.
Some critics, however, have questioned that prediction.
Compliance with the agreements, which are expected to take effect by next April, is to be verified by an independent third party.
American Express did not submit a proposal to reduce rates as it uses a different business model than Visa and Mastercard.
The Canadian Federation of Independent Business says while the cuts are not massive, small merchants will be happy that they will see a reduction after years of spiking credit card swipe fees.
Visa and Mastercard have committed to cutting what are known as interchange fees, which are charged to merchants when a customer uses a credit card to make a purchase…

Visa Inc and Mastercard Inc have voluntarily agreed to cut the fees they charge to retailers for credit transactions, the federal government said on Tuesday, adding it now sees no need to regulate fees set by credit card networks.

With the stage set for a federal election in 2015, the Conservative government is doling out a few early election goodies. Income splitting was a platform promise made during the 2011 election once the federal books were balanced. With the federal deficit expected to be eliminated in 2015, the Tories are delivering on income splitting, albeit a watered down version.
How Does Income Splitting Work?
The aptly-named “Family Tax Cut”  allows couples with children under 18 to transfer up to $50,000 from one spouse to the other to lower their tax bracket. The Tories have made a few slight tweaks since initially coming under fire with the first proposed iteration, which was criticized for benefiting middle to upper-class families, leaving those who need it most out in the cold. To address this, the non-refundable tax credit is being capped at $2,000 per year.
That’s not the only new development for families with kids. Starting in 2015, the Tories are boosting the universal child care benefit from $100 to $160 per month for children under six, and  are introducing a new monthly benefit of $60 for kids ages  6 to 17…