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Bank of Canada rate cut increasingly likely amid coronavirus fears, economists say - Global News Mar 2nd
Bank of Canada rate cut increasingly likely amid coronavirus fears, economists say Global NewsCoronavirus rate cut could open Poloz's finale at Bank of Canada BNNBloomberg.caBoC Increasingly Likely to Deliver a Surprise Rate Cut This Week - Mortgage Rates & Mortgage Broker .... More »
Why Canadian investors should avoid MLPs Jan 20th
For better or worse, a sizable group of Canadian investors still screens prospective investments by dividend yield. When that search expands beyond Canadian stocks, it often leads into parts of the U.S. market that look attractive on the surface but are poorly understood.
Common examples include .... More »
Apartment sales driving Lower Mainland housing market - Chilliwack Progress + MORE Nov 3rd
Chilliwack ProgressApartment sales driving Lower Mainland housing marketChilliwack ProgressVancouver and the Fraser Valley both experienced above-average home sales last month, according to local real estate board figures, as buyers try to get ahead of the new mortgage requirements in January. Vanco.... More »
Not just new buyers: Mortgage stress test rules putting the squeeze on renewals, too + MORE May 15th
It's not just new homeowners who are feeling the impact of higher interest rates and tougher lending standards: even those who've already bought are feeling the heat..... More »
Can I afford to buy a second home? + MORE Sep 26th
There are plenty of reasons you may want to buy a second home. Maybe you’d like a second property for a family member to live in (e.g., your daughter while she attends university) or a condo to stay in during the week when you’re working downtown. But can you afford it?
“Before you buy.... More »
Average 30-year loan rate falls to 3.57 per cent, 3-year low
– canadianbusiness.com
WASHINGTON – Long-term U.S. mortgage rates fell this week for a third straight week, posting new lows for the year. The benchmark 30-year rate reached a three-year low.
The low rates come amid the spring home buying season, luring prospective purchasers.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.57 per cent from 3.61 per cent last week. It’s far below its level a year ago of 3.85 per cent.
The average rate on 15-year fixed-rate mortgages eased to 2.81 per cent from 2.86 per cent last week.
Prices of U.S. government bonds have been at high levels since the Federal Reserve’s recent decision not to increase the benchmark interest rate — which it had raised from record lows in December. Some economists believe the Fed may not raise rates again until the second half of the year.
That means low levels for the bonds’ yields, which move in the opposite direction from their prices and tend to influence mortgage rates.
The yield on the 10-year Treasury bond stood at 1…
The low rates come amid the spring home buying season, luring prospective purchasers.
Mortgage buyer Freddie Mac said Thursday the average 30-year fixed-rate mortgage dipped to 3.57 per cent from 3.61 per cent last week. It’s far below its level a year ago of 3.85 per cent.
The average rate on 15-year fixed-rate mortgages eased to 2.81 per cent from 2.86 per cent last week.
Prices of U.S. government bonds have been at high levels since the Federal Reserve’s recent decision not to increase the benchmark interest rate — which it had raised from record lows in December. Some economists believe the Fed may not raise rates again until the second half of the year.
That means low levels for the bonds’ yields, which move in the opposite direction from their prices and tend to influence mortgage rates.
The yield on the 10-year Treasury bond stood at 1…
Lifting Covered Bond Issuance Limits. It’s Time
– canadianmortgagetrends.com
As we like to say around here, it’s good to be a bank. Reason #188 (or whatever number we’re up to now) is covered bonds. Only seven lenders in Canada can issue covered bonds, and six of them are major banks. Who should care about covered bonds? Any mortgagor with at least 20% down who prefers a lower rate. Covered bonds (CBs) are a low-cost way to raise mortgage capital, which the lender (issuer) can then lend out to borrowers. Essentially, CBs are just packaged up pools of uninsured mortgages that mega-lenders sell off to investors. Investors like CBs because: the READ MORE
The new reason people hate banks
– moneysense.ca
An ongoing trend of the past two years shows that investment-related complaints are decreasing while banking-services gripes have surged, according to the Ombudsman for Banking Services and Investments. Eliminating the backlog of cases amassed after the financial crisis explains the drop in investment beefs. As for the increased sounding off about banking services complaints, mortgage grievances factor large—namely, prepayment penalties and cases where the bank refused portability. Always read your mortgage terms carefully.
Source: OBSI 2015 Annual Report
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