Learn more about Canadian mortgage rates, rules and the latest news – read on!
Latest News
Should You Believe Recession Rumours? + MORE Jul 13th
Finance headlines have been less than fabulous this week, as growing evidence of a Canadian recession throws the economy into flux. From local home buyers to global investors, all eyes are on the Bank of Canada’s next move. Will national interest rates be slashed for the second time this year? Co.... More »
B.C. Rules Create Challenges for Creditor Life Insurance Apr 27th
About a year and a half ago, FICOM made a subtle but impactful rule clarification in B.C. The regulator stated that lenders must “play an active and substantial role” in creditor life insurance in order for mortgage brokers to be able to sell it to B.C. consumers. Basically, this means that th.... More »
Inside RBC’s acquisition of mortgage fintech Pinch Financial Mar 13th
The Toronto fintech will gain access to RBC’s infrastructure and 17 million clients, but says its platform will remain open to non-RBC partners..... More »
The First Key to Financial Success: Becoming Financially Literate + MORE Jan 26th
A new year provides the perfect opportunity to mentally give yourself a clean slate and get a handle on your finances. Are you planning on saving more this year? Investing? Paying off debt? No matter your resolution, you first need to gain a clear understanding of where you stand financially.
And i.... More »
Next week's new mortgage rule won't cool down hot markets + MORE Feb 12th
Starting Monday, you'll need more cash to insure a mortgage on many homes in Canada. The new rule may be 'good politics,' but it won't do much to bring housing prices in overheated markets back down to Earth..... More »
Pending sales of US homes fell 1.1 per cent in June; pace remains slower than in 2013
– canadianbusiness.com
WASHINGTON – Fewer Americans signed contracts to buy homes in June, as the real estate market appears to have cooled off this summer.
The National Association of Realtors says its seasonally adjusted pending home sales index slipped 1.1 per cent to 102.7 last month. The index remains 7.3 per cent below its level a year ago.
Sales have been slowed by a mix of meagre wage growth, rising home prices, and mortgage rates that rose steadily through the end of last year.
Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale.
Signed contracts in June fell in the Northeast and South. They rose slightly in the Midwest and West. Pending sales in all four U.S. regions are below last year’s pace.
The post Pending sales of US homes fell 1.1 per cent in June; pace remains slower than in 2013 appeared first on Canadian Business.
The National Association of Realtors says its seasonally adjusted pending home sales index slipped 1.1 per cent to 102.7 last month. The index remains 7.3 per cent below its level a year ago.
Sales have been slowed by a mix of meagre wage growth, rising home prices, and mortgage rates that rose steadily through the end of last year.
Pending sales are a barometer of future purchases. A one- to two-month lag usually exists between a contract and a completed sale.
Signed contracts in June fell in the Northeast and South. They rose slightly in the Midwest and West. Pending sales in all four U.S. regions are below last year’s pace.
The post Pending sales of US homes fell 1.1 per cent in June; pace remains slower than in 2013 appeared first on Canadian Business.
A DIY Leveraged Investing Option
– canadianmortgagetrends.com
Almost three years after Fraser Smith passed on, the financial technique he popularized (the Smith Manoeuvre) is still actively used. One of the most common questions prospective Smith Manoeuvre users have is, “What is the best mortgage to do it with?” That answer hinges on where you trade, the mortgage rate and terms you receive, […]
Taking action to pay down your mortgage faster is one of those boilerplate suggestions that financial advisers love to make to their clients. So why isn’t everyone doing that?
