Record Low Mortgage Rates to Resist Economic Uncertainty + MORE Jun 18th

Bank of Canada Stephen Poloz (Getty Images/Andrew Francis Wallace)
 
 
 
This article was originally published on Canadian Business.
Stephen Poloz said something last week that deserves more attention.
The Bank of Canada governor expressed confidence that regulatory changes were limiting home loans to those best able to finance them. It was the clearest statement yet that the central bank’s controversial decision to keep interest rates ultra-low won’t be altered over worries about a housing bubble or rising household debt levels.
Unlike their elected representatives in Ottawa—who continue to fetishize the economic virtue of balanced budgets—individual Canadians know what to do when presented with a once-in-a-lifetime opportunity to borrow money for virtually nothing. Household debt as a percentage of disposable income was was 163.3% in the first quarter, Statistics Canada reported last week—only marginally lower than the record 163.9% ratio the agency calculated for the fourth quarter…

(Getty Images / Tom Merton)
You’ve talked about old girlfriends and boyfriends. You’ve talked about whether you want children. You’ve talked about your mothers.
Now financial advisers say a discussion about money should be high on your to-do list before tying the knot this summer.
Sophie Salcito, an investment adviser with Vancity in North Vancouver, B.C., says couples should make a full disclosure to one another about what they own and what they owe in order to avoid any unpleasant surprises after the big day.
“Sometimes people don’t feel comfortable talking about that, but I think it makes for a better start to the relationship going forward if each picture is clearly laid out,” she said.
A failure to disclose all of your debts could make for an awkward discussion when it reaches credit check time for a mortgage and one person’s score threatens to derail the loan.
If you’re already living with your spouse-to-be, you may have already tackled such thorny financial issues…

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.ca’s Mortgage Rate Outlook Panel points to a persistently low-yield Canadian bond market to support fixed-rate discounts, while a move by the Bank of Canada on variable-rate pricing is unexpected in the short term.

Fixed Mortgage Rates: Unchanged
Despite current geopolitical conflicts, Canadian bond yields have weathered the volatile global bond market, and yields have remained relatively stable, dipping back to sub-1 per cent pricing in recent weeks. Combined with a continuously competitive summer borrowing season, lenders are unlikely to switch gears on their discounting tactics.

Variable Mortgage Rates: Unchanged
While the Canadian economy is still absorbing the impact of lower oil prices, our central bank has stated household debt levels and real estate prices pose the greatest threat to economic stability…

Company: Mountainview Mortgage – The Mortgage Centre Position: Mortgage Agent Assistant / Underwriter Location: Georgetown, ON Mortgage Agent Assistant / Underwriter Experience required: 1-5 years  preferred Licences/registrations required: Mortgage Agent Licence preferred Interested candidates may contact: carolyn@calleroteam.com Establish and maintain positive relationships with customers to build loyalty to the broker Submit completed applications and supporting documentation to lenders Write ads for the approval of the broker and place approved advertising (promotional information, newspaper ads) with the media Prepare flyers and promotional information for approval by the broker Schedule appointments & set up files Deliver brochures or flyers Make cold calls READ MORE

Is it really tougher to buy a home in today’s market? Any new homeowner will likely say so, as a house with a yard – considered the norm in yesteryear – is now reserved for the millionaire set in our nation’s steepest markets. However, it can be argued that borrowers have it better than ever: ultra-low mortgage rates have lasted for years, and are a far cry from the high teens and 20s seen in the 1980′s.
So, what was it really like to buy a home decades ago? MoneyWise connected with veteran buyers to share their experiences in our new Mortgage Throwback series.
Also read: Stuck in the Starter Home>
The Buyer: Dan Kennedy
Age: 61
First Home: Bought in 1973 for $17,000
What was your own parents’ real estate experience like?
My grandfather lost everything in the Great Depression and migrated to Canada from the Carolinas. The local bank manager lent him $50 to make the journey with his family. They found a farmer in the Straffordville, Ontario-area who let them share-grow tobacco…