Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
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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 »
Average cost to rent condo in GTA hits $2,206, up by $214 in past year + MORE Apr 12th
The average cost to rent a condominium in the Greater Toronto Area has risen by almost 11 per cent in the past year, partly because tougher mortgage rules have shut out new buyers and flooded the market with renters, a new report by research firm Urbanation says..... More »
Being hooked on debt has long-term consequences + MORE May 24th
Hooked on debt. It’s an apt description for the rising debt-to-income levels currently seen in Canada and a new survey by Manulife Bank highlights there’s a high price to our debt dependency—a cost that goes far beyond the low interest rates you see posted online.
Impact on those approach.... More »
BMO reinstates OSFI’s stress test for uninsured mortgage switches + MORE Dec 21st
The excitement over last month’s removal of the stress test for uninsured mortgage switches may have been short-lived—at least for some bank customers..... More »
Lessons From the 2018 Digital Mortgage Conference – Part I + MORE Sep 21st
“If you don’t view yourself as a technology company that does mortgages, you’re missing it.”—Bill Emerson, Vice Chairman, Quicken Loans That quote encapsulated this week’s third annual Digital Mortgage Conference in Las Vegas. To compete in the next decade, brokers and lenders wil.... More »
Rates fall at weekly US Treasury bill auction to lowest levels since September
– canadianbusiness.com
WASHINGTON – Interest rates on short-term Treasury bills fell in Monday’s auction to the lowest levels since last September.
The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.030 per cent, down from 0.045 per cent last week. Another $23 billion in six-month bills was auctioned at a discount rate of 0.050 per cent, down from 0.065 per cent last week.
The three-month rate was the lowest since three-month bills averaged 0.010 per cent on Sept. 30. The six-month rate was the lowest since those bills averaged 0.040 per cent, also on Sept. 30.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.24 while a six-month bill sold for $9,997.47. That would equal an annualized rate of 0.030 per cent for the three-month bills and 0.051 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
The Treasury Department auctioned $25 billion in three-month bills at a discount rate of 0.030 per cent, down from 0.045 per cent last week. Another $23 billion in six-month bills was auctioned at a discount rate of 0.050 per cent, down from 0.065 per cent last week.
The three-month rate was the lowest since three-month bills averaged 0.010 per cent on Sept. 30. The six-month rate was the lowest since those bills averaged 0.040 per cent, also on Sept. 30.
The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,999.24 while a six-month bill sold for $9,997.47. That would equal an annualized rate of 0.030 per cent for the three-month bills and 0.051 per cent for the six-month bills.
Separately, the Federal Reserve said Monday that the average yield for one-year Treasury bills, a popular index for making changes in adjustable rate mortgages, edged down to 0…
The strange case of the $748 hydro bill: Mayers
– thestar.com
When an Ottawa mortgage broker’s electricity bill went through the roof, she learned how tough it can be to take on your local utility.Citigroup to pay $1.13 billion to settle investor claims over mortgage-backed securities
– canadianbusiness.com
NEW YORK, N.Y. – Citigroup has agreed to pay $1.13 billion to settle claims by investors seeking that the lender buy back billions in residential mortgage-backed securities.
The New York-based investment bank said Monday that the pact it reached with 18 institutional investors calls for Citigroup to make a binding offer to the trustees of 68 Citi-sponsored trusts that bundled some $59.4 billion in home loans into securities from 2005 to 2008.
The settlement offer, which must be approved by the trustees and the court, would release Citi from having to buy back mortgages sold to the trusts.
But the lender would remain vulnerable to other types of investor claims, including misrepresentations in the offering documents associated with the securities. It could also face potential actions by regulators.
The agreement also doesn’t cover home loans sold through private-label securitization trusts via Citi’s consumer mortgage business.
As part of the settlement, Citigroup said it has taken a charge of about $100 million for the first quarter…
The New York-based investment bank said Monday that the pact it reached with 18 institutional investors calls for Citigroup to make a binding offer to the trustees of 68 Citi-sponsored trusts that bundled some $59.4 billion in home loans into securities from 2005 to 2008.
The settlement offer, which must be approved by the trustees and the court, would release Citi from having to buy back mortgages sold to the trusts.
But the lender would remain vulnerable to other types of investor claims, including misrepresentations in the offering documents associated with the securities. It could also face potential actions by regulators.
The agreement also doesn’t cover home loans sold through private-label securitization trusts via Citi’s consumer mortgage business.
As part of the settlement, Citigroup said it has taken a charge of about $100 million for the first quarter…
