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BMO’s No-Frills 2.99% mortgage offer is not ground breaking…just another trap by the Big Banks by Jeff Trounsell Centum Pacific Mortgages
BMO’s No-Frills 2.99% mortgage offer is not ground breaking…just another trap by the Big Banks.
Posted by Jeff Trounsell (jefftrounsell) on Jan 18 2012
Blog >> January 2012
Source: www.canadamortgagenews.ca
EXTRA, EXTRA, READ ALL ABOUT IT…. 5 years fixed No-Frills mortgage for 2.99% by BMO….wow, can you believe it? ...
Posted by Michael LaPrairie
on January 28, 2012
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Merits of refinancing to save thousands ...Blog by Jeff Trounsell Centum Pacific Mortgages
It's now January 2012, high canadian consumer debt load is in all the news media, your New Years resolution might have been to work on reducing your debt, so here's a great way of looking at it. Fixed mortgage rates are at historical lows…a 5 year fixed rate can be had for 3.39% and in some cases, even 3.29%. Does it make sense to refinance your mortgage and consolidate ...
Posted by Michael LaPrairie
on January 5, 2012
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Changes to the Bank Of Canada's Qualifying RateQualifying Rate
Mortgages with variable rates or fixed terms under five years typically require that you qualify at a higher rate (called the “qualifying rate.”).
For example, if you apply for a 2.25%, 5-year variable mortgage, the lender might make you qualify at their posted 5-year rate (5.54% for example).
Qualifying rates are used to ensure borrowers can handle their payments ...
Posted by Adam Knight
on July 11, 2011
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New Mortgage rulesMany mortgage industry professionals feel the government's new tougher mortgage rules are weak attempts in dealing with consumer debt.
With the average canadian debt to income ratio at 148.1%, many feel that more agressive efforts should target personal debt accrued by high interest credit cards, personal loans and lines of credit.
Many feel the tougher mortgage rules will have little impact on ...
Posted by Sylvie Lalumiere
on March 18, 2011
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BMO Canadain Housing Outlook 2011BMO Canadain Housing Outlook 2011
BMO's conclusion is that the broad Canadian market is moderately overvalued. They argue that as incomes rise and prices stabilize, this overvaluation will subside to a reasonable level without any correction in home prices.
Unfortunately, they see the Vancouver market as much more overvalued, with a 20% year-over-year increase to January 31st having ...
Posted by Chantal Vignola
on March 5, 2011
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Mortgage update from Jacqueline Baker from Dominion Lending CentresToday the Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent.
The global economic recovery is proceeding broadly in line with the Bank’s expectation, although risks remain elevated. U.S. activity is solidifying and remains supported by stimulative fiscal and monetary policies. The pace of the European economic recovery is buoyed down by the ...
Posted by Adam Knight
on March 1, 2011
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The Canadian Federal government tightens mortgage rules againFinance Minister Jim Flaherty is cracking down on Canadians' ability to qualify for a mortgage, in the government's latest attempt to rein in consumer debt.
As reported earlier today the Canadian Federal Government has imposed new mortgage regulations for borrowers.
What I believe the federal government is trying to achieve by imposing these new regulations is to shelter the Canadian housing market ...
Posted by Morgan DuVernet
on January 17, 2011
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Changes to mortgage rules - effective March 18, 2011Canada's regulations in the housing sector have saved us from the mistakes of other countries and helped us thru the recession; to build on that strenght, new measures are taking effect March 18, 2011:
1) Maximum amortization on new government-backed insured mortgages reduces from 35 to 30 years.
2) Maximum amount to borrow when refinancing mortgages reduces from 90 to 85% of the value of home. ...
Posted by Sylvie Lalumiere
on January 17, 2011
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Tips to reduce your mortgage costsAnna Labadze Vancouver Realtor 604.782.3552
Tips to reduce your mortgage costs Buying a home is the biggest investment most people make. Whether you're a first-time buyer or you're refinancing your home, saving money on mortgage payments means you'll be financially ahead. Here are seven tips to cut your mortgage costs:
1. Get a competitive rate. To get the best rate, you have to ...
Posted by Anna Labadze
on November 1, 2010
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Mortgage Rates at Historic LowYes, this is how LOW Mortgage Rates are TODAY!
If you have been waiting on the sidelines for the right time, this is it! You probably have missed the boat in the over 7 years ago and missed it again in 2008, this could be as good as it gets. Opportunities never wait for the indecisive. Pick up your phone and get a rate hold. And let's start shoping for your new home ...
Posted by Oliver Po
on October 21, 2010
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BMO announces 0.1 percentage point drop in residential mortgage ratesBy The Canadian Press
TORONTO - The Bank of Montreal (TSX: BMO.TO) has announced a small decrease in most of its residential mortgage rates.
In a statement Tuesday, BMO said it was reducing residential mortgage rates by 0.1 percentage point, including the rate on its posted, five-year fixed closed rate, which falls to 5.29 per cent
Posted by Mike Walton
on October 12, 2010
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The Bank of Canada Raise its Benchmark Lending RatePaul Vieira, Financial Post · Wednesday, Sept. 8, 2010
OTTAWA The Bank of Canada raised its benchmark interest rate Wednesday by 25 basis points to 1%, arguing financial conditions remain “exceptionally stimulative” even in the face of a slowing -- but still growing -- economy.
In its accompanying statement, the central bank acknowledged the economic recovery in Canada ...
Posted by Morgan DuVernet
on September 10, 2010
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Market Food for Thought:Hello there, Marvin Gardens here with a little market "food for thought".
The interest rates are increasing and projected to continue too do so. Right now the Bank Prime is set at 2.75%. Although it is true that as rates go up, prices may come down a bit. The only question is, will the price reduction cover the extra expense from the higher rate? Only time can tell, but if your looking to keep ...
Posted by Marvin Barclay
on August 5, 2010
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Lower Mainland sales plummet, buyers, sellers reach standoffWorries about the economy, mortgage rates leave potential owners 'sitting on the fence'
Have a look at this latest article from the Vancouver Sun I can attest to the fact that vsales have slowed in a profound way in Coal Harbour at the luxury condo end of the market. If you have any questions or comments about the downtown and Coal Harbour condo markets please contact Shaun
Posted by Shaun Kimmins
on August 5, 2010
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Rates on the Rise - Bank of Canada continues Interest Rate HikesBank of Canada President, Mark Carney pulled the trigger and raised rates by .25% today See the whole Globe and Mail article here: http://bit.ly/aRAOPP Contact Shaun for more information on Vancouver's condo market.
Posted by Shaun Kimmins
on July 20, 2010
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Market Update - Interest Rates June 30/2010Market update brought to you by Anna Labadze 604.782.3552 www.dreamrealestate.ca
Market Update
It is hard to believe but we are now half way through 2010. June saw the Bank of Canada increase their over night interest rates by 1/4% which resulted in the lenders increasing their prime lending rates by the same amount. Prime is now at 2.5%.
For those with variable ...
Posted by Anna Labadze
on June 30, 2010
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Bank of Canada first in G7 to hike rateOTTAWA -- For the first time in nearly three years, the Bank of Canada on Tuesday hiked its key interest rate by 25 basis points to 0.50%, as the domestic economy rebounds strongly against the backdrop of an "uneven" global recovery.
For the first time in nearly three years, the Bank of Canada, led by Governor Mark Carney, hiked its key interest rate.
However, it signalled in its accompanying ...
Posted by Shaun Kimmins
on June 1, 2010
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Canada's big banks hike prime lending rates
Both RBC Royal Bank and TD Bank Financial group bumped up their prime lending rates by 25 basis points to 2.50%, the same amount the Bank of Canada did Tuesday morning.
Canada's major banks raised their prime lending rates 25 basis points Tuesday in the wake of the Bank of Canada's decision to hike its benchmark interest rate to 0.5%.
RBC Royal Bank and TD Bank Financial group were first ...
Posted by Shaun Kimmins
on June 1, 2010
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Analyst reaction to BoC rate hike
Mark Chandler, RBC Capital Markets
“It was hard to characterize today’s statement as overtly dovish, but it did seem to lay out a very ‘cautious’ plan to continue raising rates. Not surprisingly, the central bank continued to make additional rate decisions ‘data dependent’ or – more accurately – ‘forecast dependent’. Specifically, ...
Posted by Shaun Kimmins
on June 1, 2010
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--- Mortgage Changes Effective April 19th ---
www.dreamrealestate.ca Anna Labadze Vancouver West Realtor 604.782.3552
As you are aware, the Minister of Finance recently announced changes to high-ratio government guaranteed mortgages. Below is a brief overview of the changes that will be taking place.
- Refinances: Maximum loan to value (LTV) is reduced from 95% to 90%. - ...
Posted by Anna Labadze
on April 15, 2010
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Minister of Finance recently announced changes to high-ratio government guaranteed mortgages. Valerie Buono, Centum Pacific MortgagesHi, As you are aware, the Minister of Finance recently announced changes to high-ratio government guaranteed mortgages. Below is a brief overview of the changes that will be taking place. - Refinances: Maximum loan to value (LTV) is reduced from 95% to 90%. - Non-owner occupied Rentals: Max LTV is reduced from 90% to 80% (essentially ...
Posted by Michael LaPrairie
on April 14, 2010
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Big banks raise mortgage rates in sign era of historically low rates endingTORONTO - Rising mortgage rates announced Monday signal the end of historically low home borrowing costs and present Canadian consumers with a dilemma: either stay flexible, hope for the best and ride out the next several months or lock in to long-term loans.
Three big banks raised their mortgage rates by more than half a point, effective Tuesday, and most industry watchers expect that's just ...
Posted by Shaun Kimmins
on April 10, 2010
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Banks boost mortgage ratesSome banks have raised their benchmark 5 year rate to 5.85% up 60 basis point. 4 year rates are averaging 5.34% up 40 basis points. What does this all mean if you have a mortgage and you face higher rates in the near future. Here is a good article in Globe and Mail that may help. For more Vancouver condo or real estate info contact Kerry Stimpson CENTURY 21 In Town Realty
Posted by Kerry Stimpson
on March 30, 2010
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Big banks raise mortgage rates in sign era of historically low rates endingTORONTO - Rising mortgage rates announced Monday signal the end of historically low home borrowing costs and present Canadian consumers with a dilemma: either stay flexible, hope for the best and ride out the next several months or lock in to long-term loans.
Three big banks raised their mortgage rates by more than half a point, effective Tuesday, and most industry watchers expect that's just ...
Posted by Shaun Kimmins
on March 29, 2010
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Higher interest rates could be coming sooner, says Bank of Canada governorBy THE CANADIAN PRESS, cp.org, Updated: March 24, 2010 1:38 PM
OTTAWA - Bank of Canada governor Mark Carney gave his most explicit warning to date that higher interest rates are coming, and perhaps sooner and higher than previously thought. The bank governor has always maintained that his promise to keep interest rates at historic lows was contingent on inflation remaining tame, but Wednesday ...
Posted by Shaun Kimmins
on March 24, 2010
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