Lot’s of talk these days about the impending doom in the Toronto Condo Market. Here is an analysis of the situation provided by MCAP that puts it all in perspective…… MCAP Condo Market Analysis
Canada’s annual inflation rate dipped to 1.9% in March from 2.6% in February, largely due to slower year-over-year increases in prices for food and energy, Statistics Canada said on Friday. The Bank of Canada uses interest rates to reach its target inflation rate of 2%. With the current inflation rate coming in at below target, […]
The Bank of Canada yesterday maintained it’s key overnight lending rate at 1%, holding the Prime rate on which Variable rate mortgages are based at 3%. In their press release, they listed several factors being considered in the decision…. “Overall, economic momentum in Canada is slightly firmer than the Bank had expected in January.” “…The […]
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Read the full article in the Montreal Gazette Here “I find it a bit odd that some of the bank executives are taking the position that the minister of finance or the government somehow should tell them how to run their business,” Flaherty said in Stittsville, Ont., just west of Ottawa. “We have bank executives […]
Yesterday we mentioned some of the pitfalls associated with No Frill’s products. Here are are some real, and Full featured solutions for you to consider: 3 Years, 15/15 Pre-Payment Terms, 2.79% 4 Years, 15/15 Pre-Payment Terms, 2.99% 5 Years, 15/15 Pre-Payment Terms, 3.19% 10 Years, 20/20 Pre-Payment Terms, 3.89% Contact Us for details!
Today’s big news is that BMO’s has brought back (Until March 28th) their “Low Rate” mortgage, and as they say on their own commercials “Some Conditions Apply” – That’s for sure! The Terms are: – 5 year fixed @ 2.99% (Our rate – 3.19% full featured!) – 10 year fixed @ 3.99%.(Our rate is […]
It’s been two years since the Government Acknowledged that the rules around mortgage prepayment penalties need to be clarified. Finally, the Government announced several measure to protect consumers, central to which is a new Code of Conduct for Federally Regulated Financial Institutions which requires federally regulated lenders to provide significantly more information and tools to borrowers […]
As you have probably heard by now, BMO made a big splash in the news last week by offering a 5-year “Low-Rate” Mortgage at 2.99 per cent. While we applaud lower interest rates (something that should have happened months ago based on the traditional relationship between bond yields and fixed mortgage rates), we do urge […]
Not unexpectedly, the Bank of Canada kept its target for the overnight rate steady at 1.0 per cent on Tuesday, citing a worsening global economy for the need to maintain the current level of stimulus. Suprisingly however, the bank hinted it may have to keep its benchmark interest rate that low for an extended period, […]
