Report: Canadians Doing Well at Managing Mortgage Debt
Posted on Nov 08, 2010
A report by the Canadian Association of Accredited Mortgage Professionals (CAAMP) shows Canadian mortgage holders acting responsibly and even paying down their debts ahead of schedule.
Less Than Half of Baby Boomers Have Paid Off Their Mortgages
Posted on Nov 03, 2010
The influential baby boomer generation is set to retire 'en masse' over the next decade. A recent TD Waterhouse survey shows that while three quarters of them think paying off their mortgage before they retire is important, less than half have done so.
Ottawa May Further Tighten Mortgage Lending Rules
Posted on Oct 04, 2010
Concerns about an overheating housing market have prompted Finance Minister Jim Flaherty to consider further tightening mortgage lending rules. In the meantime, his department will keep a close eye on market activity. Rising household debt is the culprit.
RBC Lowers Mortgage Rates – Inventory Rises in B.C. and Ontario
Posted on Aug 16, 2010
Today, Royal Bank of Canada announced that it will lower fixed, multi-year closed mortgage rates by ten basis points, effective August 17. The move is likely to trigger similar announcements by other major banks. As well, news reveals dramatic drops in recent home sales activity in B.C. and Ontario.
Bank of Canada Raises Overnight Lending Rate
Posted on Jul 20, 2010
Canada’s central bank raised its key interest rate by 25 basis points to .75 percent today, in response to signs of a strengthening economy in this country. However, the bank stated that continued instability in world markets could preclude another rate hike in September...
Mortgage Rates Drop Again - More Inventory for Home Buyers
Posted on Jul 07, 2010
Today, benchmark five-year mortgage rates declined to 5.79 percent at the Canadian Imperial Bank of Commerce, Bank of Nova Scotia, Laurentian Bank and Desjardins Group. They rival recent rate reductions by the Bank of Montreal, Toronto Dominion Bank and Royal Bank of Canada.
TD, BMO and RBC Lower Posted Mortgage Rates
Posted on Jun 25, 2010
Three of Canada's major banks announced that they will lower their posted fixed mortgage rates by a tenth of a percent effective Friday, June 25. The change affects mortgage terms ranging from six months to ten years, as well as convertible mortgage rates.
Home Sales Down, Mortgage Rates Up in the Air
Posted on Jun 17, 2010
A new report from the Canadian Real Estate Association (CREA) shows a decline in home sales activity in May – historically one of the busiest months for real estate sales in Canada. Several factors spurred home buying activity in previous months to near record levels...
U.S. Gives Kudos to Canada’s Mortgage Market
Posted on Jun 14, 2010
Canada’s mortgage market was a highlight of a recent industry meeting sponsored by the U.S. Federal Reserve Bank of Cleveland. Virginie Traclet from the Bank of Canada was there to present rules governing our mortgage market...
At CENTUM, We Take Your Privacy Very Seriously
Posted on Jun 11, 2010
The Office of the Privacy Commissioner (OPC) recently issued an audit report on the Mortgage Broker Industry. Included in the audit were privacy concerns...
Rising Consumer Confidence in Real Estate Market
Posted on May 05, 2010
A TNS Vibe survey released today by TNS Canadian Facts – a marketing, opinion and social research organization – suggests that intentions among Canadians to buy a house or condo have risen to 14% from 11% last September. The survey, which interviewed more than 1,000 Canadians ...
The Score in the 2009 Tax Refund Game
Posted on May 04, 2010
Debt Reduction 1, Blowing the Cash 0 According to a recent survey, 48 percent of Canadians expecting tax refunds this year plan to use them to pay off credit cards and other bills. Only four percent of those surveyed plan to use tax refunds to pay down their mortgages. The Leger ...
Canadian Financial Institutions to Fight Global Bank Tax
Posted on Apr 15, 2010
Canada is holding its stance against an International Monetary Fund proposal that would introduce a global bank tax to hedge against future financial meltdowns. The proposal calls for taxes on bank profits and compensations, as well as borrowing. In an opinion article for London...
Posted by Dalia Barsoum
on January 4, 2011