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More Canadians Turning to Mortgage Brokers

A report released this week by Deloitte shows a significant rise in the number of home buyers who choose to use a mortgage broker to negotiate their home loans. The report says that 38 percent of mortgages in Canada were generated by mortgage brokers in 2009, up from 26 percent in 2003. Brokers are most popular among first-time buyers – with 44 percent of originations coming from this group. ...

Key Interest Rate Holds - Housing Markets Remain Stable

In a decision that didn't come as a surprise, the Bank of Canada today announced the decision to hold its key rate at 1 percent. While Canada rebounded from the global economic crisis much faster than its biggest trading partner – the United States, the sputtering U.S. economy is a major influence on the central bank’s reassessment of our forecast.  A rebound ...

Happy Thanksgiving from all of us at CENTUM

As we look forward to Canadian Thanksgiving Day on Monday, October 11, we decided to take a look back to see how much has changed on this day in history.  October 11, 1951 – the average five-year residential mortgage lending rate in Canada was 5.75 percent. October 1960 – A gold buying rush, triggered by speculation of a devaluation of U.S. currency, pushes the free market price of ...

Ottawa May Further Tighten Mortgage Lending Rules

Concerns about an overheating housing market have prompted Finance Minister Jim Flaherty to threaten further tightening of mortgage lending rules. In the meantime, his department will keep a close eye on market activity. The Finance Minister made the announcement following an October 4 meeting with economists from the private sector. Economists’ concerns stem from the ...
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