TD does collateral registrations and also look at everything you do on line. Not only do they love your money, they also love your data!
Stop trusting the big banks and talk to a mortgage broker to protect your data and your money.
This is just in from TD Economics, a .75% Prime rate increase is expected to be phased in – probably in 1/4% increases – starting in July 2017 and being fully in by December.
The rates they show below are for corporate rates, consumer rates are a bit higher.
Wages and home prices are sticky – economically speaking. No one wants to work for less than they did yesterday or sell their home for less either. So the prices hold.
Today, any busy real estate agent will tell you the home market for anything less than $450 – 500k is moving quickly if priced correctly. $500 – 750k is slower and above $750k is very slow. This all makes perfect economic sense.
All recessions are tough – but the sky is not falling. Below is one of the better articles we have seen on why this one will not be that bad.
Mortgage Mark Herman,
Calgary Alberta mortgage broker for home purchase and mortgage renewal.
Only two recessions in Calgary since 1987 and both more severe than 2015 forecastMario Toneguzzi, Calgary Herald
Published on: September 28, 2015 | Last Updated: September 28, 2015 3:42 PM MDT
While Calgary’s economy has been sluggish this year and most experts are forecasting a recession, it will be a mild one compared with what the city has gone through in the past.
This short version of the article should provide some confidence that the sky is not falling in Calgary and we will recover.
Mortgage Mark Herman, Best Calgary mortgage broker for home purchases and mortgage renewals
This bite of an article is as interesting and as funny as US interest rate increase articles can be.
See why it is better to have your mortgage broker follow this stuff for you then to read it yourself!
Below is a great example of how the Big-5 banks get you on a mortgage payout.
Always talk to a broker about your mortgage because Grandma used to say, “the rate is the rate, but the details are the details!”
Below is an article that notes Calgary’s home prices are still supported.
Mark Herman, top Calgary mortgage broker for purchases and mortgage renewals
Calgary’s housing market is not under threat of a correction despite a downturn in the local economy, Canada Mortgage and Housing Corp. said in an analysis Thursday.
Below is a great summary of why this rate cut is not a big deal mortgage wise.
All the banks kept their rates the same but for TD that lowered their Prime rate by 0.10% only. No other banks have followed yet and are not expected to. As you can see the banks will keep that rate cut to boost their profits … because they love money; specifically, your money, not you.
Here is a great summary of what is causing mortgage rates to be nosing up in the near future. They really should have gone up by now but the anticipated “Spring housing market rush” competition with the banks is holding them down.
Mark Herman, top Calgary, Alberta mortgage broker for home purchases and mortgage renewals
The latest round of economic data has real-estate watchers returning their focus to interest rates.
- Activity in the bond market and the latest employment numbers are fueling predictions there will be a bump in fixed-rate borrowing costs in the near future.
- Employment improvements are generally seen as a harbinger of inflation. That, along with other domestic and international considerations, is pushing up government bond yields, which in turn drive fixed mortgage rates.
- There is also the notion that the big, trend-setting lenders will be looking to move rates up to bolster profits.
- As well, Bank of Canada Governor Stephen Poloz has hinted he might be willing to let inflation run in order to avoid hiking the policy rate. That would also put upward pressure on government bond yields.
The graph we watch to show us this is here: