Calgary is 1 of North America’s Fastest Growing Cities
North America’s fastest-growing Cities
Forbes has indicated a bright future for Alberta’s premier city, naming Calgary one of North America’s fastest-growing metropolises. According to Forbes, with Canada’s and the US’ major land mass, the area is expected to develop more than 100 million by the year 2050.
Landlords Dodge New CMHC Rule
Landlords Dodge New CMHC Rule
The recent changes to CMHC rules on qualifying for investment mortgage are having an effect that is causing havoc on an investor’s debt-service ratio, making it difficult for investors to qualify without a more-than stable personal income.
TD changing to collateral loans for mortgages – the bad news
TD is changing their mortgages to collateral loans as standard.
We think this is to keep people from refinancing with another bank because TD is not offering competitive rates. There are also some other negative points to the new TD mortgage listed below:
Canadian Prime staying at 3% – maybe for half a year
Comment – this article exactly summarizes our thoughts for how things will play out:
Prime will stay at 3% for 6 months, mortgage rates will stay low as long as the stock market bounces all over the place and now is a great time to take advantage of the situation by redoing our mortgage or buying.
Bank of Canada holds key rate at 1%
OTTAWA — Interest rate hikes are on hold until at least the spring and maybe as long as late 2011, analysts say, as the Bank of Canada decided Tuesday to keep its policy rate unchanged amid weaker-than-anticipated growth, especially in the United States.
TD mortgages get harder to get out of
Comment:
TD mortgages just became less appetizing as they are now very difficult to get out of. We do not use them much and now even less.
TD bank overhauls mortgage program
| Wednesday, 13 October 2010 TD bank is redesigning its mortgage program to make it easier for homeowners to tap into their equity and harder for them to switch to another lender when their mortgage renewal comes up. The main difference of the overhaul is a switch to collateral-charge mortgages, which are similar to lines of credit. The bank is encouraging employees to approve customers at 125 per cent of a home’s actual value with certain conditions, so the homeowner can easily borrow more money if the property value increases. Unlike traditional mortgages, collateral mortgages are difficult to transfer from one lender to another because they must be paid in full to be cancelled.Prime to stay the same until March 2011
Rates to stay the same until March 2011
Canada’s homeownership costs continue to climb despite slowing resale activity
Canada's homeownership costs continue to climb despite slowing resale activity
Interesting inside view of the banks and mortgages
Banks hold most of the cards in mortgage game
John Greenwood, Financial Post · Friday, Sept. 17, 2010
To understand the housing market and where it’s headed, it’s a good idea to take a close look at the big banks.
Canada’s economic growth expected to continue in 2010
Canada's economic growth expected to continue in 2010
Fears of Canadian Housing Market Slump Overblown
Fears of Canadian Housing Market Slump Overblown