Prime rate increase in the cards
Variable rates should stay a good option as Prime is expected to stay at 3% for the rest of the year.
The Bank of Canada will be first up when it makes its monthly interest rate announcement on Tuesday. But that will come before Friday’s critical report from Statistics Canada on the country’s consumer price index for June.
Mortgage Market Primer
If you have any interest in the nitty gritty of Canada’s mortgage industry, TD Securities’ Eric Lascelles has put out this fantastic market overview: Canadian Mortgage Market Primer
Canadian Prime rate to go up only a bit.
Variable rate mortgages are now a good deal.
Canadian Mortgage Rates May Slide Down
The bond spread is at 2.15%. The comfort zone is between 1.50% and 1.75% so rates have room to decrease.
Toronto woman paying for mortgage fraud
A Toronto woman is being ordered to pay RBC $95,000 after failing to realize she was being tricked into a mortgage fraud.
Residential Mortgage Rates Lowered
Residential Mortgage Rates Lowered
Canadian Economy Gathering Steam
The Canadian economy is gathering steam, with Western Canada leading the way and all provinces participating, according to the Provincial Outlook report issued today by BMO Capital Markets Economics. Canadian growth is expected to reach 3.4 per cent in 2010 and 3.1 per cent in 2011, providing a strong rebound from the 2.5 per cent decline in 2009.
Alberta’s economy to rebound this year, lead nation in GDP growth
Alberta will experience a significant economic rebound this year and lead the nation in GDP growth, says a report released today by Scotiabank.
The report forecast GDP growth of 4.1 per cent for the province while overall Canadian growth would be 3.6 per cent, the strongest advance in a decade for the country.
Buyers still enjoy exceptional rates
I've said this before and I'll say it again: homebuyers today have it exceptionally good when it comes to mortgage rates.
I moved to Calgary and bought in the early 1980s when mortgage rates were something like 22 per cent. Try that on for size -- and compare it with what the rates are today, even after they moved off the historic bottom.
Buying a house is about life timing – not market timing
the best time to buy is when you can afford it.