7 Jul

Bank Of Canada Business Sentiment Lowest Since 2009

General

Posted by: Livian Smith

BANK OF CANADA BUSINESS SENTIMENT LOWEST SINCE 2009 Canadian Business Sentiment Is Negative  The Bank of Canada released its Summer Business Outlook Survey (BOS)* this morning, covering an interview period from mid-May to early June. In all provinces and all sectors, the sentiment was hugely negative owing to the impact of the pandemic and falling oil prices. […]

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9 Mar

Global Markets In Turmoil As Oil Plunges, Propelling Yields To Record Lows

General

Posted by: Livian Smith

GLOBAL MARKETS IN TURMOIL AS OIL PLUNGES, PROPELLING YIELDS TO RECORD LOWS Global Markets in Turmoil, Oil Prices Plunge Along With Yields Markets shuddered in the face of a price war for oil and the economic fallout from the growing outbreak of coronavirus. Frightened investors poured into haven assets sending yields to unprecedented lows. Oil […]

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4 Mar

The Bank Of Canada Brings Out The Big Guns

General

Posted by: Livian Smith

 The Bank of Canada Brings Out The Big Guns Following yesterday’s surprise emergency 50 basis point (bp) rate cut by the Fed, the Bank of Canada followed suit today and signalled it is poised to do more if necessary.The BoC lowered its target for the overnight rate by 50 bps to 1.25%, suggesting that “the […]

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29 Feb

Virus Anxiety and the Canadian Housing Market

General

Posted by: Livian Smith

VIRUS ANXIETY AND THE CANADIAN HOUSING MARKET Virus Anxiety and The Canadian Housing Market As though things weren’t volatile enough, a new wave of virus terror is wreaking havoc on global financial markets. The novel conronavirus, COVID-19, continues to spread causing panic in worldwide stock and bond markets for the seventh day. Share prices have […]

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18 Feb

Morneau Eases Stress Test On Insured Mortgages

General

Posted by: Livian Smith

MORNEAU EASES STRESS TEST ON INSURED MORTGAGES Minister Morneau Announces New Benchmark Rate for Qualifying For Insured Mortgages The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the […]

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19 Jan

Weak New Listings Slow Canadian Home Sales As Prices Continue To Rise

General

Posted by: Livian Smith

WEAK NEW LISTINGS SLOW CANADIAN HOME SALES AS PRICES CONTINUE TO RISE. Sellers Housing Market  Now in the Greater Toronto Area (GTA) Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home […]

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13 Nov

Principal & Interest

General

Posted by: Livian Smith

PRINCIPAL & INTEREST Principal and interest are the two components that make up a mortgage payment. Principal is the portion of your payment that goes towards paying down the outstanding balance of your mortgage. Interest is the other portion of your payment which goes directly into the pockets of your lender and does not contribute […]

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23 Sep

Fixed Rates Outweighing Variable

General

Posted by: Livian Smith

FIXED RATES OUTWEIGHING VARIABLE We are currently in a very unique situation when it comes to 5-year fixed and 5-year variable interest rates. For the first time in almost a decade, the lowest 5-year fixed interest rate is more than 0.30% lower than the lowest available variable interest rate for new mortgages. For some, their […]

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16 Sep

First Time Home Buyers Incentive Program

General

Posted by: Livian Smith

FIRST TIME HOME BUYERS INCENTIVE PROGRAM The new First Time Home Buyer Incentive program from CMHC (Canadian Mortgage and Housing Corporation) was officially released on September 2. This program was met with mixed reactions across the mortgage industry, but we wanted to take a minute to give you the facts regarding the program. Below are […]

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