Mortgage

The downside of QE3

The Federal Reserve’s latest attempt to aid the U.S. economy has hit a roadblock. Also, easing measures may not be as good for emerging markets as first appears.

By Wire services |September 17, 2012

1 min read

Industry

UPDATE: National Bank raises 3-year fixed mortgage rate

If you have clients with variable mortgage rates, it may be time to help them reconsider their repayment options. Over the last two weeks, banks across the country have been raising their three-year fixed mortgages. The moves has no doubt left buyers wondering if they should lock in now. Today, National Bank joined the rate-raising […]

August 30, 2012

1 min read

Industry

RBC alters two residential mortgage offers

RBC is increasing two of its residential mortgage rate offers, effective August 21, 2012. The changes are as follows: its five-year closed rate has been bumped up by 0.2% to 3.69%, and its three-year closed rate has been upped by 0.2% to 4.05%. The bank says the above rates are exclusive discounted rates, and aren’t […]

By Staff |August 20, 2012

1 min read

Industry

Housing prices won’t freefall: Laurentian

Following the release of BoC’s gloomy Monetary Policy Report last week, Laurentian Bank and its research team downgraded their provincial and national growth forecasts for Canada in 2012. It expects the country to grow only 2% over the next two years, and has released a new edition of the Provincial Monitor, a report highlighting the […]

July 25, 2012

2 min read

National Bank lowers residential mortgage rates

National Bank has adjusted its rates for residential mortgages. The changes are effective as of July 18, 2012, and are as follows: Fixed-rate closed term 6 months: Used to 4.45% and will now be 4% Fixed-rate closed term 1 year: used to be 3.5% and will now be 3.1% Fixed-rate closed term 2 years: used […]

By Staff |July 17, 2012

1 min read

Canadian real estate at a tipping point: report

Canadian home prices went up in Q2 and will continue to rise in areas such as Toronto and Winnipeg, says the latest Royal LePage report. But, findings suggest the country’s residential real-estate market is at a tipping point, with some areas likely too expensive for buyers at the current levels. Read: Advice for repeat homebuyers […]

By Staff |July 10, 2012

2 min read

B2B Trust converts to bank

B2B Trust has converted into a federally chartered bank named B2B Bank, effective immediately. Also, the company now offers a branded line of mortgage products—all other products and services remain unchanged. B2B is a subsidiary of Laurentian Bank and does business with more than 23,000 financial advisors.

By Staff |July 9, 2012

1 min read

New mortgage rules will affect clients

As of today, Canadian mortgage rules changed. But many homeowners aren’t familiar with the alterations or how they’ll affect their mortgages going forward, says a BMO poll. Lenders can now only issue home equity loans up to a maximum of 80% of a property’s value, down from 85%, and the maximum amortization period has dropped […]

2 min read

No buyer for CIBC’s FirstLine Mortgage unit

The Financial Post reports that CIBC has failed to sell its broker mortgage brand, FirstLine Mortgages, marking a rare occasions in which a large bank has been unable to find a buyer for one of its assets. Now, one of the country’s largest mortgage brokers will be gradually wound down, with some staff switched over to CIBC and others receiving compensation packages.

2 min read