Mortgage News

Home is where the retirement money is

13/03/27 12:54 PM ET Ben Nelms for Postmedia NewsAllan and Karin Hoegg are pictured in their home in Vancouver, British Columbia on March 8, 2013. In 1995, Allan and Karin Hoegg were mortgage-free. But no more: today their Vancouver home is a valuable source of income as they plan for full retirement. Allan Hoegg says…

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Americans able to use homes as cash machine again as equity jumps most in 65 years

 13/03/26 10:02 AM ET ThinkstockU.S. property owners recaptured US$1.6 trillion as home values climbed to the highest levels since 2007. More American homeowners will be able to use their properties as cash machines again after real estate equity jumped last year by the most in 65 years. Property owners recaptured US$1.6 trillion as home values…

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Bank of Montreal set to hike 5-year mortgage rates as offer expires

Last Updated: 13/03/26 1:10 PM ET Brett Gundlock/Bloomberg: Signs of a cooling housing market had banks becoming increasingly competitive about roping in new customers. Bank of Montreal said on Tuesday its five-year fixed mortgage rates are set to increase this Friday as a limited-time offer expires. Concerns about a mortgage war reared up early this month…

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Watchdog to impose 1% surcharge on Canada’s top six banks deemed ‘too big to fail’

Last Updated: 13/03/26 10:09 AM ET National Post: The Office of the Superintendent of Financial Institutions plans to impose controls on the country’s biggest banks to protect them from a collapse that would hit the economy and taxpayers. OTTAWA — The Office of the Superintendent of Financial Institutions identified Canada’s six largest banks as systemically important…

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How to get the best deal on your mortgage

13/03/26 9:52 AM ET Sean Morphy and his wife got a very competitive mortgage rate when they made the jump to home ownership a little over a year ago but it took a long-term relationship with a mortgage professional to get them there. “Our advisor was a family friend so we trusted him,” says Morphy….

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Where do mortgage rates go from here?

13/03/25 11:53 AM ET Brett Gundlock / Bloomberg: Rates could also go lower but one problem might be an antagonistic finance minister in Jim Flaherty who keeps warning the banks not to get into a so-called “mortgage war” by lowering rates. They can’t go lower, can they? And what if mortgage rates start to climb,…

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Why a Cyprus bailout is good for Canadian REITs

Last Updated: 13/03/23 7:23 AM ET Simon Dawson/BloombergCanadian REITs could be a big benefactor from the crisis in Cyprus, says one analyst. Above, Cypriots in Nicosia line up to try and withdraw their money. Could a bailout in Cyprus be good for Canadian real estate investment trusts? At least one analyst thinks so. Chris Damas, an…

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Flaherty’s thrifty budget keeps Canada worthy of top credit rating in G7

 13/03/22 11:22 AM ET Adrian Wyld/The Canadian PressFinance Minister Jim Flaherty is applauded by his party after tabling the federal budget in the House of Commons on Parliament Hill in Ottawa on Thursday. Finance Minister Jim Flaherty safeguarded Canada’s status as the only Group of Seven country with a stable top credit rating after releasing…

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Tories crack down on CMHC with curbs on portfolio insurance

13/03/21 | Last Updated: 13/03/21 7:01 PM ET Brett Gundlock/Bloomberg: The new rules will “gradually limit” the issuance of low ratio mortgages to only those mortgages that are in the CMHC securitization program.The federal government is once again cracking down on Canada Mortgage and Housing Corp. and the mortgage insurance sector. In its Budget 2013 document, Ottawa…

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Younger Canadians pessimistic about ability to own a home, poll shows

13/03/21 | Last Updated: 13/03/21 4:04 pm ET Brett Gundlock/Bloomberg: More than 72% of poll respondents born between 1980 and 1994 — currently aged between 19 and 33 — said they were pessimistic about their ability to own a home because of housing prices. A large majority of Canadians in the so-called Y generation are worried…

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