The Bank of Canada hiked its key interest rate by a quarter point today, for the second month in a row.
In its statement the Bank noted that it "expects the economic recovery in Canada to be more gradual than it had projected in…April, with growth of 3.5 per cent in 2010, 2.9 per cent in 2011, and 2.2 per cent in 2012. This revision reflects a s ...
Few things are more heartbreaking
than finding the perfect home for you, but then getting turned down
for a mortgage. By knowing some of the common reasons lenders
reject otherwise qualified applicants, you can be proactive in
avoiding them. Here are a few rejection reasons:
Credit Score Secrets
by Gail Vaz-Oxlade, for Yahoo! Canada Finance
Thursday, May 27, 2010
Ever wonder how that magical number - The Credit Score - is
computed?
Whether you're obsessing over your FICO score or your Beacon score,
you're likely shopping for credit. The FICO score was developed by
Fair Isaac & Co., which began credit scoring in the late 1950s.
The point of the score is consol ...
Q & A Government Regulatory Changes
New Qualifying Rate Rule Changes for both Conventional and Insured (CMHC/Genworth) Mortgages:
Do the new qualifying rate rules apply to both conventional and insured mortgages?
Yes. Similar to today, our policy will use the same qualifying rate rules for both conventional and insured mortgages
If I have a pre-approval prior to April 19th wil ...
When will the Bank of Canada raise interest rates and by how much?
Posted to FP: April 12, 2010, Jonathan Ratner
With most agreeing that a rate hike from the Bank of Canada is imminent, the talk now turns to the exact timing and extent of the central bank's policy changes.
Governor Mark Carney made a "conditional" promise to keep the benchmark interest rate at 0.25% through the end of Jun ...
By Julian Beltrame, The Canadian Press
OTTAWA - The Bank of Canada is keeping interest rates at historic lows for a few more months, while sending out signals that the economy is rebounding strongly and could trigger inflationary pressures.
The central bank's more positive take on the economy followed a Statistics Canad ...
Government of Canada Takes Action to Strengthen Housing Financing
Mortgage changes target 'reckless' buyers: Flaherty
The question most heard yesterday was, "what 5 year rate will they have to qualify on?".
It will be the 5 year rate at that institution granting the commitment. As the client was having to qualify on that institutions 3 year rate, it will now be their 5 year rate.
Th ...
Deciding on a mortgage
It is generally less expensive to continually roll over a short-term mortgage than to commit to a long-term one
Eric Tyson and Tony Martin
Published on Tuesday, Feb. 02, 2010 1:04PM EST Last updated on Tuesday, Feb. 02, 2010 1:06PM EST
This is the sixth in a series of 10 excerpts from Investing for Canadians for Dummies.
Whether to go for a short- or long-term mor ...
Historical Rate Sheet
2009
Comparison of the "Fixed" rate vs the "Variable" rate....2009
Strategies to Pay Off Holiday Purchases
With holiday purchases - a lot of them put on plastic - soon coming due, many Canadians are sorting through bills and realizing that they have too much high-interest credit card debt. This new year, consider taking charge of borrowing costs by paying off higher-interest consumer debt with funds secured through mortgage financing.
A common mort ...