Once upon a time, a New Mortgage Lender was established in Canada. This New Mortgage Lender was designed to lend on ‘out of the box’ cases (also dubbed ‘B’ mortgages, Alt-A or Sub-prime mortgages) where a client that didn’t exactly conform to the general underwriting rules and requirements of ‘A’ mortgage lenders could still be [...]
December 6, 2011
From CAAMP industry circular, released December 6 2011 Bank of Canada Interest Rate October 25, 2011 1.00 % December 6, 2011 1.00 % January 17, 2012 Next meeting date Source: Bank of Canada Bank Prime Lending Rate October 26, 2011 3.00 % December 7, 2011 3.00 % January 18, 2012 Next meeting date Source: [...]
November 21, 2011
Do you understand what’s happening in Greece, Europe and through the rest of the economic crisis we’re seeing these days? Let us begin with some observations on the basic mechanics of sovereign debt default management, or to the average person, “balancing ones budget.” If you borrow $1 at a 5% simple interest rate, next year [...]
November 8, 2011
From ATB Financial’s daily economic comment, Nov 8, 2011 Activity in the energy patch has had trickle down effects on many sectors of Alberta’s economy recently, but residential construction has remained slow. However, with data out this morning showing that housing starts notched higher for the second time in three months that might be changing. [...]
October 27, 2011
This is a re-blog of our managing director’s MortgageShowDown blog from 28 Sep 2011 12:51 PM PDT Wait a minute, I thought that the government took away 100% financing in Canada – they did, sort of – what they did not take away was your opportunity for a no money down mortgage. Doesn’t this sounds [...]
September 19, 2011
This is a message that as a team of Mortgage Professionals we’re trying to get out to EVERY Canadian homeowner possible! Did you know? According to a 2010 study by CAAMP, on a national average, Mortgage Brokers complete about 50% of all new home purchase transactions. After the fact, Banks renew approximately 90% of [...]
September 7, 2011
September 6, 2011
By Todd Hirsch for ATB Financial’s Daily Economic Comment The value of one’s home is a fairly strong factor in determining consumer sentiment. Home prices are also important signals for potential buyers looking to get into the market. For both owners and buyers in Edmonton, the market this summer is summed up in one word: [...]
August 30, 2011
By Mary Gazze, The Canadian Press Canada’s national housing agency says it expects the country’s real estate industry will remain healthy in the second half of the year, building on favourable economic conditions in the first six months of 2011 Canada Mortgage and Housing Corp. said Monday that there have been fewer claims under its [...]
August 24, 2011
CMHC’s Q3 2011 Housing Now report available HERE Some highlights of the report: Housing starts: After moderating progressively since the second quarter of 2010, housing starts have rebounded in the second quarter of 2011. They are expected to moderate again over the course of the next three quarters. Housing starts are forecast to be 183,200 [...]
December 20, 2011