Minister of Finance, Jim Flaherty announced 3 new mortgage rules to take effect on April 19, 2010. Keep in mind that these apply to Government backed mortgages – CMHC insured. Here are the rules which are excerpts from the announcement , the breakdown, and how they will impact Canadians:

1. Require that all borrowers meet the standards for a five-year fixed rate mortgage even if…

Looks like the Governor of the Bank of Canada, Mark Carney doesn’t agree with Canadian banks that there is a housing bubble in the making. Luckily, Finance Minister Jim Flaherty has been convinced of the same…for now, but this may change and we could see an implementation of lower amortizations with a maximum to 30 years…

Great article in the Montreal Gazette addressing a recent survey commissioned by the Canadian Association of Accredited Mortgage Professionals which indicates that mortgage clients are not taking “undue risks” when it comes to mortgages.

I tend to agree as the majority of clients that I see in Toronto and surrounding areas have an adequate buffer to weather rate increases, whether it be variable or fixed rate mortgages.  They mention…

What a great article this week in the Globe and Mail.  I love it as it shines a light on what is really  going on in the Canadian mortgage market, who the big player on the scene is, who takes the most risks (us), and who gets all the big buck bonuses (not us).

I would have to say…

The Bank of Canada met today and as expected kept their key interest rate unchanged at .25%.  While the Bank recognizes that a recovery is underway they have reduced their growth forecasts to 2.9% due to factors like a strong Canadian dollar and low levels of US demand for our exports.

Of course, rates will rise at some…

Here is an interesting article from the National Post last week. My guess is that most consumers are unaware of the fact that the government has added a May 1 deadline clause for the HST – not July 1st as most believe it to be for renovations. This could translate to significant additional costs for any homeowner…

Well this was some very welcomed news this week from the office of the Bank of Canada. For months now we have been hearing from the Federal Finance Minister Jim Flaherty that he feels there is a bubble occurring in the housing market in Canada – especially in urban areas like Toronto and Vancouver. This left a lot of my colleagues…

PC World Canada article dated August 25, 2009 – “How Canadian businesses can use email to build their client bases” featuring Kim Gibbons…