Kelowna Mortgage Broker

Monthly Archives: February 2012

HSBC says it may face criminal charges for transactions

February 27, 2012 in Tom's News by Tom Mah
HSBC Holdings Plc said on Monday it will likely face criminal or civil charges from an expanding investigation into its ties to allegedly illegal money transactions, including some tied to Iran. The disclosure in a regulatory filing shows the increasingly serious nature of inquiries into the London-based bank’s business. HSBC already is the subject of [...]

Inflation up, mortgage interest costs down: StatsCan

February 20, 2012 in Tom's News by Tom Mah
While rising gas prices helped to drive up Canada’s annual inflation rate, mortgage interest costs fell for the second consecutive month. Gasoline prices climbed 2.8 per cent in January — its highest level since August of 2008 — pushing the inflation rate to 2.5 per cent, reversing December’s 0.6 per cent decline, according to Statistics [...]

Canadian banks call truce in easy-money mortgage battle

February 13, 2012 in Tom's News by Tom Mah
Grant Robertson — BANKING REPORTER From Thursday’s Globe and Mail Published Wednesday, Feb. 08, 2012 7:43PM EST Last updated Thursday, Feb. 09, 2012 7:12PM EST On Wednesday, Toronto-Dominion Bank (TD-T78.57-0.19-0.24%) pulled discount mortgage rates that were supposed to be available until the end of the month. Royal Bank of Canada (RY-T53.660.060.11%) did the same on [...]

Ottawa leans on banks to tighten lending

February 9, 2012 in Tom's News by Tom Mah
Jeremy Torobin AND Grant Robertson OTTAWA AND TORONTO— From Friday’s Globe and Mail Published Thursday, Feb. 02, 2012 1:13PM EST Last updated Monday, Feb. 06, 2012 7:43PM EST Ottawa is becoming increasingly uncomfortable with record-low mortgage rates being offered by some Canadian banks and the ease with which some institutions are advancing lines of credit. [...]

CMHC backing fewer loans

February 6, 2012 in Tom's News by Tom Mah
Garry Marr Jan 30, 2012 – 7:13 PM ET | Last Updated: Jan 30, 2012 7:18 PM ET Canada Mortgage and Housing Corp. is cutting back on mortgages it insures as the Crown corporation edges closer to a $600-billion cap imposed on it by the federal government, the Financial Post has learned. A CMHC spokesman [...]