Next week’s federal budget will only contain “modest” spending reductions and will be primarily focused on longer-term issues like reforming Canada’s innovation and immigration programs, says Finance Minister Jim Flaherty. Speaking to reporters Thursday exactly one week before he releases what is expected to be a weighty and wide-ranging federal budget, Mr. Flaherty portrayed the [...]
Canada’s bank regulator has issued a set of draft guidelines on mortgage underwriting that, if approved, would significantly increase the level of transparency around one the industry’s most important and least understood businesses. Based on similar principles released by the Switzerland-based Financial Stability Board at the end of last year, the proposed rules cover everything [...]
Rob McLister, CMT Two years ago, the government pledged to “standardize the calculation and disclosure of mortgage prepayment penalties.” It addressed the disclosure problem last week (see: New Mortgage Penalty Disclosure), but it has done nothing to standardize the actual calculation itself. This lack of action irritates some consumer advocates. They feel that lenders’ convoluted [...]
Garry Marr Mar 2, 2012 – 3:30 PM ET | Last Updated: Mar 8, 2012 12:52 PM ET Financial Post A new report suggests Toronto’s condominium market may have finally peaked in 2011 but Calgary’s may be just catching fire. The report from real estate research firm Altus Group notes new condominium sales climbed more [...]
Low rates fuel home prices in first quarter: Report
08/04/2012 mortgagebrokernews.ca Low rates and high temperatures conspired to increase home prices in the first quarter of 2102, according to the latest numbers from one of the country’s largest real estate organizations. The Royal LePage House Price Survey showed the average price of a home in Canada increased between 2.2 and five per cent in [...]