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Mortgage Financing

TD Canada Trust and CIBC raise mortgage rates

February 8, 2011

A rise in bond yields has prompted TD Canada Trust to raise some of its fixed-term mortgage rates by as much as a quarter of a percentage point. CIBC followed late in the day with similar rate hikes. “When bond yields go up it means the cost of funding for the bank has risen...
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CMHC Role In Mortgage Insurance Should Be Reduced.

February 1, 2011

In yet another commentary on the state of lending in Canada- and on the state of household debt, the CD Howe institute has released a report suggesting that CMHC’s role in mortgage insurance should be lessened. The report states that; “Governments’ role in mortgage markets is pervasive. An active role is often justified on...
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Banks in spotlight amid rising housing debt

January 27, 2011

Amid rising uncertainty around the Canadian economy many analysts are quietly expressing concern about the banks and their exposure to ballooning consumer debt. One statistic that gets bandied about is the value of outstanding mortgages which recently passed the $1-trillion mark. What happens if employment starts to deteriorate and a lot of borrowers suddenly...
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The hidden value in rental properties

January 25, 2011

In today’s interest-rate environment, using a rental property’s free cash flow to determine its value will significantly understate its potential return as an investment. Free cash flow is the money you are left with once mortgage payments, property taxes and maintenance/upkeep expenses are paid. Some rental investors take the amount they are left with...
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New Mortgage Rules

January 17, 2011

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada’s mortgage rules. Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent. Secondly,...
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Canada’s mortgage hazard

January 12, 2011

In a year-end interview, Finance Minister Jim Flaherty noted, “I find it just strange that I get some of the financial institutions telling me to mind my own business on regulatory matters — and then we have some worries about the level of consumer debt, and the banks are saying the government needs to...
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Mortgage rates to jump in 2011 says BCREA

November 29, 2010

The one-year fixed mortgage rate is forecasted to finish 2010 at around 3.2 per cent and reach 4.05 per cent by the end of 2011, according to the British Columbia Real Estate Association (BCREA). The association cites the Bank of Canada’s fiscal tightening and brighter economic prospects as the driving reasons. However, Joe...
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RBC, TD Canada Trust hike mortgages by up to a quarter of a percentage point

November 18, 2010

TORONTO – TD Canada Trust (TSX:TD) and RBC (TSX:RY) are raising some of their fixed-term mortgage rates by as much as one-quarter of a percentage point, beginning Wednesday. Both bank’s five-year mortgages, one of the most commonly chosen by homeowners in Canada, will rise 0.25 of a percentage point to 5.44 per cent. “Mortgage...
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