***NEWSWIRE FROM BoC*** The Bank of Canada today maintained its target for the overnight rate at 1 ¼ percent. The Bank Rate is correspondingly 1 ½ percent and the deposit rate is 1 percent. Inflation in Canada is close to 2 percent as temporary factors that have been weighing on inflation have largely dissipated,…
DetailsThe Bank of Canada today maintained its target for the overnight rate at 1 1/4 percent. The Bank Rate is correspondingly 1 1/2 percent and the deposit rate is 1 percent. Global growth remains solid and broad-based. In the United States, new government spending and previously-announced tax cuts are anticipated to boost growth in 2018…
DetailsSelf-employment & mortgages in many cases are like oil and water the two hardly mix as the government has put in place strict rules about who can qualify for a mortgage and who can not. In Canada and in Quebec in particular self-employment is on the rise and as such business owners are finding it…
DetailsMontreal has had enough of tax hikes! This is the message that protesters brought to Point-Claire City Hall on Sunday afternoon. Mayor Valerie Plante can dress up the hikes as she wants but the Mille rate is about to change and it will have an impact greater than what you might think. Some of the largest…
DetailsThe Bank of Canada raises the rate in advance of analyst expectations. It was believed the BoC would not raise rates until well into the 2018 year. This has come as a surprise to many economists as the key indicators that are used to predict rate increases pointed in a different direction. The last announcement…
DetailsEducation in real estate is a key element in a successful real estate or financial decision you make. In 1999 when I got into this crazy world of finance I realized early on that consumers lacked in this fundamental component. I have personally witnessed the ruin of many a man and woman. Trusting underqualified financial security…
DetailsWe are at the dawn of a new market in real estate. What we once knew to be true has been changed by the government and is threatening the stability of our mortgage and real estate market. The changes that are scheduled to take effect in January of 2018 will not only impact the mortgage…
DetailsBank of Canada maintains the benchmark rate this was the announcement to come out of Ottawa last week. This news came on the heels of the latest mortgage rule changes that are about to hit the mortgage market in 2018. You can read more about that here Along with the rate announcement, the BoC released its…
DetailsOSFI dropped the hammer on the mortgage market this week. The changes to its mortgage underwriting standards were revealed and they are looking to further tighten the Canadian lending standards. This is the final revision of Guideline B-20 -Residential Mortgage Underwriting Practices and Procedures. The new rules will be taking effect on January 1st, 2018 and are applicable…
DetailsCanadians brace for more changes to the mortgage market. The dust has not settled yet on the last changes put in place to the Canadian mortgage market and the government has already indicated that further changes might be in order. In June of 2017, the Bank of Canada put out its semi-annual Financial Systems Review. The review…
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