The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 percent. The Bank Rate is correspondingly 3/4 percent and the deposit rate is 1/4 percent. The global economy is progressing largely as the Bank anticipated in its January Monetary Policy Report (MPR). Financial market volatility, reflecting heightened…
DetailsThat’s right! We’re slowing headed into another buying season in Quebec. Many Quebecers and Canadians alike are contemplating the sale of their property or perhaps that first purchase. This blog entry will focus on the latter. First time home buyers are my favorite clients to work with. Maybe it’s the former teacher within me that’s speaking. There is so much…
DetailsA couple of weeks ago I had a client tell me that his bank advised him that all banks calculate penalties the same way. Well although on the surface banks will use similar methods to calculate the penalty. What differs is what rates they use to determine the penalties. Many don’t realize this but virtual…
DetailsIt will come as no surprise to many listeners of the Real Estate Show to find out that Bank of Canada cut the key overnight rate down to .50% today. However, we once again are seeing banks attempting to put money in their pockets by not following through with a full prime rate reduction. The…
DetailsOver the past few months, I have had the privilege and honour to help hundreds of people discover a mortgage solution that meets their needs. Some clients came to me because they were prospective first-time homeowners. Others came to me because they were in the process of downsizing their home. Others needed to reorganize and…
DetailsOn April 2nd, 2015 the CMHC conducted its annual review of the various products and services that it offers and it found that the largest group of defaulting mortgages is those who put a down payment of less than 10%. With these findings, they now have decided to increase once again the amount charged to home buyers. This is…
DetailsBy Eleni Akrivos – mtltimes.ca If you are a buyer and just found your perfect home at the right price, the next logical and crucial step is the home inspection. Are you ready? As a seller, you may be excited to have an agreed upon offer to purchase, yet to move forward with the transaction,…
DetailsThe Globe and Mail – April 2, 2015 Canada’s federal housing agency is raising mortgage insurance premiums as part of a plan to boost its capital reserves. Canada Mortgage and Housing Corp. said it is raising premiums on the highest-risk mortgages – borrowers who have down payments of less than 10 percent – by 15…
DetailsThe central bank says economy performing in line with expectations laid out in January By Pete Evans, CBC News Posted: Mar 04, 2015 10:09 AM ET Last Updated: Mar 04, 2015 4:57 PM ET The Bank of Canada kept its benchmark interest rate steady at 0.75 percent on Wednesday, a sign the bank thinks there’s no need for another…
DetailsWhy Isn’t My Home Selling? – 5 Mistakes to Avoid By: Eleni Akrivos – mtltimes.ca More than a few years ago, it used to be that in Montreal and surrounding areas, your real estate agent would put up the sign for sale in front of your home, and in a matter of time, it was…
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