Moody’s cuts ratings on Italy, Portugal and Spain and RBC at risk of two-notch downgrade.
Mortgage News:
Canadian Govt Bond yilds moving up – Chart
The debate over Canadian debt data Globe and Mail
Mortgage brokers undercut banks – National Post
FirstLine sale represents opportunity: Murphy – CMP
Home Trust making money – CNW
Handle lines of credit with care – Globe and Mail
Toronto Bubble Risk Tops New York in Condos – Business Week
TD boss edgy about consumer debt levels – Montreal Gazette
Industrial Alliance Reports its 2011 Financial Results – Robust Results Dampened by Low Interest Rates – CNW
Canadian dealers see next BoC rate hike in 2013 – Reuters
Real-estate News:
CMHC sees steady housing market ahead – Toronto Star
Housing Demand in Ontario Will Moderate but Remain Steady in 2012 – CMHC
Toronto Bubble Risk Topping New York in Market for Condominiums: Mortgages – Bloomberg
Home prices to rise slightly in 2012: CMHC – Reuters
Canadian home sales pull back in January – CREA
Housing cools as sellers hold back – Globe and Mail
The Toronto housing market comes to an early boil – Globe and Mail
Housing crutch abandoning banks – Financial Post
The average selling price during the first 14 days of February was $491,493 – up by nine per cent compared to the first 14 days of February 2011 – TREB
GTA real estate: Average price nudges $500,000 – Toronto Star
Buyers out in the cold – Montreal Gazette
Never buy a house without a home inspection – Toronto Star
Financial News:
What it means when a country defaults – CBC
Think Canada’s unemployment rate is on rise? Think again – Globe and Mail
Carney, Flaherty say proposed US bank crackdown could sideswipe Canada – Toronto Star
Ontario report urges austerity to tame deficit – Reuters – on Drummond report.
Moody’s may downgrade 17 banks, securities firms – Reuters
Fee income to buoy Canadian banks: CIBC – Financial Post
RBC covered bonds to remain strong despite ratings review: Moody’s – Financial Post
Canada January Inflation Unexpectedly Quickens to 2.5% on Food, Gasoline – Bloomberg
RBC criticizes Moody’s review – Calgary Herald
Other News:
US Mortgage Loan Delinquencies Increase for Second Time Since 2009 – TransUnion
Fed approves Capital One acquisition of ING Direct – Associated Press
Scotch, Cars And Mortgages – Greg Williamson
Should you remortgage or take out a secured loan? – My Own Advisor
Citigroup pays $158M to settle mortgage fraud – AP
Foreclosure abuse rampant across U.S., experts say – Reuters
TransUnion to be acquired in $3B deal – AP
Deal or disaster? – Calgary Herald
Quote of the week:
The “way everybody does it” in the car business is to stretch out the length of the loans and lease ?payments so as to offer the lowest monthly payment as a means of getting people to buy from them.
– Greg Williamson – via his blog post.
Thanks for reading. Have a good weekend.
