Mortgage News:
Broker raises red flag on collateral mortgage abuse – CMP
Stated income just as good as T4: experts – Financial Post
Mortgage affordability depends on how rate hikes come in – Financial Post
Collateral mortgages: Why banks like them – Toronto Star
Breaking your mortgage? Know the rules – Toronto Star
BMO soldiers on with sub-3% mortgage rate – Financial Post
Banks can absorb hit to housing market: Ed Clark – Financial Post
Onus for mortgage regulation on banks, not Ottawa: Scotiabank CEO – Globe and Mail
Why the federal budget said nothing about mortgages – Maclean
Canada Guaranty mortgage insurance now available through Scotiabank – Canada Guaranty
Thousands of agents walk away from industry – CMP
Regulator calls on bank boards to tighten lending policies – Globe and Mail
Flaherty says up to banks to “fix” mortgage market – Reuters
Some banks ignoring mortgage rules, regulator says – Ottawa Citizen
Canadians think the low mortgage rates are here to stay—and aren’t planning – Macleans
Use mortgage renewal to pay down debt – Globe and Mail
Real-estate News:
Overwhelming majority of Canadians still confident in homeownership and see market shifting in favour of sellers – RBC
First-time homebuyers will drive the housing market – Genworth
More Canadians holding off home purchase, despite low rates – CMP
Scotiabank CEO cautious, not pessimistic, on housing – Reuters
Canada Will Manage Through Housing Problems, Scotiabank Says – Bloomberg
Canada Boosts Housing Oversight as Banks Warn on Economy – Bloomberg
Homebuying Step By Step – CMHC
The average selling price in the GTA was up by 10.5% in comparison to March 2011TREB
Toronto’s condo boom continues after record 2011 – Toronto Star
Most Canadians plan no home buying in next 2 years: RBC – Reuters
Bidding war for a home on a busy Toronto street – Globe and Mail
Unprecedented ‘mortgage sale’ and consumer confidence fuel real estate prices in first quarter 2012 – Royal LePage
Financial News:
Carney fires back at bankers, says Ottawa didn’t pause when they needed rescue – Canadian Business
Video: The future of Canadian banks – Globe and Mail
Royal Bank of Canada has been accused of a wash-trading scheme by a US regulator. – Globe and Mail
US Economy Enters Sweet Spot as China Slows – Bloomberg
RBC vigorously rejects CFTC allegations as unwarranted – RBC
Canadian regulators play catch-up on US RBC charges – Globe and Mail
Consumer Credit Reaches Record Levels – Cause for Concern, Not Panic: – C.D. Howe Institute
Bank of Canada’s Carney rejects pause in reforms – Reuters
Canada’s job gains blow past forecasts – Ottawa Citizen
The big question: What to pay first? – Montreal Gazette
Job Numbers Show Economic Momentum – BMO
Other News:
Best Buy May Be Cut to Junk at S&P Amid Small-Store Shift – Bloomberg
Firm dropped by Visa says under 1.5 million card numbers stolen – Reuters
Spain’s debt to jump to 78 percent of GDP: De Guindos – Reuters
Could Colleen Johnston be TD’s next chief exec? – National Post
Time is Now for the Ontario Government to Ban Credit Scoring to Protect Consumers – Insurance Brokers Association Of Ontario
Disappointing March jobs report sends futures lower – Reuters, US.
Quote of the week:
It’s up to the banks themselves – not government or regulators – to manage our risks and advise our customers appropriately.
by Rick Waugh via — Globe and Mail.
Thanks for reading. Have a good weekend.
