This week the stage completely was taken over by real-estate down-slides in major Canadian Cities.
Lately Bank of Canada is failing to deliver any news by keeping the rate at 1% and repeating the same fear factors. It feels like that the Europeans are in the drivers seat of Canadian economy. Unless they recover, Canadian Central Bank is unable to make any move – what a sad tale.
Mortgage News:
Pros and cons of faster mortgage repayment – Toronto Star
Don’t get burned – Edmonton Sun
ING’s broker days are numbered, says vet – CMP
Bank of Canada maintains overnight rate target at 1 per cent – BOC
Seneca College stops offering Mortgage Broker Program – Seneca
Bank of Canada hints at rate hike but stands pat for now – CBC
Xceed Mortgage Corporation Reports Third Quarter 2012 Results – CNW
Canada’s new mortgage rules will cool housing, but higher rates still needed: TD – Financial Post
Mortgage growth to slow: RBC’s Nixon – Financial Post
Ratings on Industrial Alliance but has assigned a Negative trend – DBRS
Canadian rates could rise ‘well before the end of 2013′: report – Financial Post
Real-Estate News:
Outlook for the credit risk profile of the Canadian real estate sector remains stable following its Q2 2012 review – DBRS
Canada among 7 best housing markets in the world – Financial Post
BC Home Sales to Rise in 2013 – BCREA
Vancouver home sales plunge, posting second-worst August since 1998 – Financial Post
August Toronto commercial real-estate transactions (via MLS) reported a 54% decline compared to August 2011 – TREB
August Toronto real-estate transactions (via MLS) reported a 12.5% decline compared to August 2011 – TREB
Real estate agent must be paid $15,000, court rules – Toronto Star
Financial News:
Too-big-to-fail and dividends: Can we have one without the other? – National Post
It’ll be business as usual for ING customers after Scotiabank buyout – Globe and Mail
Cash-flush Canadian banks shop for acquisitions – Globe and Mail
How to choose between student loans, lines of credit – Globe and Mail
Students Stressing More Over Finances than Academics – BMO 2012 Student Survey
Moody’s keeps U.S. banks on negative outlook – Financial Post
Student debt: Average payback takes 14 years – Financial Post
Pay more attention to banks – Winnipeg Free Press
Regulators should focus on continued threat from shadow banking: C.D. Howe – Financial Post
National Bank slapped with downgrade after PQ win – Globe and Mail
Fewer Canadians living pay cheque to pay cheque. Employees saving more – Canadian Payroll Association
47% of Canadians still live paycheque to paycheque – Globe and Mail
Other News:
2 Canadian Banks To Buy, 1 To Short On Housing Bubble Burst – Seeking Alpha
Japan may hike 1st-time mortgage discount: report – MarketWatch
Canada sets sights on revamped insurance regulation – Reuters
Bernanke took advantage of low rates to refinance – AP
Quote of the week
If the Bank of Canada is willing to take a more interventionist approach, it is likely that it would be able to assert greater control over the dollar, and steer onto a path that is less damaging to the growth of Canada’s exports of non-oil goods and services.
Peter S. Spiro, via — Petrodollar really a loonie bubble.
Thanks for reading. Have a good weekend.
