This week rates went down a bit. Does not look like it is going to last longer. Some banks were offering lower rates but they are taking a break now. Few no-frills lenders are still offering super low rates. I saw that CMT is now offering 2.88 for 5 years fixed. Market is really going dull now and that is why the lenders are going all-out.
We have seen a lot of open houses recently. Not sure why but it is not usual indeed.
Mortgage News:
Builders put home buyers into credit boot camp – Financial Post
New mortgage rules cooling home sales across the country, report suggests – Winnipeg Free Press
Man sentenced to three years in prison for mortgage fraud, Fredericton, N.B. – RCMP
New rules cooling home sales, report suggests – Vancouver Sun
Real estate cooling hits home – Montreal Gazette
B lenders losing appetite for BFS – CMP
Should young Canadians with home ownership dreams keep dreaming? – Globe and Mail
Will there ever be a single national mortgage broker regulator? – MBABC
Is it time to regulate road reps? – CMP
Real-Estate News:
Single homebuyer trend up – Calgary Herald
Should we stop encouraging home ownership? – CBC
Toronto new home sales fall to record low for August – Financial Post
Housing market cool down widespread across Canada – Financial Post
Home Buying: What’s on the market for $500,000? – Globe and Mail
Tighter mortgage rules are cooling the housing market across Canada, Conference Board finds – MACLEANS
Canada’s housing crash begins – CB
Homeownership in Canada: A love story – ComFree survey
Why I don’t regret buying my home – or renting longer – Globe and Mail
Financial News:
Britons’ inflation fears rise again: survey – Reuters
Which Canadians have the highest level of financial knowledge? British Columbians believe they do: – RBC Canadian Consumer Outlook
High Debt: That’s O.K., Say Many Canadians – poll
Canadians willing to pile on debt to cover unexpected costs: survey – Financial Post
Canada: Retail sales rebound – Desjardins
One in five Canadians have used social media to get a customer service response – Research by Amex
Canada’s economic growth in July beats forecast – CBC
Other News:
Honesty and Integrity in Internet Advertising – RECA
When the going gets tough, banks with the most branches win – Financial Post
Mortgage Rates Aren’t The Problem … Or the Solution – Fox Business
Quote of the week
Is it still relevant for the Bank of Canada (BoC) to keep mentioning that a rate hike may become appropriate?
Desjardins via — Will the Bank of Canada hold on to its forward guidance?.
Thanks for reading. Have a good weekend.
