Last week CMHC was the headline. It started with the housing start number and continued with its emili. Another interesting thing came to our attention is Manulife is claiming to be offering the lowest Canadian mortgage interest rate. Usually everyone – who sell mortgage – do that, but not very openly. You can check what rate they are offering here. See for yourself if this the lowest or not. (Manulife gotta work on their web design. The hyperlink was longer than 10 lines)
We had a chat with CMP last week on lower broker compensation. Honestly – contrary to what others say about broker payment – if a broker is making $500 a deal then does it really worth? Borrowers should stop thinking that brokers can always buy their rates down. Rather focus on the products they offer.
Mortgage News:
- Mortgage prepayment: Know your options – FCAC
- Canada’s Big Six banks still unfazed by consumer debt levels – Globe and Mail
- Mortgages and loans – harder for the self-employed? – Globe and Mail
- The Impact of Changes to Mortgage Rules on BC Home Sales – BCREA
- Tougher mortgage rules cited as Montreal sales drop 19 per cent – Montreal Gazette
- MF cuts Canada’s outlook, frets over housing, consumer debt – Globe and Mail
- New mortgage lending guidelines raise industry concerns – Vancouver Sun
Real-Estate News:
- September 2012 Housing Starts in Canada Lower Than August – CMHC
- Canadian Housing Starts – CMA
- New hints of ‘soft landing’ for housing market as construction hums along – Financial Post
- Housing starts slow as condo market cools – Financial Post
- Majority of Calgarians polled believe housing market is affordable – Calgary Herald
- CMHC ‘emili’ Database May Be Pushing Up House Prices: Report – Huffington Post
- CMHC defends automated home price evaluation system – CBC
- Why Toronto-Dominion Bank thinks Canada is ‘overbuilt’ – Globe and Mail
- Forget a condo – house seller should rent – Globe and Mail
Financial News:
- Pension funds develop appetite for risk – National Post
- Growth in Canadian Economy Led By Western Provinces – BMO
- Canada’s debt levels a risk to growth: IMF – Financial Post
- Canada’s economy will take a little bit of a hit from housing during the third quarter – Vancouver Sun
- More Canadians are debt-free in 2012 – RBC Poll
- Equifax settles U.S. charges of improperly selling consumer data – Reuters
- Taking your debt temperature – Financial Post
- Small business owners think Canada’s banks can do better: JD Power – National Post
- Scotiabank tops small-business customer satisfaction: survey – Globe and Mail
- Lines of credit: 10 things you need to know – Toronto Star
Thanks for reading. Have a good weekend.
