Mortgage, Money and Dream – Our thoughts on Canadian Mortgage Market
Call Us: 416-930-1225

Mortgage News:

  • TD Canada Trust changes residential mortgage rates – CNW
  • BMO Bank of Montreal Changes Mortgage Rates – BMO
  • What qualifies as a good credit score? – Globe and Mail
  • CIBC’s Plan to Sell Mortgage Centre – CMP
  • The case for locking in your mortgage – Globe and Mail
  • New CMHC head leads focus on financial industry, risk management – Vancouver Sun
  • Monoline Lenders Unplugged – CMT
  • Extension granted on MIC regulations – CMP

Real-Estate News:

  • Buy or Rent? BMO Economics Says Canadian Home Prices Are Not Highly Overvalued – BMO
  • May 2013 Housing Starts in Canada – CMHC
  • Condo market lifts housing starts, raises spectre of overbuilding – Globe and Mail
  • Home building surge signals soft landing for housing market – FP
  • Canada Housing Starts Rise at Fastest in 13 Months on Condos – Businessweek
  • What sells condos? Grocery stores – Globe and Mail
  • Spring puts bounce back in Canadian home prices – FP
  • Canadian house prices up 1.1 pct in May from April – Teranet – Reuters
  • Government charges blamed for record new home costs – Toronto Star
  • Overpriced Toronto condo market a risk to economy, says Bank of Canada – Toronto Star
  • Cooling Canada’s housing market will take time – central bank – Reuters
  • Google Glass real estate app promises a simpler house hunt – Financial Post
  • Two-Thirds (65%) of Torontonians Support Plans to Eliminate the Toronto Land Transfer Tax – Poll

Financial News:

  • How strong is the economy Canada’s Mark Carney leaves behind? – The Guardian
  • How to graduate without student debt – Toronto Star
  • CDIC Announces Memorandum of Understanding with U.S. Federal Deposit Insurance Corporation – Marketwire
  • Carrick on money: Credit cards make you dumber, fatter, poorer – Globe and Mail
  • If parents die in debt, do children inherit the bills? Not necessarily – Globe and Mail

Other News:

  • Is US housing in a real recovery? Maybe not – Globe and Mail
  • Detroit defaults on some debt to avoid bankruptcy filing – Reuters

Quote of the week

Any correction in condominium prices could spread to other segments of
the housing market as buyers and sellers adjust their expectations. Such a correction would reduce household net worth, confidence and consumption spending, with negative spillovers to income and employment. These adverse effects would weaken the credit quality of banks’ loan portfolios and could lead to tighter lending conditions for households and businesses. This chain of events could then feed back into the housing market, causing the drop in house prices to overshoot.
via — Bank of Canada Financial System Review

Thanks for reading. Have a good weekend.