The risk of mortgage rates rising to unaffordable levels in the near future is "negligible" and recent measures taken by Ottawa to clamp down on housing loans may be too harsh, says Canada's mortgage industry association. Due to the effect of tightened lending rules "housing demand...
Americans of all ages say they want to start saving more in 2011. Eight in ten Americans and 98 percent of young adults say they want to try to save more money this year, according to the Chase Slate-U.S. NewsConsumer Monitor survey. But despite those...
I still have an Eaton’s department store credit card even though there is no where to shop with it. That hasn’t stopped the long-forgotten card from making its way on to my credit report and ultimately affecting my credit score. When contacted by a representative of TransUnion...
TORONTO, Feb. 8 /CNW/ - Economic confidence has eased in British Columbia with fewer residents believing that the national economy will improve this year (46 per cent) compared to those who believed this last year (54 per cent), according to the January 2011 RBC Canadian...
Amid the noise of volatile-but-improving economic indicators, mortgage rate hikes are likely to repeat like a chorus in the coming months. Canadian banks are raising interest rates on mortgages, marking the beginning of a trend as they correlate with rising bond yields and expected monetary tightening. That’s...
Inside the world’s most expensive apartments http://t.co/9RreS13 via @YahooNews ...
Canada's mortgage industry association says tougher mortgage qualification standards introduced last April have worked to reduce Canadian debt, and may have made the stricter rules outlined this week unnecessary A report by the Canadian Association of Accredited Mortgage Professionals says new standards implemented last year have...
The Bank of Canada elected to hold its benchmark overnight lending rate steady at one per cent in its latest policy decision on Tuesday. "The global economic recovery is proceeding at a somewhat faster pace than the bank had anticipated, although risks remain elevated," the bank...
OTTAWA — Finance Minister Jim Flaherty unveiled changes Monday morning to mortgage lending rules that would see Ottawa stop backing home loans greater than 30 years and make it more difficult for households to use their property to access financing. The changes, as reported by the...
Federal Finance Minister Jim Flaherty announced tighter mortgage rules on Monday to combat concerns over high Canadian household debt. "In 2008 and again in 2010, our government acted to protect and strengthen the Canadian housing market," Flaherty told a news conference in Ottawa. "We continue to...