Canadians accustomed to cheap money are quickly realizing that the era of rock-bottom rates could soon be coming to a close.   Since the worst of the financial crisis, government interest rates in Canada and the United States have remained exceptionally low, and for the past three years government bond yields have kept falling to […]

CMP magazine is holding its sixth annual review of Canada’s Top 75 Brokers for 2012 funded mortgage volume, giving residential brokers the chance to win the top spots based on individual volumes.   In addition to the CMP Top 75, this year marks the second year of the Small Market Top 20 – a list celebrating […]

First-time homebuyers shopping for a mortgage have all the technology at their fingertips to make informed decisions, and financial experts say those resources should arm them with enough knowledge to prepare themselves, and even negotiate a better rate.   “In today’s environment, with so many things on the Internet, social media in general, there’s no […]

The Conservatives’ 2013 federal budget includes a job training grant, the elimination of CIDA, help for manufacturers and tariff cuts on sports equipment. Here are the key highlights. Spending restraint Finance Minister Jim Flaherty proudly noted the budget “contains the smallest increase in discretionary spending in nearly 20 years.” He also said, however, that money […]

Canada’s housing market is a bubble about to burst in some cities, or in the midst of a soft landing. Either way, a crucial piece of information on just what’s driving the market is missing in action. Unlike in other countries such as the United States and Australia, neither the Canadian federal government nor industry […]

 The way Jim Flaherty sees it, his July changes to Canada’s mortgage rules are having the desired effect on the housing market.   “Well, yeah,” the finance minister told The Globe and Mail. “I don’t mind prices coming down a bit, too.” Mr. Flaherty’s comments Tuesday followed new numbers showing Canadian home sales posted their […]

 Housing cools Canada’s housing market continues to cool markedly, with sales plunging 17.4 per cent in December from a year earlier. Prices, however, still held up, with a gain of 1.6 per cent from December, 2011. On a month-over-month basis, sales were little changed from November, the Canadian Real Estate Association said today. New listings […]

It would seem that regulators want to dissuade Canadians from buying homes with nothing down. Yet despite all of the recent changes, buyers can still get into the real estate market with little cash on hand. Ottawa did away with Canada Mortgage and Housing Corp .-insured 100 per cent financing back in 2008. Home buyers […]

The Federal govt controls hi-ratio mortgage lending…. (mortgages that are greater than 80% loan to value)…  There is a $600 billion limit for Canada Mortgage and Housing Corporation (CMHC… a federal corp).   And a $250 billion limit for Genworth Financial Canada (a private corp).   Last year, the govt reported CMHC was fast approaching it’s […]

When the forerunner of the Canada Mortgage and Housing Corporation opened shop in 1946, its job was to help war veterans find housing. From those humble beginnings, CMHC has emerged as a financial market giant. As this baby-boom behemoth contemplates life after 65, it, like many of us, should consider a more modest public role. […]