Mortgage insurance market heating up
Filed Under Main Content · Tagged: Bank Mortgage, Care Insurance, Default Insurance, Insurance, Insurance Market, Mortgage Default, Mortgage Insurance, Mortgage Insurer, Mortgage Market, Mortgage Payments, National Insurance, National Mortgage, Rare Event
National Post- Mortgage default insurance is something you have to pay if you can’t come up with a 20% down payment on your house.
You pay the premium and the insurance covers the bank in the rare event — defaults in this country are still below 1% — you don’t make your mortgage payments. But it is a transaction between your bank and your mortgage insurer.
So, why should you care about the mortgage default insurance market and another new entrant into the market…?
Mortgage insurance market heating up
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Filed Under Main Content · Tagged: Bank Canada, Bank Montreal, Bank Mortgage, Bank Of Canada, Bank Of Montreal, Canada Economy, Discount Mortgage, European Union, Financial Markets, Global Economy, Harbinger, Interest Rates, Key Mortgage, Mortgage Rate, Percentage Point, Rate Increases, Term Bonds, Turmoil, Uncertainty, Vancouver Sun
Vancouver Sun- On the same day the Bank of Canada bumped its key lending rate up, a major chartered bank edged a key mortgage rate down, moves that reflected the continuing uncertainty in world financial markets.
The Bank of Canada on Tuesday became the first G7 central bank to raise interest rates since July 2008, hiking its key overnight lending rate one-quarter of a percentage point to 0.5 per cent in a long-anticipated move aimed at keeping Canada’s recovering economy from overheating.
However, with uncertainty over the global economy mounting due to turmoil in the European Union, the pressure for future short-term rate increases might be easing.
The turmoil has caused interest rates for longer-term bonds to fall, allowing the Bank of Montreal to trim its five-year discount mortgage rate one-tenth of a percentage point to 4.25 per cent…
Bank of Canada rate bump not necessarily a harbinger of hikes to come
Royal Bank hikes mortgage rates again
Filed Under Main Content · Tagged: Bank Canada, Bank Mortgage, Bank Of Canada, Banks, Basis Points, Federal Reserve, Fixed Mortgage, Fixed Rate Mortgage, Homebuyers, Mortgage Rates, Mortgages, Post Canada, Rate Increases, Royal Bank Of Canada, Third Time
Financial Post- Royal Bank of Canada is leading the charge to higher mortgage rates, boosting the cost to new homebuyers for the third time in less than a month.
The country’s biggest bank said Monday it is lifting the rate on most mortgages by 15 basis points.
After hikes of 60 basis points and 25 basis points respectively, Monday’s hike brings the rate on Royal’s five-year closed fixed-rate mortgage to 6.25%.
When Royal hiked rates in late March and earlier this month, the other big banks followed suit soon after.
The banks say they are raising mortgage rates because their own cost of funding is going up ahead of expected rate increases from the Bank of Canada and U.S. Federal Reserve this summer…
Royal Bank hikes mortgage rates again
Expect interest rate cuts, but is Bank of Canada running out of bullets?
Filed Under Main Content · Tagged: Bank Canada, Bank Lending Rates, Bank Mortgage, Bank Of Canada, Bullets, Inter, Interest Rate Cuts, Interest Rates, Mortgage Bank, Mortgage Lending Rates, Mortgage Rates, Ottawa, Rates Mortgage, Running
The Canadian Press – OTTAWA Interest rates that count, such as inter-bank lending rates, mortgage lending rates, bank commercial lending rates, are all unusually high, …
The Canadian Press: Expect interest rate cuts, but is Bank of Canada running out of bullets?
