Many don’t know if they could make higher mortgage payments: poll
Filed Under Main Content · Tagged: Bank Of Canada, Bank Of Montreal, Benchmark Rate, Bmo, Canadians, Interest Rates, Mortgage Interest, Mortgage Payments, Mortgage Rates, Poll
Nearly 20 per cent of Canadians don’t know if they’ll be able to make their mortgage payments if interest rates increase, according to a poll released Thursday by Bank of Montreal – disturbing findings given that BMO expects the Bank of Canada to raise its benchmark rate by at least one per cent by the end of the year.
Many don’t know if they could make higher mortgage payments: poll
The ideal crime? -Mortgage fraud is easy, common and lucrative. And in Canada, more often than not, it is left unchecked
Filed Under Main Content · Tagged: Bank Montreal, Bank Of Montreal, Canada, Fraud Scheme, Ideal, Internal Investigation, Irregularities, Lawyers, Mortgage Brokers, Mortgage Fraud, Mortgages
Macleans- Several years ago, the Bank of Montreal first noticed what it described as “irregularities” in some mortgages sold in Alberta. After conducting an internal investigation, it quietly launched a lawsuit last year that alleged a massive mortgage fraud scheme involving hundreds of people, ranging from lawyers to mortgage brokers and four of the bank’s own employees…
The ideal crime? – Business – Macleans.ca
No increase in mortgage costs seen for Sept.
Filed Under Main Content · Tagged: Bank Of Canada, Bank Of Canada Governor, Bank Of Montreal, Barrage, Canadian Economy, Economists, Fixed Rate Loans, Gross Domestic Product, Interest Rate, Likelihood, Mark Carney, Mortgage Costs, Mortgage Experts, Mortgage Rate Comparison, Online Mortgage, Product Numbers, Rate Mortgages, Second Quarter, Slowdown, Toronto Sun
Toronto Sun- Homeowners aren’t likely to face higher mortgage costs for at least the next month and some banks may even follow the Bank of Montreal in cutting new fixed-rate loans to compete for a dwindling number of buyers, specialists said.
According to a panel of mortgage experts polled by online mortgage rate comparison site RateSupermarket.ca, both fixed-rate and floating rate mortgages will remain unchanged for the next 30 to 45 days.
The sharper-than-expected slowdown in the Canadian economy, which grew at 2% in the second quarter, coupled with a barrage of negative data from the U.S., has increased the likelihood that Bank of Canada governor Mark Carney will pause in his interest rate tightening cycle in September.
Before Tuesday’s gross domestic product numbers, most economists had expected one more increase before rates went on hold…
No increase in mortgage costs seen for Sept. | Money | Toronto Sun
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
