CREA urges caution over more mortgage rule changes – The Globe and Mail
Filed Under Main Content · Tagged: Caution, Globe And Mail, Globe Mail, Interest Rates Down, Moderation, Mortgage, Rule Changes
“This is not arithmetically predictable, precisely,” Mr. Flaherty said when he made the changes. “We expect some moderation in the market. We’re taking these steps in any event now because of our concern about higher interest rates down the road.”
CREA urges caution over more mortgage rule changes – The Globe and Mail
Bank of Canada bumps up rate
Filed Under Main Content · Tagged: Bank Canada, Bank Of Canada, Basis Points, Belief, Budget, Calgary Canada, Calgary Herald, Canada Banks, Caution, Commercial Banks, Economy, Global Recovery, Governments, Growth Outlook, Households, Interest Rate Decision, Pace, Prime Lending Rates, Rate Hike, Temper
Calgary Herald- The Bank of Canada raised its benchmark policy rate by 25 basis points to 0.75 per cent, even though it scaled back its growth outlook on the belief budget cutting among households and governments in advanced economies will "temper" the pace of the global recovery.
Many of Canada’s commercial banks followed suit by raising their prime lending rates.
The central bank acknowledged the economy is weaker than initially believed — but not feeble enough to call off yet another rate hike and likely more in the future.
Certainly, the interest-rate decision delivered yesterday teemed with caution. The central bank’s statement accompanying its decision highlighted how a "greater emphasis" on budget cutting among governments and households would slow the pace of the global recovery…
Mortgage shoppers opt for caution
Filed Under Main Content · Tagged: Accredited Mortgage, Canadians, Caution, Delinquencies, Fixed Rate Mortgages, Housing Industry, Little Chance, Loans, Mortgage Choices, Mortgage Professionals, Mortgage Shoppers, Ottawa, Years Mortgage
Times Colonist- The housing industry fired back yesterday at comments from Ottawa that the sector might be overheated with a new report that shows Canadians have become conservative in their mortgage choices, leaving little chance for delinquencies.
The Canadian Association of Accredited Mortgage Professionals surveyed its members, who issued more than 40,000 mortgages totaling $10-billion during 2009, and found 86% of loans went into fixed-rate mortgages. Of those, more than 70% had fixed rates for longer than five years…
