‘Dramatic shift’ in rate-hike expectations
Filed Under Main Content · Tagged: Bank Of Canada, Belief That, Commodity Prices, Contract Credit, Dramatic Shift, Economic Recovery, European Continent, Friday Morning, Greece, Guessing Game, Loonie, Losses, Market Chaos, Percentage Gain, Rate Hike, Spillover, Statistics Canada, Steep Fall, Value Of The Canadian Dollar, Worries
The Gazette- The Greek crisis, together with market chaos, forced a "dramatic shift" in expectations of a Bank of Canada rate hike next month, a view reflected in a steep fall of the loonie Thursday on the belief that such increases might no longer be in the offing as panic spreads about Europe.
However, the guessing game on rates took another turn Friday morning after Statistics Canada reported a massive 108,700 job gain in April, the biggest percentage gain since 2002. The data blew past expectations and boosted the value of the Canadian dollar. Still, analysts indicate the jobs data is backward-looking, and does not take into account future developments on the European continent.
Worries that the spillover in Greece may contract credit growth in Europe and threaten the global economic recovery rattled investors on Thursday, with equity markets in North America sustaining deep losses and commodity prices falling…
‘Dramatic shift’ in rate-hike expectations
Loophole may help banks to lend to first-time buyers
Filed Under Main Content · Tagged: Bank Act, Banks, Borrowing Money, Consumers, Default Insurance, Federal Government, Federal Mortgage, Financial Institution, First Time Buyers, Fixed Rate Mortgage, Insurance, Interest Rate, Loophole, Losses, Mortgage Default, Mortgage Insurance, Mortgages, Payment Defaults, Principal Residences, Year Fixed Rate Mortgage
Financial Post- There is a small loophole in the new federal mortgage rules that could make it easier for the banks to lend out money to first-time buyers.
The federal government announced last month new requirements for anyone borrowing money for a house and needing mortgage insurance. If you have less than a 20% down payment and are borrowing from a financial institution covered by the Bank Act, you have to take out mortgage default insurance, which ensures the banks are covered for any losses resulting from payment defaults.
For principal residences, the new rules force consumers to qualify for a loan based on being able to make payments on a five-year fixed-rate mortgage, which has a much higher interest rate than variable mortgages, now as low 1.85%…
Loophole may help banks to lend to first-time buyers
BC home prices could hit new highs in 2010
Filed Under Main Content · Tagged: 2010 Vancouver, Bc Housing, Downturn, Housing Sales, Losses, New Highs, Rebound, Recession, Vancouver Sun
Vancouver Sun- The rebound in BC housing sales from the recession is the strongest on record, Central 1 Credit Union said Tuesday, predicting that property prices will regain all of their downturn losses by the end of this year…
B.C. home prices could hit new highs in 2010
B.C. home prices could hit new highs in 2010
Filed Under Main Content · Tagged: Downturn, Housing Sales, Losses, New Highs, Rebound, Recession, Vancouver Sun
The Vancouver Sun- The rebound in B.C. housing sales from the recession is the strongest on record, Central 1 Credit Union said Tuesday, predicting that property prices will regain all of their downturn losses by the end of this year…
