Surprise: Low interest rates seen sticking around – The Globe and Mail
Filed Under Main Content · Tagged: Borrowers, Current, Globe And Mail, Globe Mail, Low Interest Rates, Observers, Predicting The Future, Rate Environment, Surprise
While predicting the future for rates is notoriously difficult, some observers believe that the current low-rate environment may continue for a while. If so, it will mean pain for savers, but good news for borrowers.
Surprise: Low interest rates seen sticking around – The Globe and Mail
Canadian mortgages top $1 trillion
Filed Under Main Content · Tagged: Annual Report, Canadian Mortgage, Canadian Mortgages, Canadians, Extra Cash, Home Purchases, Low Interest Rates, Mortgage Debt, Mortgage Holders, Mortgage Professionals, Rates Mortgage, Trillion
The Star- A new report says Canadian mortgage debt has spiked to over $1 trillion, largely as a result of high home prices and low interest rates.
The Canadian Association of Mortgage Professionals says in its annual report that the value of outstanding mortgages is now 7.6 per cent higher than it was last year.
The report says higher prices have forced many Canadians to borrow heavily to finance home purchases.
Meanwhile, low interest rates have spurred others to borrow against their homes. The report found 18 per cent of mortgage holders have taken equity out of their homes to free up extra cash…
Canadian mortgages top $1 trillion – Moneyville.ca
With low interest rates, is it time to reconsider your mortgage?
Filed Under Main Content · Tagged: Amp, Borrowers, Cloverdale, Fixed Mortgage, Fixed Rate Mortgage, Home Statistics, Invis, Low Interest Rates, Mortgage Consultant, Mortgage Interest, Mortgage Rate, Mortgage Rates, Senior Mortgage, Vancouver Sun, Variable Mortgage, Variable Rate
Vancouver Sun- With mortgage rates low and more likely to go up than down, some borrowers may want to think long and hard about whether they want a long and hard — fixed, that is — mortgage rate.
The first question is whether to go fixed or variable when borrowing to buy a home. Statistics show that 88 per cent of the time, a variable mortgage is cheaper than a fixed-rate mortgage, said Feisal Panjwani, senior mortgage consultant with Invis-Feisal & Associates Mortgage Consulting in Cloverdale. But the problem with a variable rate is that it is just that: It changes over the life of the mortgage…
With low interest rates, is it time to reconsider your mortgage?
Household worth rebounds after recession
Filed Under Main Content · Tagged: Asset Prices, Assets, Borrowings, Canadians, Decline, Economic Downturn, Economics Research, Economist, Household Debt, Jeffries, Liabilities, Low Interest Rates, Net Worth, Rbc, Rebounds, Recession, Residential Real Estate, Rising Stocks, Statistics Canada, Trillion
Times Colonist- Rising stocks and home prices have helped restore almost all of the value Canadians lost in household net worth during the economic downturn.
Household net worth rose 1.3%, or by $74-billion, to $6-trillion, as the growth in the value of assets, particularly equities and residential real estate, exceeded the increase in liabilities, Statistics Canada reported Monday.
“This marks the fourth consecutive quarterly improvement in household net worth and reflects a 96 per cent recovery off the net worth lost during the recent economic downturn,” David Onyett-Jeffries, economist at RBC Economics Research, wrote in an analysis.
“The increase of household net worth continues to repair the cumulative $552-billion decline.”
Household debt has also risen as low interest rates have encouraged Canadians to increase borrowings, but that has led to strengthening in demand and asset prices, particularly housing, said Mr. Onyett-Jeffries…
