CanadaMortgageNews.caJan 15, 2012 – SG  EXTRA, EXTRA, READ ALL ABOUT IT…. 5 years fixed No-Frills mortgage for 2.99% by BMO….wow, can you believe it?    Well, don’t get too excited…  At CanadaMortgageNews.ca we  give you the straight talk…  and guess what, No-Frills mortgages aren’t anything new… I’m giving a BIG THUMBS DOWNS to this product… and you […]

ROMA LUCIW Globe and Mail Update Canadians looking for sources of cash in their retirement are tapping into reverse home mortgages in record numbers, according to data released this week. The parent company of HomEquity Bank, the country’s sole provider of reverse mortgages, said that in the fourth quarter of 2011 it closed a record […]

By Jane Hodges Billy Lacher couldn’t have purchased his split-level home in October without a little help from an increasingly popular financial institution: The Bank of Mom and Dad. The 31-year-old New York City firefighter and his wife put a 10% downpayment on the US$285,000 three-bedroom home, but his parents provided an additional US$20,000 (half […]

John Shmuel Canadian businesses are setting a cautious tone for 2012 as a precarious U.S. recovery and debt woes in Europe continue to weigh on the country’s business climate. That was the picture painted by the Bank of Canada’s latest business outlook survey, which showed that while hiring intentions and equipment investment remain on track, […]

ROMA LUCIW Globe and Mail Update You buy a duplex, get a mortgage, find tenants and collect monthly rent cheques. What could be easier? With stock and bond markets spinning their wheels, many Canadians are looking for alternative places to park their money. And while buying an investment property might seem like a good way […]

By Julian BeltrameThe Canadian Press OTTAWA – Canada’s economy began creating jobs again in December after two consecutive months of declines, but it was not enough to keep the unemployment rate from edging up a notch to 7.5 per cent. Statistics Canada said the unemployment rate rose one-tenth of a point despite the jobs increase because […]

Financial Post Staff OTTAWA — Canada’s resale housing market tightened slightly in November, as sales rose in more than 50% of markets while the number of listings declined, the Conference Board of Canada said Tuesday. Sales rose in 16 of the 28 markets the board tracks for its metro resale index, with seven of those […]

JULIAN BELTRAMEOTTAWA— The Canadian Press Demographic changes from aging to immigration flows are helping shape Canada’s housing market of the future, the federal housing agency suggests in its annual report. The Canadian Mortgage and Housing Corp.’s study of housing trends sees continued demand for condominium and smaller homes, institutional buildings such as old age facilities, as […]

By Jon Cook TORONTO (Reuters) – Weaker Canadian economic growth and an oversupply of condos will lead to a 5 percent drop in home prices in the first half of next year, a report released on Monday by Bank of America Merrill Lynch said. Canadian housing prices are overvalued by as much as 10 percent, […]

Garry Marr – Dec 17, 2011Financial Post The days of getting any sort of discount on a variable rate mortgage are over — again. Those mortgages, tied to prime, have become a mainstay of the housing market. And, why not? While prime has stood at 3% at most major financial institutions, the discount has meant […]