Sluggish domestic growth and uncertainty about the global economy will likely keep the Bank of Canada from raising rates until the second quarter of 2013, according to a Reuters survey. The Reuters poll of 42 economists and strategists released on Wednesday showed the median forecast for the next interest rate hike was pushed back by [...]
Determining your eligibility for refinancing is similar to the approval process that you went through with your first mortgage. Your lender will consider your income and assets, credit score, other debts, the current value of the property, and the amount you want to borrow. If your credit score has improved, you may be able to [...]
Canada’s real estate market is now expected to grow this year rather than decline, as buyers take advantage of continued low interest rates that are intended to offset recent economic turmoil, economists said Tuesday. The comments came after the Canadian Real Estate Association revised its 2011 national forecast for home resales, citing stronger than expected [...]
Several of Canada’s big banks are raising most of their fixed-term mortgage rates ahead of the busy spring real estate market. TD Canada Trust (TSX:TD) TD said the biggest increases will be for mortgages with terms of five to 10 years, which will all go up by 0.35 percentage points starting Tuesday. The move was [...]
Three more Canadian lenders say they will lower some of their fixed rate mortgages as nervous investors move to bonds, causing a drop in long-term interest rates. TD Bank (TSX:TD), National Bank (TSX:NA) and Desjardins Group said Wednesday that their fixed five-year closed rates will drop 0.1 of a point to 5.34 per cent, effective [...]
