By Garry Marr, Financial Post It’s hard to imagine, but there was a time when the mortgage on your home was something a buyer wanted to take off your hands. But who can remember the 1980s and double-digit inflation, when a single-digit mortgage rate was gold? I was just a teenager then and the mortgage [...]
By Sunny Freeman, The Canadian Press TORONTO – Home sales may be slowing, but prices in six of Canada’s largest housing markets are in bubble territory for the first time in 30 years — and a U.S.-style correction is still not out of the question, according to a report from an Ottawa-based think tank. The [...]
The Bank of Canada left the overnight rate at 0.25% Tuesday morning and opened the door to rate increase at the June meeting by removing its conditional commitment to keep the policy rate at its current level, “until the end of the second quarter of 2010.” The Bank stated that with, “recent improvements in the [...]
Looks like the end of the low home borrowing costs! By Sunny Freeman, The Canadian Press TORONTO – Rising mortgage rates announced Monday signal the end of historically low home borrowing costs and present Canadian consumers with a dilemma: either stay flexible, hope for the best and ride out the next several months or lock [...]
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