Elena Roy
Bank of Canada increases overnight rate target to 1 ¾ per cent
The Bank of Canada today increased its target for the overnight rate to 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
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CMHC Changes Make it Easier For Self-Employed To Get Mortgages
CMHC is making policy changes to help self-employed Canadians obtain mortgages. The self-employed comprise about 15% of Canada’s population, says the crown
'China's Amazon' to start selling Canadian real estate
Chinese consumers can now buy Canadian homes online through a deal inked with Juwai.com, China’s largest real estate website selling international properties, and JD.com, which is China’s
In mortgages, what’s old is new again
In mortgages, what’s old is new again – the one week’s salary rule.
Rising house prices have pushed most Toronto real estate beyond the 25-per-cent-of-monthly-salary maxim.
Equifax Launches Income Verification System
Lenders across the country are trying to build their own versions of the evolutionary, if not revolutionary, Rocket Mortgage.
But there’s one problem. Unlike in the U.S. where
Bank of Canada increases overnight rate
The Bank of Canada today increased its target for the overnight rate to 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent.
OSFI is reinforcing a strong and prudent regulatory
OSFI is reinforcing a strong and prudent regulatory regime for residential mortgage underwriting
News Release
For Immediate Release
Genworth Canada’s Homeowner Assistance
Please see attached Genworth Canada’s Homeowner Assistance Flooding Relief for homeowners impacted by the recent floods in parts of our country.
Ontario slaps 15% tax
Ontario slaps 15% tax on foreign buyers, expands rent control in 16-point plan to cool housing
The Ontario government moved forward Thursday with initiatives to rein in the housing market in and around its largest city, announcing 16 new measures including a 15 per cent tax on foreign buyers and expanded rent control rules.
Fed rate hike coming soon
Federal Reserve officials expressed confidence they can raise interest rates gradually, while a hike “fairly soon” might be appropriate to avoid the risk of an overheated economy, minutes of Federal Open Market Committee’s latest meeting showed.
“Many participants expressed the view that it might be appropriate to raise the federal funds rate again fairly soon if incoming information on the labor market and inflation was in line with or stronger than their
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Not just TD?
One former banker claims high pressure sales tactics are prevalent at the majority of the big banks, following allegations of controversial sales practices by TD Bank.
A number of TD Bank tellers have claimed increasing pressure from the big bank to upsell financial products clients may not need, amid shrinking margins.
Getting a mortgage-at what cost
Policymakers in Ottawa may be concerned about smart underwriting practices by mortgage lenders, but some brokers are emphasizing that borrowers resist the temptation to bend the truth on their applications, especially since consumer credit company Equifax released a report revealing that mortgage fraud is on the rise.
CMHC Hiking Insurance Premiums
Homebuyers with less than 20% down are going to pay more.
CMHC is hiking mortgage insurance rates for the third time in three years. Premiums are jumping up to 0.65 percentage points on the highest LTV mortgages, effective March 17, 2017. Here’s the new premium table:
The Economic Update for Q4 2016
VERICO’s Economic Consultant Michael Campbell has just released the Economic Update for Q4 2016, a VERICO Exclusive.
Have you been wondering why lender rates are going up? Want to get a better insight into what the Trump victory really means for the markets?
Have you been wondering why lender rates are going up? Want to get a better insight into what the Trump victory really means for the markets?
Click to read the report
What's really driving Toronto's red-hot real estate market
As Ontario's premier rules out taxing foreign buyers, focus turns to domestic speculators
Ontario Premier Kathleen Wynne is signalling she won't follow British Columbia's lead and slap a tax on foreign buyers of residential real estate in the Toronto area.
Domestic investors now account for 25 per cent of the demand for residential real estate in the Toronto area, according to analyst Ben Myers. (Martin Trainor/CBC)
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Elena Roy Tel: (613) 697-7801 |
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