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Interest Rates

  • Canada Finance Minister Won’t Interfere With Banks on Rates

    low rates-sm

    (Bloomberg) -- Canadian Finance Minister Joe Oliver said he won’t pressure the nation’s banks to follow the Bank of Canada’s latest interest-rate cut, or take steps to influence the housing market.

    “I do not intend to interfere with the day-to-day operations of the banks,” Oliver said in an e-mailed statement Thursday. “I have no current plans to introduce new rules regarding residential mortgages.”

  • CIBC Expects Another Rate Cut in March

    low rateA forecast from CIBC World Markets predicts that the bank of Canada will make a further 0.25 per cent cut to interest rates in March despite the current weakness of the Canadian dollar. Chief economist Avery Shenfield says that growth will be lower than 2 per cent this year and sees the loonie falling to 77 cents US and not recovering too much above 80 cents US.

  • Mortgage Basics

     abcWhat is a mortgage, and who owns my home if I have secured financing to purchase it?

    Whether you’re new to the home buying process, or a seasoned investor, I bet you didn’t realize that there are at least 20 top mortgage related terms that you may want to understand prior to speaking with a real estate agent or loan officer.

  • Why Working With A Mortgage Broker Is Your Best Option

     imagesCA4U3MDZWhether it’s your first time or your fifth time, shopping for a mortgage can often be confusing and even frustrating. Besides, who really has the time to research and compare mortgage lenders to ensure the best deal? Then there are all those crazy terms and acronyms — beacon scores, LTVs, IRDs and porting – it can make your head spin! Isn’t there an easier way?

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