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Financing

One Killer Strategy To Make The Mortgage Changes Work To Your Advantage

January 20, 2011 Financing
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I’m sure you’ve all heard about the Federal Government’s January 17th change to CMHC mortgage rules by now (and I missed blogging about it, shame on me). They take effect on March 18th, and there’s one great strategy I’ll share to get some killer deals if you’re out shopping for more real estate right now. [...]

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Bank of Canada Holds Steady

December 8, 2010 Financing
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Surprising no one, the Bank of Canada chose not to raise interest rates yesterday, maintaining the benchmark overnight rate at 1%, which makes the banks’ prime rate 3%. From the BoC press release: The recovery in Canada is proceeding at a moderate pace, although economic activity in the second half of 2010 appears slightly weaker [...]

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BofC Overnight Target Up 0.25%

September 9, 2010 Financing

As many expected, the Bank of Canada raised rates 0.25%, making the overnight rate 1%. Most banks followed suit, making the prime rate 3%. Here’s the high points from the press release (via Canadian Mortgage Trends) “…Consumption growth is expected to remain solid and business investment to rise strongly.” “The Bank now expects the economic [...]

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Don Campbell on Fixed vs. Variable Mortgage Rates

June 8, 2010 Financing

There’s been some great material at the last few REIN meetings about mortgages, particularly timely given the Bank of Canada’s decision to raise prime. Don Campbell was on BNN, CBC, Alberta Primetime and a couple others talking about the best way to approach the coming rate hikes. Watch the video or scroll under to get [...]

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You Don’t Buy a Happy Meal for the Toy

March 4, 2010 Financing
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I had an awesome question via Twitter from Ben Arledge, a REIN member and web developer. Thoughts on life/disability insurance on rental property? To which I replied: Not worth it, better do deal with a real insurance broker and get the right insurance. You don’t buy a happy meal for the toy. His next question [...]

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Mortgage News from Peter Kinch – March 3rd

March 3, 2010 Financing

Peter Kinch’s email newsletter just hit my inbox this afternoon and it’s got some great info I thought I’d share. (Peter’s a great mortgage broker and I’ve used his office in the past.) Here’s what he had to say: It’s rare to see a big bank undercut its mortgage competitors publicly. Most of the time [...]

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Peter Kinch on New CMHC Mortgage Rules

February 18, 2010 Financing

For those of you who caught yesterday’s changes to CMHC’s lending rules, here is Peter Kinch (Canada’s #1 Mortgage broker) weighing in on the topic. I agree with him, the changes are good window dressing, but will have very little impact on the market.

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