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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There’s a great Real Estate Investment Network (REIN) event in Edmonton coming up soon, June 26-28th.

Friday night starts with an economic summit with key speakers, some top Canadian economists and veteran analysts. You can download the PDF brochure here, or click here to register.

The panel for the summit will include:

• Carl Gomez, Vice President, Research, Bentall Capital
• Todd Hirsh, Senior Economist, ATB Financial
• Ron Gilbertson, President and CEO, Edmonton Economic Development Corporation
• Mary MacGregor, Chief Economist, Government of Alberta
• Peter Kinch
• Don R. Campbell

Saturday is the Advanced Landlording and Investing Fundamentals Expo and Brent is participating on the panel of property management experts.

The other panels and participants are:

Property Management Panel:

Keenen Tameling
Tyler Uzelman
Rebecca Bryan
Brent Davies
Carol Garrett

Overcoming Obstacles Panel:

Marnie & Ryan Griffiths
Dan Heon
Julie Hoffman
Garth Chapman
Philip McKernan
Troy Sirett
Tana Wheatcroft

Raising Money Panel

Thomas Beyer
Mark Garrett
Arlen Dahlin
Greg Habstritt
Russell Westcott

The cost for the Economic Summit is $199. The LIFE weekend is $787, but if you click here you can get $200 off ($587), and be able to bring additional guests for $387.

You can submit questions in the myREINspace thread for the panels, and see get  information and a lot of videos in this thread.

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Peter Kinch is a great mortgage broker, and I use one of his brokers. He’s also a frequent speaker on various radio and tv programs. Here’s a transcript from News 1130 last Friday (June 5th) between Peter Kinch and Russell Byth last Vancouver.

Russ:
The Bank of Canada is standing pat on rates keeping the Prime rate at 2.25%, but the banks have been increasing their long-term rates this week. On the line with me is the #1 Mortgage Broker in Canada, as ranked by Canadian Mortgage Professional magazine, Peter Kinch. Pete, congratulations first of all, that’s quite an honour.

Peter:
Thanks Russ, it’s certainly something I couldn’t have done without a strong team supporting me.

Russ:
Good stuff, now down to business… it can be confusing when we see rates going up one day and then hearing that there’s no change the next.

Peter:
Exactly Russ, and it comes right down to an issue that confuses a lot of consumers – there are two types of rates: Fixed and Variable. When you hear the Bank of Canada talk about not changing rates – they are referring to the Prime or Variable rate – and we don’t expect any movement there for at least a year.

Russ:
But the long term rates are not controlled by the Central Bank?

Peter:
No, they are governed by the bond yields and can be constantly fluctuating based on market conditions. Right now we have a rising Loonie, and fear of pending inflation causing the bond yields to rise – which in turn has caused a jump in the long-term rates. So it’s important not to make assumptions on your long-term rates, based on announcements by the Bank of Canada.

Russ:
Thanks Pete – We have to be sure not to confuse the two – In the Business Center, I’m Russell Byth.

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