Wednesday
February 22, 2012
1 Year Closed : 2.75 %
3 Year Closed : 2.79 %
5 Year Closed : 3.19 %
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News
Mortgage Fraud on the Rise - Tuesday, February 21, 2012
MONTREAL - Consumer credit company Equifax uncovered roughly $400-million worth of mortgage fraud in Canada last year, an "eyeopening" number industry experts estimate represents only a fraction of the cheating taking place in the country's real estate market.Atlanta-based Equifax says many financial institutio ...
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Survey results good news for mortgage industry - Friday, February 10, 2012
A recent study of a representative sample of Canadians conducted by TNS Canada for TMG The Mortgage Group found that 66% of homeowners currently have a mortgage on their principle residence. Of those, 22% are planning to renovate in the next 12 months using their home equity and will likely use the services of a mortgage broker.The survey als ...
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Are low fixed rates here to stay? - Friday, February 03, 2012
Fixed rates are at an all-time low and will likely stay low for some time to come. Some analysts predict that rates will remain stable through 2012 and perhaps well into 2013. Avery Shenfield, economist with CIBC wrote recently that current low fixed rates and the state of the bond market with low yields may become the norm. With the North Am ...
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Study Shows Renters Could Drive 12% Increase in Homeownership In Next Two Years - Tuesday, January 31, 2012
Renters' strength and quality differentiate Canadians from US: expertVancouver, BC - In a recent online study conducted by TNS Canada for TMG The Mortgage Group Canada, results showed just under one third of Canadian renters are planning to buy real estate within the next 2 yea ...
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Three new appointments at TMG - Friday, January 06, 2012
In keeping with TMG The Mortgage Group's philosophy of promoting from within, we are pleased to announce the promotions for the following regional leaders effective January 1, 2012:
Bud Jorgenson, Vice-President, Prairie Region; Gord Appel, Vice-President, Alberta Region;Gerald Krahn, Vice-President, Ontario Region.
Not only ...
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Home sales up 4.6 per cent year-over-year in November - Friday, December 16, 2011
TORONTO - Canada's housing sector is edging closer to a sellers' market as sales and prices jumped again in November, but the number of listings dropped off.Home resales rose six per cent last month on a year-over-year basis and jumped 0.5 per cent on a seasonally adjusted basis compared to October levels, the Canadian Real Estate Associati ...
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The Bank of Canada maintaining its overnight rate at 1 per cent - Tuesday, December 06, 2011
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. Uncertainty around the global economic outlook has increased in the weeks since the Bank released its October Monetary Policy Report (MPR). Conditions in global financial markets have deteriorated as the sovereign debt crisis in Europe has dee ...
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Mortgage break fees: The banks' gain is your pain - Wednesday, November 30, 2011
I took out a mortgage a couple of years ago. It was a five-year fixed mortgage at 3.50 per cent.As you may know from a previous column, I am concerned about where interest rates will be in three years when I need to renew my mortgage. I believe there is a real risk that interest rates will move up fairly quickly on ...
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Bank of Canada could slash interest rates - Thursday, November 10, 2011
As the nail biter in Europe continues this week, two economists are predicting the Bank of Canada will move to cut rates in a big way next year.Sheryl King, an economist at Bank of America Merril Lynch, said in a note that the volatility hitting Europe and the risk of damage to the global economy means the Bank of Canada will move to cut its benchm ...
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Stable housing market for 2012 - Tuesday, November 08, 2011
The housing market in 2012 will remain stable barring any major economic pressures. According to the most recent Housing Market Outlook released by Canada Mortgage and Housing Corporation (CMHC), the improving employment situation in certain parts of the country and low interest rates have supported new housing starts and have kept ...
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Mandatory Relicensing for Ontario Mortgage Professionals - Monday, October 17, 2011
The Financial Services Commission of Ontario (FSCO) has mandated that all mortgage brokers and agents, including agents employed by finance companies and principal brokers, are required to complete a relicensing course to renew their licenses in 2012. This has some interesting implications for those in the industry ...
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Global economic crisis may have a silver lining in Canada - Thursday, October 06, 2011
The ongoing financial woes in the US and in countries in Europe are one of the contributing factors to Canada's stable housing market and historically low interest rates, and these rates will continue right into mid-to late 2012.
The variable rate, which is based on the Bank of Canada's Prime rate is sitting at 3% and is likely to s ...
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OMAC and CMAC forms an alliance with TMG - Monday, September 26, 2011
OMAC (Ontario Mortgage Action Centre) in South-West Ontario and CMAC (Canadian Mortgage Action Centre) in Calgary have become an affiliate of the TMG network. With more than 20 locations and over 50 brokers and agents, TMG has now grown its presence in both Southwestern Ontario and Southern Alberta."It's a perfect fit," said Mark K ...
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Canadians realistic about household debt - Tuesday, September 20, 2011
In the past decade consumer confidence in Canada was much higher than what would be expected based on certain household fundamentals including Real Disposable Income Growth, Debt-to-Income Ratios and Consumer Capability Indices. It appears that pre-2008, consumers were confident th ...
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August 2011 Housing Starts - Friday, September 09, 2011
OTTAWA, September 9, 2011 - The seasonally adjusted annual rate1 of housing starts was 184,700 units in August, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 204,500 units in July 2011."Housing starts in August were in line with current demographic fundamentals and are consistent with CMHC's recent Housing M ...
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