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From the Globe and Mail – Variable or Fixed? Both options have merit
My colleague from Ontario, and someone whom I truly admire, Peter Majthenyi discussed long term versus short term rates with the Globe Investor. I have done my own research as to whether fixed or floating is the best option right now, and have written a chapter on it that you can preview soon by signing up for the F Your Mortgage privileged information list. It turns out the benefits of fixed vs. floating have little to do with rising rates, and more to do with (more…)
Popularity: 49% [?]
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From the Financial Times – Lessons for the American housing market
Written by a senior lecturer at Harvard Business School and author of Too Big to Save? How to Fix the US Financial System, this article is interesting in the way that it lays out a series of lessons to the American public, while at the same time making a reasonable argument as to why our Canadian housing market has survived. (more…)
Popularity: 54% [?]
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From Bloomberg.com – Canada May Keep Lending Rate at 0.25%, Repeat June Commitment
The good news.
The Bank of Canada will probably keep its benchmark interest rate at a record low tomorrow and repeat a pledge to leave it unchanged through June.
The target rate for overnight loans between commercial banks will remain at 0.25 percent, where it’s been since April, according to (more…)
Popularity: 51% [?]
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The Canadian Association of Accredited Mortgage Professionals released Revisiting the Canadian Mortgage Market – Risk is Small and Contained today.
While the report is a little bit more logical than the “rates are going up, everyone is F**KED” mentality of the media right now, I’m not to sure how it will be received. I think there will be a large majority pointing to the economist who wrote the report as having a vested interest in taking an everything is okay stance. On the other hand, a logical well thought out analysis like this is needed to calm the mortgage holding community. If he is right, and employment rises higher, we probably have little to worry about even if rates do rise. On the other hand, if we have a double dip recession, we could be in for a lot of trouble.
What do you think, is this report a little bit to conservative?
Popularity: 33% [?]
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It was a little over two years ago that I was asked by a real estate investment company to help them secure mortgages for their clients. It was also a little over two years ago that I told them under no uncertain circumstances would I help their clients secure mortgages.
The company’s offering was very impressive, at first. I literally watched one Monday evening as more than 20 people handed over in excess of $3,900 each (more…)
Popularity: 56% [?]
