Stocks in Canadian mortgage lender Home Capital recovered some of their lost value Thursday following a 64 per cent slump on the Toronto Stock Exchange in the previous session
Ratings agency Fitch says that the latest BoC interest rate cut underlines its view that the Canadian housing market is over-valued by around 20 per cent.
The chief executive of mortgage company Home Capital has spoken out against the stock market short-sellers who believe his company is at risk from sub-prime lending.
New immigrants to Canada are more positive about the economy here than they are about their own country’s finances.
It could get tougher for homebuyers to get a mortgage if the federal government opts to curb the housing market.
He’s used to passing on a deal offered in the Shark Tank, America’s version of Dragon’s Den, but Kevin O’Leary would also have said “I’m out” to Stephen Poloz’s interest rate cut.
Investment in non-residential construction fell 0.8 per cent in the second quarter of 2015 to $12.8 billion, the second consecutive quarterly decline.
Following yesterday’s decision by the Bank of Canada to cut interest rates to 0.5 per cent some major mortgage lenders have reduced their rates but as predicted they have stopped short of the full 25 basis points.
Reacting the Bank of Canada’s cut in interest rates many economists are predicting they will have to stay low for some time.
Some commentators are nervous of how the interest rate cut will impact the housing market in the months ahead.
CIBC analyst, poll suggests little impact of any rate cut… Confidence index continues to slide… US mortgage banking revenue dips for Wells Fargo… Scotiabank expands global footprint…