The channel lender is set to secure a $2 billion line of credit to secure against mortgages
It’s all ado about nothing, according to brokers who don’t believe the big bank’s rate cuts warrant all the media coverage they’re getting, after two big banks make record rate moves.
You’ve heard of brokers buying down rate but how about developers? One is offering a promotion that will allow clients to pay as little as $1 per day to live in its upcoming condo development.
The average sale price for a house in Toronto in the first two weeks of March was $620,106, a rise of 10.6 per cent compared to the same period in 2014.
Ottawa has no plans to take any “immediate action” on the housing market according to Stephen Harper.
Canadian consumers increased their average debt to $21,428 excluding mortgages last year according to credit agency TransUnion.
A recent report by TD Bank that house prices in the Newfoundland and Labrador would fall by up to 10 per cent has been challenged by a local CHMC analyst.
The OECD has downgraded its forecast for the Canadian economy citing weak oil and commodities sectors as a major factor.
A leading financial advisor is projecting a 40-50 per cent housing price correction and is laying the blame on the CMHC.
When it comes to their best rate, big banks can play coy. And one broker has developed a strategy to force banks to reveal their dishonesty to potential clients.
Brokers across the country acknowledge the growing number of online rate shoppers, but finally a study has been conducted to give a glimpse into just how prevalent they are.