StatsCan addresses recession by Will Ashworth | 01 Sep 2015 Statistics Canada is reporting that GDP fell in the second quarter, confirming fears that the economy was in recession for the first half of 2015. StatsCan says the economy contracted at an annual pace of 0.5% in the second quarter of the year which is […]

Low mortgage rates to boost BC housing sales to 100,000 by Steve Randall | 19 Aug 2015 Sales through the MLS system in British Columbia are set to reach 100,000 units this year, for only the third time. The BC Real Estate Association says that demand for homes has not been so strong since 2007; […]

Market Commentary With the Bank of Canada’s latest rate cut now well established attention is turning to what happens next. Along with this month’s rate cut the Bank of Canada lowered its economic growth forecasts. It does not expect to see the economy return to full capacity until early 2017, indicating it is unlikely there […]

Brokers call for standardized penalties It may be an exercise in futility, but brokers are once again calling for consistency in the way banks calculate mortgage penalties. “We need regulation for penalties – every lender calculates them in a different way,” Paul Sidhu, president of Safe Mortgages told MortgageBrokerNews.ca. “I had one client that was hit […]

Borrowing is tougher for self-employed Homebuyers looking for a mortgage are finding conditions are getting tougher if they are self-employed, at a time when there is an increasing number of self-employed Canadians. Solid credit scores are multiple years in business are still not making it easy for business owners to buy their own home. Chad […]

Sorry Mr Oliver, we don’t believe you by Steve Randall | 23 Jul 2015   The majority of Canadians do not believe finance minister Joe Oliver’s assessment of the economy. Specifically they do not believe that the country has avoided recession. A new survey by Forum Research shows that 58 per cent of respondents say […]

Analysts predict lower rates for 2 years Reacting the Bank of Canada’s cut in interest rates many economists are predicting they will have to stay low for some time. While talk of cheaper mortgages may be in focus for homeowners and buyers the wider economic picture painted by the BoC is one of sluggish growth […]

Home sales set new record Home sales set a record for the month of June, standing 11 per cent above June 2014 and 14 per cent above the 10-year national average for the month, according to the latest figures from the Canadian Real Estate Association. But the trend is local, said the organization, pointing to […]

Canadians driven to huge mortgage rates   by Steve Randall | 10 Jul 2015 The Canadian dream of owning a home is driving some to agree to exorbitant mortgage rates from the world of shadow lending. A Reuters report says that while home prices have been increasing, mortgage lenders have become more conservative and regulators have […]

Greece Grabs Headlines But China Is Far More Important     While all the attention has been on Greece, the Chinese stock market has fallen nearly 30 percent in the past month as the economy slows and margin calls increase. Photo: AFP   China has more than 120 times the population of Greece and is […]