Canadians are taking out mortgages nearly eight per cent faster than they did a year ago, according to a report in the Globe and Mail, sparking concern that highly leveraged borrowers will be in over their heads when interest rates rise. "We know that cheap money in the past caused some problems. This is a time to be prudent," CIBC economist Benjamin Tal told the Globe, adding that household debt in Canada rose 3.
OTTAWA — Canada’s business leaders are turning bullish about the economy after a year of doom and gloom, a new survey suggests.
Back in September, we took a look at ING Direct's new broker rate hold technology. It’s essentially an instant way to lock in a rate by providing the client’s name, email, phone number, and mortgage amount.
Despite a difficult economic year, CAAMP's latest survey on the residential mortgage market in Canada points to reasons for being optimistic, among them a forecast that total outstanding mortgage credit will surpass the $1 trillion mark in 2010.
Posted fixed-rate mortgages at TD Bank, CIBC, Scotiabank, Bank of Montreal and Royal Bank have been cut this week, reflecting lower rates in the bond market.
Benjamin Tal kept an optimistic tone during his talk at the annual CAAMP conference, saying the recession is over, business bankruptcies are down, and key interest rates in Canada could remain low well into next year depending on when U.S.
On the heels of CAAMP's latest fall survey report on the residential mortgage market, there is concern that mortgage debt is rising and that Canadians are taking out longer-term mortgages.
Wealthy investors area again looking towards putting their money in real estate, a new survey showed today.
