• +1
5 Yr fixed rates as low as 3.39%

October 25th, 2010

 After speaking to a few mortgage brokers in Calgary, I have found out some lenders are offering 5 yr fixed rates at 3.39% for a quick 30 day close. If you are in the market for a new home, I would suggest speaking with a mortgage specialist for a pre-approval. This is an amazing rate for buyers who are serious about purchasing and can close quickly.

 

Low rates bail out housing

October 18th, 2010

Rock-bottom long-term mortgage rates appear to have handed the housing sector the lifeline it desperately needs, helping to push up sales for a second consecutive month and keep prices from falling.

The Canadian Real Estate Association said Friday sales last month rose 3% from August on a seasonally adjusted annualized basis — highest since May 2010 — and the second straight month sales rose ...

An RRSP can HELP

October 18th, 2010

Today, about 50% of first-time homebuyers use their RRSP savings to help finance a down payment.

With the federal government’s Home Buyers’ Plan, you can use up to $25,000 in RRSP savings ($50,000 for a couple) to help pay for your down payment on your first home.

You then have 15 years to repay your RRSP.

To qualify, the RRSP funds you’re using must be on deposit for at least 90 days. Y ...

RBC report says BoC likely to hold rates until March 2011

October 6th, 2010
RBC report says BoC likely to hold rates until March 2011

This month's RBC Financial Markets Monthly publication reports that the Bank of Canada is likely to hold rates until March 2010.

Report Excerpts:

Canada takes a breather after sprinting out of recession

With real GDP standing a hair’s breadth away from its pre-recession peak and final domestic demand already treading into new terri ...

Can a US-Style Housing Bust Happen In Canada? Jim MacGee Says NO

October 4th, 2010
Can a US-Style Housing Bust Happen In Canada? Jim MacGee Says NO
 

With the recent news of the housing market bubble projected to burst here in Canada, the C.D. Howe Institute has produced a report that denounces the thought of a housing bubble here at home.

A comparison of housing market policies in Canada versus the US, however, suggests that there is little l ...