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As part of their ongoing mission to provide Canadian consumers with a 360 Degree view of all of their financial options, Canada’s largest impartial rate comparison site, RateSupermarket.ca, has added a slate of bank account and investment comparisons to complement its existing mortgage, credit card, and insurance services.
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Over the last week the Real Estate Board of Greater Vancouver (REBGV) and Toronto Real Estate Board released their monthly real estate market reports. Here is a summary of their findings.
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Increased uncertainty in Europe and the wider global economy will cause Canada to sit back and wait before making any major changes to interest rates that could potentially derail its economic growth. While this waiting game plays out, RateSupermarket.ca’s panel of mortgage experts expect both fixed and variable mortgage rates to remain unchanged in the short term.
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Back in March of this year, OSFI (Office of the Superintendent of Financial Institutions Canada) released their draft recommendations to banks and other federally regulated lenders to tighten underwriting practices. The OSFI was calling on banks to submit their feedback to the suggested changes with the deadline being this past Tuesday, May 1st.
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A whopping 60.5% of British Columbians are not comfortable with their current level of debt, in line with the rest of Canada. This according to an independent survey from RateSupermarket.ca, Canada’s largest impartial rate comparison service. Among the 532 respondents from BC, the leading cause of debt concern by far (36.7%) is credit card debt.
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Want to know what the outlook is on mortgage rates for the next 30 to 40 days? Our panel of mortgage experts share their views on Canadian Mortgage Rate Trends.
Panel Consensus
May 2012
