RateSupermarket.ca Educating Homebuyers on Coming HST Storm
Personal Finance / Personal Finance News / RSM News / Taxes

RateSupermarket.ca Educating Homebuyers on Coming HST Storm

Survey Shows 56% of Respondents Unaware of How HST Will Affect Home Owners/Purchases TORONTO, June 17, 2010 … RateSupermarket.ca, Canadian consumers’ one-stop-site to quickly and easily compare over 500 mortgage rates from the country’s top providers, has embarked on an educational campaign to expose additional fees that homebuyers will experience when the HST comes into … Continue reading »

CIBC Buys Citigroup’s Canadian Credit Card Business for $2.1B
Credit Card News / Credit Cards / Personal Finance / Personal Finance News

CIBC Buys Citigroup’s Canadian Credit Card Business for $2.1B

Things are heating up in the credit cards industry as CIBC announced that they’ve bought Citigroup’s Canadian credit card business for $2.1B. This deal will make CIBC the largest dual credit card provider (Visa and Mastercard) in the country and increases their outstanding credit card balance to over $14B. It includes Citi’s co-branded cards such … Continue reading »

Canadian Mortgage Brokers Told to Increase Privacy Security
Mortgage News / Mortgages

Canadian Mortgage Brokers Told to Increase Privacy Security

The privacy commissioner has moved her focus from Facebook’s privacy policy issues to Canadian mortgage brokers, as she said yesterday that mortgage brokers still have a ways to go to ensure the privacy of their clients are protected. Jennifer Stoddart said that the privacy office investigated the case where hundreds of credit reports were stolen … Continue reading »

European Crisis Wreaks Havoc on Canadian Mortgage Rate Outlook
Economic News / Mortgage News / Mortgage Rate Outlook Panel / Mortgages

European Crisis Wreaks Havoc on Canadian Mortgage Rate Outlook

RateSupermarket.ca’s panel of financial experts are torn on the direction of fixed mortgage rates but believe that variable rates will continue to rise TORONTO, June 7, 2010… RateSupermarket.ca, the go-to website for a complete comparison of mortgage rates in Canada, has announced the results of their Mortgage Rate Outlook Panel for June 2010. Uncertainty is … Continue reading »

Bank of Canada Increases Interest Rates by 0.25%
Economic News / Mortgage News / Mortgages

Bank of Canada Increases Interest Rates by 0.25%

The Bank of Canada (BoC) made their much anticipated interest rate announcement this morning June 1, 2010 and the verdict was an increase in the target for the overnight rate by 0.25% to 0.50%. This is the first interest rate increase by the Canadian Central Bank since 2007. Opinion has been divided over the past … Continue reading »

Five Year Fixed Mortgage Rate Trends
Mortgage News / Mortgage Rate Outlook Panel / Mortgages

Five Year Fixed Mortgage Rate Trends

It’s been an intriguing time in the mortgage market over the past few months and it really all kicked off in December 2009 when Finance Minister Jim Flaherty announced the latest mortgage regulation changes. Since then we’ve had mortgage rates jumping all over the place as bond yields, which influence fixed mortgage rates, rose rapidly … Continue reading »

Canadian Housing Market Cooling Down
Buying A Home / Economic News / Mortgage News / Mortgages

Canadian Housing Market Cooling Down

CREA‘s April 2010 housing market report indicates that Canada’s overheated housing market has started to show signs its cooling down. Residential housing sales via MLS was over 52K across the country in April 2010 which was up 20% over last April 2009. Seasonally adjusted home sales was down 2.6% from March 2010. With talk of … Continue reading »

Canadian Housing Starts Increase in April
Economic News / Mortgage News / Mortgages

Canadian Housing Starts Increase in April

CMHC’s latest report on Canadian housing starts was released this morning and showed that the seasonally adjusted annual rate of housing starts in April 2010 was up 2,500 units or 1.3% over March 2010 to 201,700 units. This is the latest evidence that Canada’s housing market is still doing exceptionally well and driving Canada’s economic … Continue reading »