Canada’s economic stance is one of caution, as risk of a recession looms globally and action pends on the U.S. fiscal cliff. As a result, there is no anticipated end to stimulus efforts on the home front, with mortgage rates remaining unchanged for the coming month.
Finance Minister Jim Flaherty stated plans this week for the eventual privatization of the CMHC. Would would this mean for the mortgage market and borrowers?
How will StatCan’s revised debt to income ratio numbers affect Canada’s mortgage market? Are borrowers increasingly vulnerable to rate hikes?
The latest consensus from RateSupermarket.ca’s Mortgage Rate Outlook Panel has been released for September 2012. Looks like both Fixed and Variable mortgage rates are to remain unchanged this month amidst global economic uncertainty and a consistent Bank of Canada interest rate.
This week’s Friday Mortgage Roundup explores the impact of Scotiabank’s ING DIRECT acquisition and breaks down recent CAAMP updates.