Time To Lend
With the recent announcement by the government to its changes in Mortgage Financing that will take effect on April 19. I thought I would highlight one of the changes in particular. What will the Posted rate be that will be used to qualify clients on April 19? This is still in discussions with the government so it is a great time to act now. For Example: Average family income of $80,000 Currently they can qualify at 3.75% New qualifying rate at April 19,2010 5.5% ( I am using a guess here ) Today they would qualify for approx a $422,000 mortgage On April 19...... They will only qualify for a mortgage of $339,000 . That means they are loosing out on 83,000 in purchasing Power. Get the most purchasing power by acting before April 19, 2010 OTTAWA – The Board of Directors of the Bank of Canada today announced that Tiff Macklem has been appointed Senior Deputy Governor for a term of seven years beginning 1 July, 2010. His selection was made by the independent members of the Bank’s Board and was approved by the federal Cabinet. Read more TD - Weekly Bottom Line 02/20/2010
United States - Swifter, Higher, Stronger Canada - A Battle of Prices U.S. - Upcoming Key Economic Releases Click here to read Watch CBC Marketplace - " In Denial " - This segment from CBC Marketplace on February 6, 2008 provides you with concise information about bank mortgage insurance and the reasons for consumers to purchase their insurance through a licensed broker. Click here to watch Federal Finance Minister Jim Flaherty announced three new rule changes connected to government-backed insured mortgages Commencing April 19, 2010. Increase in qualifying rate regardless of rate/term. Decrease in Equity take out from 95% to 90% LTV. Minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner occupied properties purchased "for speculation." Government press release click here TD - The Weekly Bottom Line 02/05/2010
The Week In Review: Unites States - Jobs: Come out, Come out wherever you are. Canada - External Shocks continue to hit Canadian Financial Markets Canadian and U.S.: Upcoming Key Economic Releases Click Here To Read The Full Report The Coming Thaw 02/04/2010
Mark Carney speaks to members of the Winnipeg Chamber of Commerce. "Canada has suffered less than most other advanced economies." Read entire speach TD Weekly Bottom Line 01/30/2010
The week in review CANADA – Q4 ON TRACK FOR STRONG REBOUND CANADA: UPCOMING KEY ECONOMIC RELEASES UNITED STATES – 2010 STATE OF THE UNION AND STATE OF THE ECONOMY U.S.: UPCOMING KEY ECONOMIC RELEASES Read more "In the past, the first or only place a person would go when looking for a mortgage was to their local bank, however more and more Canadians are now seeking out the services of Mortgage Brokers to help them navigate the biggest purchase of their lives," said study author Rob Daniel, managing director, Maritz Research Canada, to the Financial Post. Click here to read more TD Weekly Bottom Line 01/18/2010
In Canada, Housing developments moved to centre stage again, with evidence that new homebuilding activity continued to gear up and resale activity stayed strong in December. Full Report |  ArchivesMarch 2010 Categories |
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