by Majid Habibi | Jul 11, 2018 | Announcements, Blog, Mortgage
The Bank of Canada today increased its target for the overnight rate to 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent. The Bank expects the global economy to grow by about 3 ¾ per cent in 2018 and 3 ½ per cent in...
by Majid Habibi | Oct 17, 2017 | Announcements, Blog, Economy, Finance, Mortgage
If you’ve tuned into the news today, you’ve probably heard that there are new mortgage rules coming into effect on January 1st. 2018. Over the next week you’ll most likely hear a lot of commentary on whether these rules are good, bad, necessary, or...
by Majid Habibi | Jan 17, 2017 | Announcements, Blog, CMHC, Homeownership
The Canadian Mortgage and Housing Corporation announced this morning that they will be increasing mortgage insurance premiums on March 17th 2017. They were quick to outline that the changes would only amount to roughly a $5 increase per month for borrowers. Which was...
by Majid Habibi | Nov 15, 2016 | Announcements, Blog, Economy, Homeownership, Mortgage
Well, after many years of unprecedented low interest rates in Canada, it appears the Canadian government by way of rule changes, and the American government by way of Trump, are impacting mortgage rates. Simply put, the Canadian government has recently made it more...
by Majid Habibi | Oct 3, 2016 | Announcements, Blog, Economy, Homeownership
This morning, Finance Minister Bill Morneau announced new housing measures, changes meant to alleviate risk in Canada’s current housing market. The measures include: Standardizing lending criteria for high- and low-ratio mortgages, including a mortgage stress...
by Majid Habibi | Jul 26, 2016 | Announcements, Blog, Homeownership
Although no firm changes have been announced regarding mortgage regulations, it looks like this might be the beginning of something. The following is correspondence shared by Mortgage Professionals Canada by email to the mortgage industry, it has been shared here for...
