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July 2012 - Posts

Mortgage Rate. Qualifying Rate.
Mortgages with variable rates or fixed terms under five years typically require that you qualify at a higher rate (called the “qualifying rate.”). For example, if you apply for a 2.25%, 5-year variable mortgage, the lender might make you qualify Read More...
Did you know that the overnight target rate has now been static for a record 678 days?
Once again, Mark Carney and committee have left Canada’s core interest rate unchanged. Our economy still isn’t firing on all cylinders, says the Bank of Canada. This suggests that mortgage holders can likely expect the 3.00% prime rate to Read More...
Did you know that the average Canadian household is more than $40,000 richer than the average American household? Part 2
[by Michael Adams , special to The Globe & Mail] Part 2: Canadians have traditionally been the cautious, fiscally conservative society, watching American economic dynamism from a safe remove (and subsisting on a small cut of the branch-plant spoils). Read More...
Did you know that the average Canadian household is more than $40,000 richer than the average American household? Part 1
[by Michael Adams , special to The Globe & Mail] Part 1 Currently, the average Canadian household is more than $40,000 richer than the average American household. (According to the latest Environics Analytics WealthScapes data, the average household Read More...