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Interest rates will remain low for a while - Scotia bank
The Bank of Nova Scotia has released a new forecast which tells Canadians to expect low interest rates until 2014. In the forecast, Scotiabank economists Dov Zigler and Derek Holt estimate the economy will likely average 1.9 per cent growth this year, Read More...
Canadians don't regret their mortgage choices
Canadians have heard the many cautions about carrying too much debt and are taking action to insulate themselves from future economic downturns, says an annual report by the Canadian Association of Accredited Mortgage Professionals (CAAMP). Highlights Read More...
3 Months Mortgage Review
Key developments since the August update: Economic growth concerns reached a peak for the year but have since subsided (slightly) The 5-year bond yield (which leads fixed mortgage rates) fell to 18-month lows before rebounding strongly Prime rate rose Read More...
Variable-Rate Mortgage Forecast
Most analysts now expect the Bank of Canada to remain on the sidelines until 2nd quarter 2011. On average, major economists now predict a 100 basis point increase in the overnight rate over the next 15 months. Their outlooks, if accurate, imply a 4.00% Read More...
The importance of a Mortgage "Term"
There's an old saying: "The lowest rate will save you hundreds, but the wrong term can cost you thousands." Put another way: your mortgage term can have a far greater impact on interest cost than the up-front interest rate. That’s Read More...
First-Time Buyer. The Importance of Pre-approval
Pre-approval can be a very valuable step towards purchasing a home. Many home buyers get pre-qualified for a home loan early on, and then become pre-approved before beginning a serious home search. By completing your mortgage application prior to choosing Read More...