Congrats to every financially stable borrower who got a 5-year fixed this month – you are philanthropists who generously donated to your lender's “We Love Your Money” foundation. And be sure to attend the next meeting of the "I Didn't Do the Math" club. It's held regularly at the "Shoulda Got Better Advice" café....
Congrats to every financially stable borrower who got a 5-year fixed this month – you are philanthropists who generously donated to your lender's “We Love Your Money” foundation. And be sure to attend the next meeting of the "I Didn't Do the Math" club. It's held regularly at the "Shoulda Got Better Advice" café.
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A Department of Finance official confirmed on Friday that the six Canadian Mortgage Charter (CMC) provisions are expectations (she called them "rules") but most won't be regulations.
The official wouldn't commit to saying banks had to follow all six rules, but they are "expected" to.
"This is the government putting in black and white in a fiscal document what Canadians should expect when they are up for renewal," the official said, speaking on background. "And if they feel their banks are not...
A Department of Finance official confirmed on Friday that the six Canadian Mortgage Charter (CMC) provisions are expectations (she called them "rules") but most won't be regulations.
The official wouldn't commit to saying banks had to follow all six rules, but they are "expected" to.
"This is the government putting in black and white in a fiscal document what Canadians should expect when they are up for renewal," the official said, speaking on background. "And if they feel their banks are not holding up their end of the bargain, there are places they can turn to, like the FCAC."
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You hear it all the time, "Rental properties don't cash flow anymore," like it's some kind of universal truth.
But not every new rental is a money pit waiting to devour your wallet.
For property investors who like to skate to where the puck is headed, it's about seeing opportunities where others see a closed door....
You hear it all the time, "Rental properties don't cash flow anymore," like it's some kind of universal truth.
But not every new rental is a money pit waiting to devour your wallet.
For property investors who like to skate to where the puck is headed, it's about seeing opportunities where others see a closed door.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
The Liberals served up their Fall Economic Statement (FES) yesterday and it's got multiple ramifications for mortgage borrowers and lenders. We've taken the liberty to grade our trusty rule makers on each of their mortgage-related moves.
The result? A smattering of A's - impressive. But then, as unexpected as finding cheese on a pizza, there's one glaring F....
The Liberals served up their Fall Economic Statement (FES) yesterday and it's got multiple ramifications for mortgage borrowers and lenders. We've taken the liberty to grade our trusty rule makers on each of their mortgage-related moves.
The result? A smattering of A's - impressive. But then, as unexpected as finding cheese on a pizza, there's one glaring F.
You don't have access to this post on MortgageLogic.news at the moment, but if you upgrade your account you'll be able to see the whole thing, as well as all the other posts in the archive! Subscribing only takes a few seconds and will give you immediate access.
Out of the myriad of economic data, #CPI# is what matters most. And we made solid progress today. The question is, when will mortgage rates catch on?
What CPI did
Headline inflation, which usually hogs the spotlight, fell to 3.1% in October from 3.8% the prior month.
But the bigger star was the BoC's closely watched 3-month average core inflation measure. It dropped to 2.95%, the best reading since early 2021.
The cherry on top was the month-over-month change. BMO Economics notes that "in s...
Out of the myriad of economic data, #CPI# is what matters most. And we made solid progress today. The question is, when will mortgage rates catch on?
What CPI did
Headline inflation, which usually hogs the spotlight, fell to 3.1% in October from 3.8% the prior month.
But the bigger star was the BoC's closely watched 3-month average core inflation measure. It dropped to 2.95%, the best reading since early 2021.
The cherry on top was the month-over-month change. BMO Economics notes that "in seasonally adjusted terms, prices fell 0.1%" in October. That's the first such decline since we all started hoarding toilet paper in 2020.
Mortgage interest cost and rent remain the main inflation drivers. The latter is more of a troublemaker than the former, given that rates should be on the downswing (infamous parting words).
"We expect headline inflation to fall to 2.0% by the third quarter of next year," said Stephen Brown from Capital Economics today. "With gasoline prices falling further in recent weeks, headline inflation is on track to drop below 3% this month."
It wasn't all a picnic in the park, however. Services inflation picked up, as did seasonally-adjusted inflation, excluding food and energy.
Canada's 5-year yield took the data in stride, falling just 3 bps on the day as of this writing. But it still managed to hit a low unseen since July.
Mortgage implications
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