Friday
January 27, 2012
1 Year Closed : 2.75 %
3 Year Closed : 2.89 %
5 Year Closed : 3.19 %
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News
Three new appointments at TMG - Friday, January 06, 2012
In keeping with TMG The Mortgage Group's philosophy of promoting from within, we are pleased to announce the promotions for the following regional leaders effective January 1, 2012:
Bud Jorgenson, Vice-President, Prairie Region; Gord Appel, Vice-President, Alberta Region;Gerald Krahn, Vice-President, Ontario Region.
Not only ...
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Home sales up 4.6 per cent year-over-year in November - Friday, December 16, 2011
TORONTO - Canada's housing sector is edging closer to a sellers' market as sales and prices jumped again in November, but the number of listings dropped off.Home resales rose six per cent last month on a year-over-year basis and jumped 0.5 per cent on a seasonally adjusted basis compared to October levels, the Canadian Real Estate Associati ...
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The Bank of Canada maintaining its overnight rate at 1 per cent - Tuesday, December 06, 2011
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. Uncertainty around the global economic outlook has increased in the weeks since the Bank released its October Monetary Policy Report (MPR). Conditions in global financial markets have deteriorated as the sovereign debt crisis in Europe has dee ...
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Mortgage break fees: The banks' gain is your pain - Wednesday, November 30, 2011
I took out a mortgage a couple of years ago. It was a five-year fixed mortgage at 3.50 per cent.As you may know from a previous column, I am concerned about where interest rates will be in three years when I need to renew my mortgage. I believe there is a real risk that interest rates will move up fairly quickly on ...
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Bank of Canada could slash interest rates - Thursday, November 10, 2011
As the nail biter in Europe continues this week, two economists are predicting the Bank of Canada will move to cut rates in a big way next year.Sheryl King, an economist at Bank of America Merril Lynch, said in a note that the volatility hitting Europe and the risk of damage to the global economy means the Bank of Canada will move to cut its benchm ...
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Stable housing market for 2012 - Tuesday, November 08, 2011
The housing market in 2012 will remain stable barring any major economic pressures. According to the most recent Housing Market Outlook released by Canada Mortgage and Housing Corporation (CMHC), the improving employment situation in certain parts of the country and low interest rates have supported new housing starts and have kept ...
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Mandatory Relicensing for Ontario Mortgage Professionals - Monday, October 17, 2011
The Financial Services Commission of Ontario (FSCO) has mandated that all mortgage brokers and agents, including agents employed by finance companies and principal brokers, are required to complete a relicensing course to renew their licenses in 2012. This has some interesting implications for those in the industry ...
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Global economic crisis may have a silver lining in Canada - Thursday, October 06, 2011
The ongoing financial woes in the US and in countries in Europe are one of the contributing factors to Canada's stable housing market and historically low interest rates, and these rates will continue right into mid-to late 2012.
The variable rate, which is based on the Bank of Canada's Prime rate is sitting at 3% and is likely to s ...
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OMAC and CMAC forms an alliance with TMG - Monday, September 26, 2011
OMAC (Ontario Mortgage Action Centre) in South-West Ontario and CMAC (Canadian Mortgage Action Centre) in Calgary have become an affiliate of the TMG network. With more than 20 locations and over 50 brokers and agents, TMG has now grown its presence in both Southwestern Ontario and Southern Alberta."It's a perfect fit," said Mark K ...
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Canadians realistic about household debt - Tuesday, September 20, 2011
In the past decade consumer confidence in Canada was much higher than what would be expected based on certain household fundamentals including Real Disposable Income Growth, Debt-to-Income Ratios and Consumer Capability Indices. It appears that pre-2008, consumers were confident th ...
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August 2011 Housing Starts - Friday, September 09, 2011
OTTAWA, September 9, 2011 - The seasonally adjusted annual rate1 of housing starts was 184,700 units in August, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 204,500 units in July 2011."Housing starts in August were in line with current demographic fundamentals and are consistent with CMHC's recent Housing M ...
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The Bank of Canada maintains overnight rate at 1 per cent - Wednesday, September 07, 2011
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
The global economic outlook has deteriorated in recent weeks as several downside risks to the projection in the Bank's July Monetary Policy Re ...
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New Director of Sales for TMG in British Columbia - Tuesday, September 06, 2011
TMG The Mortgage Group Canada Inc. is pleased to announce Dan Pultr as Director of Sales for British Columbia. His unique experience on both sides of mortgage lending (prime and subprime), along with his respect for and commitment to the broker channel, makes him a valuable addition to the TMG team. Most recently, as a Business Development Man ...
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Lenders and their mortgage rates - Friday, September 02, 2011
Lately, lenders have been making changes to their mortgage rates and many in the industry are curious as to what is going on. Yes, mortgage rates are currently quite low and are likely to increase but it's the sudden increase in PRIME-based variable mortgages and why we have not seen even greater rate reductions on fixed rate products, specific ...
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Home sales are expected to remain healthy - Tuesday, August 30, 2011
Canada's national housing agency says it expects home sales and construction activity will cool but remain healthy in the second half of the year, due to favourable economic conditions that push up demand for homes.
Canada Mortgage and Housing Corp. said Monday that lower unemployment, a steady level of immigration, and low interest rates are ...
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