Mike Habib - Mortgages

01/18/2016

With crude Oil prices falling below $30 a barrel, the Lonnie slipping blow 70c against the US$ and China's economy slowing down, will the Bank of Canada cute the overnight lending rate this coming Wednesday?

http://www.thestar.com/business/2016/01/15/odds-favour-bank-of-canada-rate-cut-economists-say.html

More economists are betting the Bank of Canada will cut its trendsetting interest rate to 0.25 per cent on Jan. 20.

01/05/2016

How will the real estate market be impacted by the first wave of millions of Canada's millennials.

http://www.thestar.com/business/real_estate/2016/01/02/millennials-move-up.html

They will be a force to be reckoned with as they move into child-bearing years and need more space, observers say.

12/11/2015

Government increases minimum down payment required to 10% for houses over $500,000 effective Feb 15th 2016

http://www.citynews.ca/2015/12/11/newsalert-feds-increase-minimum-down-payment-for-homes-over-500000/

OTTAWA – Finance Minister Bill Morneau is increasing the amount homebuyers must put forward as a down payment on houses over $500,000. It’s a move designed to cool off the booming real estate market in some of Canada’s biggest cities. Homebuyers will have to put 10 per cent down on the portion of th…

12/04/2015

Mortgage Minimum down payment might change soon.

http://www.huffingtonpost.ca/2015/12/02/mortgage-minimum-down-payment-hike_n_8698474.html

11/21/2015

According to Statistics Canada, more than 70 per cent of Canadians have debt. Here are 8 simple tips to get out of debt.

http://www.cbc.ca/news/canada/toronto/debt-reduction-tips-1.3316912

All week CBC News has looked at consumer debt and financial health. According to Statistics Canada, more than 70 per cent of Canadians have debt. Here’s what you can do to dig yourself out for good.

11/13/2015

Although your credit score is not the only factor lenders look at, yet its a very important one.

http://www.canadianbusiness.com/investing/5-tips-to-boost-your-credit-score/

It’s not rocket science, but it does take some discipline. Here are five simple ways to boost your score and improve your standing with banks.

10/21/2015

Once again Bank of Canada maintain interest rate at 0.50%

http://globalnews.ca/news/2290172/bank-of-canada-say-economy-has-rebounded-holds-interest-rate-steady/

Central bank is maintaining its trendsetting rate at 0.5%, saying Canada has recovered from a mild recession and doesn't need lower interest rates to spur growth.

09/09/2015

Bank of Canada Maintain rate at 0.50%

http://www.ctvnews.ca/business/boc-keeps-key-interest-rate-unchanged-1.2554029

The Bank of Canada is leaving its trend-setting policy rate unchanged at 0.5 per cent, as generally expected.

08/11/2015

China Yuan devaluation already affected Canadian Dollar

http://www.theglobeandmail.com/report-on-business/top-business-stories/disquiet-on-the-western-front-the-tories-and-oil-shocked-alberta/article25861276/

China’s “semi-historic” devaluation is rippling across financial markets this morning, taking the Canadian dollar down with it, among others.

08/03/2015

New Mortgage insurance rule means you can qualify for a higher mortgage if you're renting out your basement.

https://www.biv.com/article/2015/7/new-cmhc-change-means-basement-suites-can-help-qua/

“Good news” allows rent to be counted as income

07/15/2015

Bank of Canada cuts its benchmark rate by another 0.25% today.
TD quickly announced reducing its rate but by 0.1%

http://www.cbc.ca/news/business/bank-of-canada-slashes-benchmark-rate-to-0-5-loonie-drops-to-6-year-low-1.3152673

Canada's central bank lowers its benchmark interest rate to 0.5 per cent from 0.75, the second time this year it has dropped the rate to stimulate the economy, after holding it steady for about four years.