Mortgage Logic

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Finance Minister Tightens Insured Mortgage Rules Again In Less Than A Year

Going Overboard, Who Is Captain Of Canadian Mortgage Ship? Today the Canadian Finance Minister (Flaherty) announced additional tightening of rules for government backed (insured) mortgages.  Last April 2010 he introduced rules that effectively reduced the ability for Canadians to leverage their homes and revenue properties.  Today he focused solely on Canadians’ homes.  The three sweeping …

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US Manufacturers Will Come out of Recession Meaner & Leaner

Unemployment not a concern of progressive means of production in US. At a recent CAAMP (Canadian Association of Accredited Mortgage Professionals) conference in Montreal, Benjamin Tal, CIBC economist said (paraphrased) that the most significant event that will come out of the current extended period of low interest rates will be the massive re-investment by manufacturers/exporters …

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Bank of Canada lowers overnight rate target by 1/2 percentage point

3 March 2009, OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent. The outlook for the global …

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