Mortgage Logic

Economics

U.S. Fed & Trump More Important to Canadian Rates than Bank of Canada Right Now

  Much has happened with interest rates, the lending market and investing since our last update several weeks ago.  We thought it important to wait and confirm this week’s move by the U.S. Federal Reserve (the U.S.’s equivalent of the Bank of Canada) before further comment.  Here is what is important to know: 1.) On …

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Feds Raise Down Payment Requirements

by Theophilos Argitis and Greg Quinn, Bloomberg News Canada is raising minimum down payments on some government-insured mortgages, a move aimed at curbing the risk of a housing crash in Toronto and Vancouver where high prices are leaving some families at risk from heavy debt loads. Finance Minister Bill Morneau announced the plans on Friday …

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Canadians Prolific Buyers of Florida Property

Garry Marr, National Post The National Association of Realtors (U.S.) reported that Canadians spent US$2.2-billion on Florida real estate in 2013. This makes Canada the state’s No. 1 international buyer of real estate for the seventh consecutive year. Canadians comprised 31.6% of all international purchases in Florida. 89% of Canadians pay cash for their property …

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Bank of Canada Fears Weak Growth in Economy

Jeremy Torobin, Globe and Mail It’s almost a cliché that neither advanced nations nor emerging markets are doing all they can to fulfill all the commitments they’ve made at Group of 20 summits to close yawning imbalances in the global economy, preventing a smoother, faster recovery. Few economic forecasting shops, though, have anything like the …

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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 Rate Watch: What Will the Bank of Canada decide?

The Bank of Canada is concerned about the strong Canadian dollar affecting the pricing of goods and services to export customers.  The U.S. economy remains sluggish and foreclosures of residential properties there remain very high.  Economist generally believe that a consumer led expansion will be the only true way out of recession in the U.S.  …

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