Mortgage Logic

Consumer Advice

Bank of Canada raises its Key Rate by 0.75% today

Today the Bank of Canada has increased its key overnight lending rate to 3.25%, a 0.75% increase.  Overall, this year the BoC has raised its key rate by 3.0% since March, rivaling the mid-1990s in rate increases.  Per the BoC: “The Governing Council remains resolute in its commitment to price stability and will continue to …

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Annual Surtax on High Value Houses…A Really Bad Idea for the Canadian Housing Market & Economy

Taxes have never achieved anything good for an Economy or a Society and certainly have never achieved the objective that they were originally dreamt up for.  They are punitive and negative and discourage raising the overall standard of living for all. A new report backed by Canada’s national housing agency is calling for a home …

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Beware the IRD Mortgage Penalty

IRD, a home owner’s most feared three letter acronym! Clients looking to refinance their existing mortgage to lower their rate or moving to a new property, run into this term every time, especially these days.  The size of an IRD (interest rate differential) penalty depends upon who you have your mortgage with, not just the interest rate …

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The Perfect Loan File

Mark Greene, Forbes When I was a kid, my father occasionally issued directives that I naturally thought were superfluous, and when asked why I needed to do whatever it was he wanted me to do, his answer was often: “Because I said so.” Accepting Documentation Requirements – Makes Life Easier! The media has it all …

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Tal Talks Recovery, Dismisses Housing Bubble at CAAMP Session

Benjamin Tal kept an optimistic tone during his talk at the annual CAAMP conference, saying the recession is over, business bankruptcies are down, and key interest rates in Canada could remain low well into next year depending on when U.S. rates rise. “In Canada, there was no need to print money for stimulus during the …

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