Archive for April, 2011

Spam Bill C-28

Share Canada recently enacted a new anti-spam law called Bill C-28. It’s expected to come into force later this year. Proponents say C-28 will lighten the spam load on all of us. At the same time, it could turn many businesspeople into spammers themselves! As a mortgage broker in Toronto, for example, it’s not uncommon to [...]

Bank of Canada Slashes Growth Prediction

Share Canada’s economic growth will decelerate sharply in the second quarter of the year, according to a new report by the Bank of Canada. The country’s central bank said it now expects Canada’s gross domestic product (GDP) to expand in the April-to-June period — but by less than half of the 4.2 per cent it [...]

International Financial Reporting Standards

Share IFRS. You’ll hear more about this acronym as time goes on. It stands for International Financial Reporting Standards and it’s basically a newly-adopted set of accounting rules. The relevance here is how IFRS will impact Canadian mortgage rates. The first effect of IFRS that we noticed was with Home Trust’s prime mortgage rates. Home’s [...]

7 Ways to Better Your Credit Score

Share If you’re in the market for a mortgage, a car loan, or looking to rent an apartment, it may be time to check your credit score. A credit score is an ever changing three-digit number between 300 and 900. The higher your number, the more likely you are to be approved for a loan [...]

Rising Bond Yields Pressuring Fixed Rates

Share The 5-year government yield (which leads 5-year fixed mortgage rates) pierced 2.80% today. It’s risen almost 35 basis points in two weeks. That’s squeezed gross lender margins on deeply-discounted five-year rates to near 1.00% (1.20% can be considered “normal”).  As a result, ultra-low fixed rates are in danger of ticking 10+ basis points higher, [...]