News

14 Dec 2016

Fed Hikes Rates For First Time This Year

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Rarely has there been a more widely expected result as today’s 0.25 percent rate hike by the Fed. This is the second interest rate increase since the Fed started the current process of interest rate re-normalization one year ago. Although, many had called for additional hikes earlier this year, the policy makers held the overnight Read More

8 Dec 2016

American Presidential Implications on Reverse Mortgages in Canada

Posted by: Roland Mackintosh

HomEquity Bank - Business Development Manager

It’s been a month since Donald Trump stunned the world by beating Hillary Clinton and his presidential win is already affecting many Canadians. Who else but Donald could wipe out more than 1 Trillion dollars in the bond market [1] as investors worry about his campaign promises to cut taxes and take on massive amounts Read More

7 Dec 2016

Bank on Hold As Housing Expected to Slow

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

It is no surprise to anyone that the Bank of Canada maintained its target overnight rate at 1/2 percent today, judging that although the global economy has strengthened, uncertainty continues and is damaging business confidence and dampening investment in Canada’s major trading partners. Since the Trump victory, US interest rates have risen sharply with the Read More

7 Dec 2016

Financing Options For Conventional Borrowers

Posted by: Pauline Tonkin

Dominion Lending Centres - Accredited Mortgage Professional

To understand financing options for conventional borrowers – ask your Dominion Lending Centres Mortgage Broker.  In October 2016 the Federal Government announced some significant changes to mortgage rules for high ratio borrowers.  Changes for high ratio mortgages took effect Oct 17th.  Changes for conventional borrowers took effect Nov 30th.  These changes will result in tighter Read More

6 Dec 2016

10 Things You Should Know About Buying a Strata

Posted by: Kathleen Dediluke

Dominion Lending Centres - Accredited Mortgage Professional

Strata condominiums or townhouses are a popular home options with many benefits including providing little personal maintenance, the ability to live in a more populated area, among others. 10 Things you should know about Condo and Townhouse Strata Properties Each Strata lot typically has one vote. You may have a monthly strata fees which will Read More

5 Dec 2016

How a Backup Offer Can Secure Your Dream Home

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Have you found the house of your dreams? But there is already an accepted offer in place? OK, but are there outstanding subjects on the offer? Perhaps there’s a ‘subject to sale’ with a 72-hour trigger clause against the potential buyer, and this one condition might still be anywhere from two to six weeks from Read More

2 Dec 2016

Canadian Jobless Rate Falls as Labour Force Shrinks

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

Following four consecutive months of job gains, Canadian employment increased by 11,000 (or 0.1%) in November. Economists had expected hiring to decline by 15,000 according to the Bloomberg News survey. All of the rise in employment, however, was in part-time jobs, as full-time hiring fell by 8,700. This pattern is particularly worrisome as over the Read More

2 Dec 2016

Why Michael Jackson Died Broke and How To Learn From His Mistakes

Posted by: Alisa Aragon

Dominion Lending Centres - Accredited Mortgage Professional

The King of Pop made the best-selling album of all time, Thriller (which came out 34 years and two days ago!), with sales of around 65 million copies. Yet in spite of the huge revenues he continued to receive from such recordings, Michael Jackson died broke. How could this be? The answer to this question reveals Read More

1 Dec 2016

Ten Steps of the Homebuying Process

Posted by: Marc Shendale

Genworth Canada - Vice President Business Development

Starting the journey to homeownership can be overwhelming and stressful. But with a little planning, you’ll get the home that’s right for you. A home that strikes a balance between your “wish list” items and the practical realities of the property, location and the housing market. Before you know it, you’ll have a place to Read More

30 Nov 2016

Canadian Economy Rebounds in Q3

Posted by: Dr. Sherry Cooper

Chief Economist, Dominion Lending Centres

According to data released this morning by Statistics Canada, the Canadian economy bounced back strongly in the third quarter from the Alberta-wildfire contraction in Q2. The economy grew at a 3.5% (quarter-over-quarter) annual rate in Q3, in line with expectation, following the 1.3% slide in the prior period. The rebound was driven by a sharp Read More

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