Tag: mortages

The fairy tale of Canadian fiscal prudence

With household debt at 17 trillion, a savings rate at a fraction of what it was 30 years ago, and waves of warnings from international banks and Nobel-winning economists about our debt-fuelled housing market, any pretense to Canadian fiscal prudence is relegated to the land of folk-lore and fairy tales. Canadians have stopped worrying about…

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The Bank of Canada vs. the Government of Canada

In an interview earlier this month, Canada’s Finance Minister Jim Flaherty suggested that the Bank of Canada (BoC) could feel pressure to raise short-term rates later this year if the US Federal Reserve continues to taper its extraordinary stimulus. Mr. Flaherty also cited reports from the International Monetary Fund (IMF) and the Organisation for Economic Co-operation…

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Higher Alberta Residential Rents Around the Corner?

Finance Minister Jim Flaherty announced this past week that effective July 9, 2012 CMHC mortgage insurance will only be available on mortgage amortization periods to a maximum of 25 years from the current 30 years.  Furthermore, home equity lines of credit (HELOC) will be limited to a maximum of 80 percent assessed value, down from the…

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Aug/Sept 2011- Alberta Mortgage Arrears Skyrocket

Alberta Mortgage Arrears Skyrocket Although bankruptcy trends appear to be favorable with improvements in the provincial economy recent data from the Canadian Bankers Association shows mortgage delinquencies skyrocketing in Wild Rose Country. In spite of our economic strength provincially, the rate of mortgages in arrears in Alberta (.84%) is currently more than double the national…

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