Mortgage News

Subscribe via E-mail

Your email:

Posts by category

Current Articles | RSS Feed RSS Feed

Bank of Canada could press country’s top lenders to follow rate cut

 
27.01.15 resized 600

Richard's comments:  Hopefully BoC has enough influence over the Big Banks that we see a reduction in Prime. A drop in prime will help maintain, and possibly increase the value of homes in the Waterloo Region.  If this happens, keep your payments the same to ensure you are paying off your mortgage quickly and staying ahead of the game.  This will protect you if rates start to edge up and increase your equity in your home. 

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada shocks market with rate cut

 
21.01.15 resized 600

The Bank of Canada announced a surprise quarter-percentage-point cut to its key interest rate Wednesday – a move it calls “insurance” against the potentially destructive effects of the oil price collapse.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Cooling Calgary real estate adds to fears beyond energy sector

 
19.01.15 resized 600

Cracks are emerging in Calgary’s once red-hot market for commercial and residential real estate, adding to fears that rapidly sinking oil prices will trigger a broad slowdown beyond the energy sector.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada warns economy could be in for a rough ride

 
16.01.15 resized 600

The Bank of Canada is acknowledging for the first time that the world may be facing a prolonged oil-price slump, casting a dark shadow over the country’s economic prospects.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Paying down debt is the top priority for Canadians in 2015: CIBC poll

 
05.01.15 resized 600

TORONTO - A new poll suggests that paying down debt is the biggest financial priority for Canadians in 2015.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Household debt climbs to record 162.6 per cent of disposable income

 
17.12.14 resized 600

TORONTO — A sustained period of low interest rates has allowed Canadians to rack up record levels of debt which, along with tumbling oil prices, pose a threat to the country's financial stability, economists say.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank of Canada more worried about household debt than falling oil prices

 
describe the image

OTTAWA — The Bank of Canada acknowledges that lower-than-anticipated oil prices “will weigh” on the economy, but policymakers are sticking to their hope for a “broadening recovery.” That may be an elusive quest if the other major weight on Canadian growth — a massive load of household debt —continues to climb higher.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

What to look out for when renegotiating a mortgage

 
16.12.14 resized 600

Renegotiating a mortgage can be like ending a bad marriage: Both can be painstaking processes, but can leave you facing a more stable future.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

TD Bank client 'devastated' by $17,000 mortgage penalty

 

With Realtors and Mortgage Brokers being at the front end of transactions it is very important the client is aware of the potential penalties when dealing with a Retail Bank, as the penalties can be devastating if clients are looking at moving or refinancing during the term of the Mortgage.  Unfortunately, Clients are not being educated upfront on how penalties can affect their future borrowing and limit their choice to shop around.    

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Bank boss holds rates at 1 per cent

 

OTTAWA — The Bank of Canada says the country's economic positives have largely offset the negatives, a balance that led governor Stephen Poloz to maintain the trend-setting interest rate Wednesday at one per cent.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365
All Posts