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Articles from The Globe and Mail


  NEW HOME OWNERS
DIANE PETERS  

Monday, October 15, 2018

To qualify to get yourself into the condo or house of your dreams, you have to play by the ever-changing rules. Here are a couple of the current requirements: Down payment: You need at least 5 per cent down to buy a $500,000 property. Anything more expensive, you need 10 per cent of the value between $500,000 and $1-million. So, if your house is listed at $600,000, you need $35,000 down. If you have less than 20 per cent down, you will need mortgage loan insurance as well, which is a one-time cost.
FULL STORY


Is it time to lock in to a fixed-rate mortgage?
DAINA LAWRENCE  

Monday, October 15, 2018

As interest rates start to creep up, homeowners with variable-rate mortgages are wondering whether to lock in to a fixed-rate one.Since July of 2017, the Bank of Canada has increased interest rates four times, bringing the current rate to 1.5 per cent from 0.5. There is still speculation that there could be one more increase before the end of this year.
FULL STORY


Scotiabank hikes posted five-year fixed rate
ROBERT McLISTER  

Saturday, October 13, 2018

ANALYSISFixed mortgage rates are hitting multiyear highs. But so far, qualifying for a mortgage isn't getting much harder.For roughly nine in 10 mortgage borrowers, mortgage approval depends on passing the government's ''stress test.'' As of this moment, that means applicants must prove they can afford a rate of at least 5.34 per cent (a.k.a. the ''mortgage qualifying rate'' or ''MQR'').
FULL STORY


Stuck in the middle with growth: Fiscal consequences, no easy solutions
GLEN HODGSON  

Friday, October 12, 2018

Senior fellow at the C.D. Howe InstituteAfter a pretty good year for economic growth in 2017, the Canadian economy has settled back into a world of modest, even mediocre, annual growth of 2 per cent or less. The United States is having a good year in 2018, with growth pushing 3 per cent, in part due to the short-lived impact of tax reform.
FULL STORY


New CMHC guidelines could open financing doors for the self-employed
SOLARINA HO  

Monday, October 01, 2018

Muhammad Arif Omari, a driver from Edmonton, was set to renew his mortgage in September when he was told he wouldn't be able to switch to a new lender offering a lower rate because he was selfemployed.
FULL STORY


VICTOR'S VISION
James Bradshaw  

Saturday, September 29, 2018

It's client appreciation day at Canadian Imperial Bank of Commerce in Montreal, and chief executive Victor Dodig is in his element.Stepping into a wood-panelled boardroom one morning in March, the energetic Mr. Dodig is slightly behind schedule, and he apologizes to two dozen privatewealth managers and investment advisers who've gathered to meet the boss. Before the day is done, he'll also visit three bank branches and a call centre. Wealth management, in particular, is near and dear to him - he led the division before he was named CEO in 2014.
FULL STORY


Can savings cushion retirement travel plans?
DIANNE MALEY  

Saturday, September 22, 2018

Brett and Lila have been living fairly modestly and using all their surplus cash to pay down the mortgage on their B.C. home as quickly as possible. Now that they're in their 40s, they wonder whether they should rethink their strategy and ''shift to saving more for retirement,'' Lila writes in an e-mail.
FULL STORY


THE 10-YEAR HANGOVER
DAVID PARKINSON, BARRIE MCKENNA  

Saturday, September 15, 2018

In mid-September of 2008, as Henry Paulson stood face-to-face with one of the most dangerous financial meltdowns in history, his days were so hectic that he didn't have time to fear he might screw it all up.
FULL STORY


Blind spots still threaten financial system
RITA TRICHUR  

Saturday, September 15, 2018

A year after he was appointed Canada's top banking watchdog, Jeremy Rudin shared his reflections on the challenges of the postcrisis era.Speaking to a Toronto business crowd back in June, 2015, Mr. Rudin said the failure of Lehman Brothers and its aftermath opened eyes around the world to lapses in banking regulation.
FULL STORY


What's in store for trade and interest rates as NAFTA negotiators return to the table
MICHAEL BABAD  

Monday, September 03, 2018

THE WEEK AHEADIt's shaping up to be an interesting week, with trade playing a central role.As North American free-trade agreement negotiators return to the table Wednesday, the Bank of Canada will be releasing its interest-rate decision. and the most likely scenario is no change. Those are just two developments: Watch, too, for trade numbers the same day.
FULL STORY


ENSURING YOU GET A GOOD GIC RENEWAL RATE
ROB CARRICK  

Wednesday, August 29, 2018

Convenience has its cost, GIC investors.If you deal with a big bank, you may get a renewal notice when your guaranteed investment certificates come due. It basically sets out the amount of principal you have, the maturity date of your existing GIC and the rate being offered on renewal, which can occur automatically.
FULL STORY


Rising interest rates expected to boost bank earnings, payouts
DAVID BERMAN  

Monday, August 20, 2018

Concerns about the Canadian housing market have been weighing on bank stocks this year, and it's likely that these concerns will be a focal point for investors as the big banks roll out their fiscal thirdquarter results starting this week.
FULL STORY


Rising interest rates create headwinds for Home Capital
JAMES BRADSHAW  

Wednesday, August 15, 2018

Home Capital Group Inc. is feeling the sting as rising interest rates make it more expensive to raise term deposits, putting pressure on a key source of funding as the alternative mortgage lender continues to recover from a liquidity crisis last year.
FULL STORY


How to determine when you'll pay more for a mortgage
ROBERT MCLISTER  

Saturday, August 04, 2018

Nobody wants to pay more than necessary when getting a mortgage. But more than four out of five applicants have little chance at getting Canada's true lowest rate.Rock-bottom rates are reserved only for mortgages that present the least risk and cost for the lender. And relatively few mortgages fall into this bucket.
FULL STORY


Low credit score? Smartly manage your profile to appease picky mortgage lenders
ROB CARRICK  

Saturday, August 04, 2018

Between rising interest rates and tougher borrowing requirements, 2018 is the toughest year in ages for people seeking a mortgage.Here's a tip on how to improve your chances of getting the mortgage you want in this challenging environment for borrowers: Manage your credit profile intelligently. There's more to this than having a high credit score.
FULL STORY


Paying debts tops investing - but should it?
ROB CARRICK  

Wednesday, August 01, 2018

It looks like Canadians have come to a consensus in answering the perennial personal-finance question of whether to pay down debt or invest.Debt wins, by a kilometre. A recent survey by Manulife Bank asked 2,003 people this question: ''If you were given an extra $1,000 a month, what would you be most likely to use it for?'' Fifty-two per cent of survey participants said paying off debt or a mortgage, while 30 per cent picked saving.
FULL STORY


Big banks don't share Canadians' housing obsession
ANDREW WILLIS  

Monday, July 30, 2018

Canada's housing market is something of a national obsession. It's understandable. It's also misguided when it comes to Canada's banks.It's all very well for renters to dither about jumping in, or homeowners to fret about what their place will be worth after their kitchen reno. But along with being a tad tedious, all this talk is distracting investors from fundamental improvements in the fortunes of the big banks.
FULL STORY


CPPIB signs on to joint venture in California
JEFFREY JONES  

Tuesday, July 24, 2018

Canada Pension Plan Investment Board has teamed up with a major U.S.-based developer to buy a 47-acre business park in Santa Monica, Calif. The US$628-million deal is the latest in a string of commercial property acquisitions in the United States by the federal fund manager.
FULL STORY


What Benjamin Tal sees on the economic horizon
JENNIFER DOWTY  

Monday, July 23, 2018

Economic health is the foundation for earnings growth for many industries and companies. The economy is the engine that can fuel corporate profitability and strong stock market returns.Given the flat returns in the SandP/TSX Composite Index yearto-date, The Globe and Mail recently spoke with Benjamin Tal, deputy chief economist at CIBC World Markets, to get his views on the state of the economy. Here are excerpts from the conversation, with an expanded version available to subscribers online at tgam.ca/inside-the-market.
FULL STORY


In cooling housing market, time to revisit active saving
ROB CARRICK  

Wednesday, July 11, 2018

A hot housing market feels awesome if you own a home, but there are side effects.You spend more when your home is rising in value, and you put less money away as savings.
FULL STORY


Mortgage renewals just got more complicated
ROB CARRICK  

Wednesday, July 04, 2018

New accounting rules adopted by the banks mean they're paying closer attention than ever before to your financial situation and your home's value when you renew a mortgage.
FULL STORY


Canada's economy is booming, but trade, debt clouds loom on horizon
DAVID PARKINSON  

Monday, July 02, 2018

After spending the past month traversing the country and meeting with business leaders, Peter Hall has come away with two distinct impressions that don't quite mesh with each other.
FULL STORY


Game on: Scotiabank embarks on $800-million naming-rights venture at Air Canada Centre
JAMES BRADSHAW  

Monday, July 02, 2018

The home of the Toronto Maple Leafs and Toronto Raptors has officially been renamed Scotiabank Arena, as Canada Day marks the start of the Bank of Nova Scotia's 20year venture to burnish its brand and attract new customers.
FULL STORY


Citing 'litany' of unknowns, Poloz stays mum on July rate hike
BARRIE McKENNA  

Thursday, June 28, 2018

Canadians will be disappointed if they expected a clear signal this week from Bank of Canada Governor Stephen Poloz on the odds of a July interest-rate hike.Citing the ''litany of things we simply do not know,'' Mr. Poloz said on Wednesday that foreshadowing rate decisions would put the bank's credibility at risk and provide a false sense of certainty in an unusually volatile economic environment.
FULL STORY


As bond yields retreat, variable-rate mortgages look all the more attractive
ROBERT MCLISTER  

Saturday, June 23, 2018

Just five weeks ago, economists were on TV heralding a July rate hike as interest rates rocketed to seven-year highs.Then the market changed the channel.On Friday morning, Canada's five-year bond yield was trading below 2 per cent for the first time since early April. That's down from 2.35 per cent on May 18, and is a bearish short-term signal for fixed mortgage rates.
FULL STORY