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Articles from The Globe and Mail


  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


TSX shakes off tariff concerns, rebounds to record high
DAVID BERMAN  

Thursday, June 21, 2018

After a long period of sluggish performance, Canada's benchmark index has shaken off concerns about tariffs, crude oil prices, mortgage regulations and interest rates - and emerged to a record high.
FULL STORY


Citigroup to pay $100-million to settle Libor charges
KEN SWEET  

Saturday, June 16, 2018

Citigroup Inc. agreed on Friday to pay US$100-million to settle charges that its bankers manipulated an important interest rate used to price everything from credit cards to mortgages.
FULL STORY


Home sales likely to drop 11% from 2017, CREA says

Saturday, June 16, 2018

The Canadian Real Estate Association (CREA) is lowering its national home sales forecast for this year because of weaker sales in British Columbia and Ontario.The industry association, which represents about 100,000 real estate agents across Canada, said on Friday it now expects home sales this year to fall 11 per cent compared with a year ago to 459,900 units in 2018. The prediction compared with a forecast for a 7.1-per-cent decline the association released in March.
FULL STORY


Stricter mortgage rules, higher rates force Canadians to lighten debt load
DAVID PARKINSON  

Friday, June 15, 2018

Canadians' household debt load took a notable step back from near-record levels in the first quarter of the year as a trifecta of tougher mortgage rules, rising interest rates and accelerating incomes delivered a dose of relief that policy makers have long been trying to achieve.
FULL STORY


Economy expected to power ahead despite disappointing first-quarter GDP
DAVID PARKINSON  

Friday, June 01, 2018

The Canadian economy stumbled in the first quarter of the year, tripped up by weakness in consumer spending and housing markets, but a solid finish to the quarter has spurred optimism that the economy is headed into better times.
FULL STORY


U.S. home prices jump as supply dwindles

Wednesday, May 30, 2018

U.S. home prices climbed in March, with buyers paying a premium for ownership as the number of properties up for sale declines, and mortgage rates increase.The SandP CoreLogic Case-Shiller 20-city Home Price Index released on Tuesday increased 6.8 per cent in March from a year earlier. The sharpest gains were in Seattle, Las Vegas and San Francisco, each of which reported prices rising in excess of 11 per cent.
FULL STORY


Retail, business banking drive RBC, TD profits higher
JAMES BRADSHAW  

Friday, May 25, 2018

Rapidly growing profit from Canadian retail and business banking has helped Canada's two largest banks escape the drag from a slower mortgage market.Royal Bank of Canada and Toronto-Dominion Bank both comfortably surpassed expectations for earnings in their fiscal second quarters. And in both cases, higher returns from retail and business clients coupled with healthier margins as interest rates begin to rise were key to offsetting rare pockets of weakness.
FULL STORY


Don't expect the loonie to go up or the BoC to hike interest rates
DAVID ROSENBERG  

Thursday, May 24, 2018

The Bank of Canada's next policy decision is on May 30, but don't expect many fireworks or big moves higher in the Canadian currency. Here are seven reasons why the bank won't raise rates next week and why the loonie isn't going to climb.
FULL STORY


Mortgage stress tests aren't killing the housing market
ROB CARRICK  

Wednesday, May 23, 2018

When things go wrong in the housing market, people get angry.So expect to hear a lot of irate commentary on whose fault it is if house prices keep falling in Toronto and other places where people have been making lots of money off the housing boom.
FULL STORY


How to get ahead of the clouds forming over fixed-rate mortgages
ROB CARRICK  

Friday, May 18, 2018

If the mortgage-rate outlook was a weather forecast, you'd see gathering clouds and rain.For now, the sun is done. Borrowing costs on the hugely popular five-year fixedrate mortgage have been creeping higher since the year began, and pressure for more increases is building. You can see it happening in this chart showing the return, or yield, on the fiveyear bonds the Government of Canada issues to finance its operations.
FULL STORY


Home Capital taps banks to replace Berkshire credit line
JAMES BRADSHAW  

Thursday, May 17, 2018

Alternative mortgage lender Home Capital Group Inc. has secured a smaller, less expensive credit line from two Canadian banks to backstop any unexpected funding needs.Starting in July, the two-year, $500-million credit facility will replace an existing $2-billion line of credit from Berkshire Hathaway Inc. - the firm run by billionaire investor Warren Buffett, which is Home Capital's largest shareholder. As Home Capital continues to recover from a funding crisis sparked by a sudden run on its deposits last year, the company has been looking to negotiate a less costly safety net. But executives at the lender stressed that the switch to secure backup credit from two unidentified banks does not signal any change in Berkshire's commitment to owning Home Capital shares.
FULL STORY


TD discounts five-year variable mortgage rate
ARMINA LIGAYA  

Wednesday, May 16, 2018

Toronto-Dominion Bank is joining a rival bank in offering a highly discounted variable mortgage rate as competition among Canada's biggest lenders heats up.The Toronto-based bank said on Tuesday it's lowering its fiveyear variable closed rate to 2.45 per cent, or 1.15 per cent lower than its TD Mortgage Prime rate, until May 31.
FULL STORY


Why Pizza Pizza's shares have gone cold
JOHN HEINZL  

Wednesday, May 16, 2018

Pizza Pizza promotes its food as ''hot and fresh.'' But lately, its publicly traded shares have gone staler than a day-old pie.Since I launched my Yield Hog Dividend Growth Portfolio at the end of September, Pizza Pizza Royalty Corp. (PZA) has plunged about 19 per cent, making it the worst performer in the model portfolio.
FULL STORY


Mortgage rates are rising - but risks to stock investors are overstated
DAVID BERMAN  

Saturday, May 12, 2018

Interest rates are heading higher and the Big Banks have been increasing their posted mortgage rates. This sounds like worrisome news for the Canadian housing market and stocks that are exposed to the market, but are the fears overblown?
FULL STORY


Switching lenders has become easier for some homeowners
ROBERT MCLISTER  

Saturday, May 12, 2018

Some money-saving updates to Canada's mortgage rules could save you some loot if you're renewing a mortgage. Here's what changed.In October of 2016, the government banned refinances from being default insured. But regulators allowed lenders to keep insuring transfers. A ''transfer'' is when you switch lenders to get a better deal, but don't increase your mortgage risk - as opposed to a ''refinance,'' in which you may increase your mortgage amount and/or amortization.
FULL STORY


How aggressive is your bank about jacking up interest rates?
ROB CARRICK  

Friday, May 11, 2018

It's a mistake to shrug off interest-rate increases because all banks are doing it.There's a lot of sameness to how banks treat their customers, but raising rates is an exception. We've recently seen varying levels of aggressiveness in raising mortgage rates. And in one case, we've seen an unusually shaky hand in ramming through a rate hike on lines of credit. If you're a borrower, keep an eye on how banks compare with each other to make sure you're not getting shafted.
FULL STORY


Ten ideas for spending this year's tax return
TIM CESTNICK  

Friday, May 11, 2018

FCPA, FCA, CPA(IL), CFP, TEP, author and co-founder and CEO of Our Family Office Inc.Mother's Day is almost upon us, and it brings to memory the story of Michael Klingebiel of New Jersey who, several years ago, reneged on an agreement with his mother to share any lottery winnings with her. He won US$2.15-million but claimed that the particular lottery was not part of his deal with his mother.
FULL STORY


Canada's mortgage test just got tougher
MATT LUNDY  

Thursday, May 10, 2018

It just got a little tougher to qualify for a mortgage in Canada.A rate used in mortgage stress tests - more formally known as the Bank of Canada's conventional five-year mortgage rate - is now 5.34 per cent, up from 5.14 per cent.
FULL STORY


Mortgage-rate bump promises pain
ROBERT McLISTER  

Friday, May 04, 2018

Mortgage planner at intelliMortgage and founder of RateSpy.comInterest in mortgage rates spiked this week after Toronto-Dominion Bank boosted its posted five-year fixed rate by 45 basis points (bps). The aggressive move undoubtedly unnerved many homeowners, who were left wondering whether they could afford higher rates.
FULL STORY