Mortgages

Six Canadian stocks to consider buying on the dip

Bargain-seeking investors may still find deals on Canadian stocks.<p>Unlike a nearly 12-per-cent rally this year in the U.S. equity market, domestic stocks are marginally in positive territory after a pullback that began in February. Energy, resource and financial stocks, which make up about …

Stocks

The incredible, disappearing home down payment

Many real estate markets across the U.S. are in the midst of an affordability crisis because of rising home prices, tight access to credit, and a …

Business

How to pick the right mortgage amid growing uncertainty over rates

If you got a mortgage last year, you snagged one of the lowest rates in history. Last September, folks were getting five-year rates at never-before-seen numbers, such as 2 per cent.<p>What a difference a year makes.<p>Today, most rates on Canada's predominate mortgage – the five-year fixed – are north of …

Bank of Canada

Mortgage rates rise after weeks of declines, Freddie Mac says

The average 30-year fixed mortgage rate rose for the first time in seven weeks, according to the latest weekly survey from Freddie Mac.<p>The 30-year …

Business

Reverse Mortgage, Home Equity Loans or Heloc

Everyone wants to lead their retired life peacefully. While some may want to take vacations, the others may require money to cover their living …

When is the best time to exit the London property market?

Owning a property in Central London is a dream for some, but a burden for others – if you are an accidental landlord, that is. An accidental landlord? But that I mean you were lucky enough to buy a property 20 years ago, then decided to move out of London – and were left wondering what to do with …

Real Estate

Proposed Mortgage Rules Will Reduce Your Home-Buying Power By 21%: Report

A proposal by Canada's banking regulator to expand "stress tests" for mortgage borrowers will reduce how much house Canadians can afford by 21 per …

Canadian News

The How-To Guide To Immediate Mortgage Approval

You should and you <i>can</i> know exactly where you stand with your mortgage getting chances on the very first day you apply.<p>Here’s how:<p>If you serve up your complete, accurate and acceptable borrower profile to your lender, you will get credit approval (subject to verification) on day one.<p>Your preliminary …

Fannie Mae

Buying a house just got more expensive: Mortgage rates rise for first time in 7 weeks - MarketWatch

Home buyers beware: The cost of financing the purchase of a new home rose in late September for the first time in nearly two months.<p>The interest rate …

Federal Reserve

Not Flush with Cash? How to Compete with All-Cash Offers

More than ever, we hear about people buying homes in "all cash." But what do you do when your last name isn't "Bezos" and you're trying to buy a …

Money

As the Fed Steps Back From Mortgage Market, REITs Gear Up to Buy

Many fund managers are fearful about the Federal Reserve shedding its massive $1.78 trillion mortgage bond portfolio, a step it plans to start next …

Economy

Libor Phaseout Puts Adjustable-Rate Mortgages in Limbo

The misdeeds of a few rogue bankers in London are going to cause headaches for millions of American home buyers and homeowners.<p>The bankers falsified a widely used interest rate index called the London Interbank Offered Rate, or Libor, during the financial crisis. They did it to make their banks …

Fannie Mae

How Ottawa's so-called fair tax proposals could mean a tax rate of 90 per cent for some businesses

There's been much debate about the Liberal tax proposals released on July 18. I've been a supporter of the small business owner and professional through these debates, and I've received e-mails of thanks, and others not so kind. I had to laugh at one who suggested that I should take my story about …

Retirement

Pensioners’ mortgage debts to double to £40bn by 2030

Britain’s pensioners are racking up ever-growing levels of debts as higher house prices mean families take longer to get on the property ladder, and people have to borrow more to cover care costs or help their children financially.<p>The mortgage debts of over-65s are set to double over the next 13 …

Financial Conduct Authority

WesBank's Checklist for First-Time Car Buyers

<b>21 SEPTEMBER 2017:</b> Owning a car is one of life’s milestones, bringing consumers independence and freedom. However, buying a car can be a daunting …

Money

Western Asset Mortgage Capital declares $0.31 dividend

Western Asset Mortgage Capital (NYSE:WMC) declares $0.31/share quarterly dividend, in line with previous.<p>Forward yield 11.63%<p>Payable Oct. 26; for …

Business

Recent immigrant from India, 30, builds 'financial stability' in Canada

<b>Name:</b> Mathew Kuruvilla<b><br>Age:</b> 30<b><br>Annual income:</b> $90,000-$100,000<b><br>Household savings:</b> $50,000<b><br>Household debt:</b> $380,000 mortgage<b><br>What he does:</b> Medical professional<b><br>Where he lives:</b> Whitby, Ont.<b><br>Top financial concern:</b> "My wife and I, we want to gain financial stability. We don't believe in the posh lifestyle. …

Money

Fewer Tampa Bay homeowners are underwater on their mortgages

The percentage of Tampa Bay homeowners underwater on their mortgages continues to drop. In the second quarter of this year, 10.2 percent of borrowers …

Real Estate

National Bank of Canada faces website glitch: Bloomberg

(Reuters) - A glitch in National Bank of Canada's website may have exposed personal information of about 400 customers, Bloomberg reported, citing an email statement from the bank.<p>Some people filling out an electronic form on the bank's website could have seen data provided by a previous customer, …

Banking

Mortgage broker opens Dubai office amid surge in demand

Enness says it has seen a 31% growth in demand from GCC clients looking for UK property finance in the past six months

French Riviera

The latest retirement obstacle: Thirtysomethings are still living at home

The newest retirement savings challenge is the thirtysomething who still gets parental financial support.<p>In a recent survey done for a financial planning organization, 13 per cent of parents with children age 34 and older said their sons and daughters are financially dependent on them. Twelve per …

Parenting

M3 Mortgage Group acquires Verico to create $44B-loan giant amid market slowdown

Montreal-based M3 Mortgage Group, parent company of some of the most well known names in the residential mortgage sector, said Thursday it has added …

Canadian News

TD re-enters Japan with Tokyo fixed-income sales desk

Toronto-Dominion Bank, Canada's biggest bank by assets, is setting up a fixed-income sales desk in Tokyo, re-entering the Japanese market after six years, a spokeswoman said.<p>The move highlights the competitive pressures Canadian investment banks are facing from international rivals, which has …

Bay Street

Annaly Capital And Orchid Island Capital: MBS Pricing For Q3 2017 (Includes Current BV Projections)

From continued requests, this update article analyzes fixed-rate agency MBS price movements during Q3 2017 (through 9/15/2017).<p>Since most mREIT …

Business

builder’s dip into the red a painful lesson

The houses that contractor Derek Nicholson builds are not your everyday, cookie-cutter suburban homes.<p>His Toronto-based project management firm, Derek Nicholson Inc., works with well-known architects to build and renovate custom homes in the modern or contemporary style. They're the types of …

Business (Canada)

At midday: TSX rises as banks jump

Canada's main stock index inched higher on Thursday morning led by gains for heavyweight banking stocks.<p>Bank of Nova Scotia gained 1.5 per cent to $79.13, while Toronto-Dominion Bank, Canada's biggest bank by assets, rose 0.7 per cent to $69.02 after it re-entered the Japanese market with a …

Markets

Why You Shouldn’t Make a Big Down Payment On Your First Home

For decades, it was one of the few hard-and-fast rules when purchasing a home: Put 20% down. A hefty down payment would help you build up equity …

Home

Why You Should Pay Off These 3 Debts Before You Retire -- The Motley Fool

One of these debts is going to surprise you.<p>Retirement should be a time to kick back and relax, whether that means traveling the world or staying at …

Retirement

Mortgage rates resume climb after nearly two-month descent

After a descent that lasted nearly two months, mortgage rates have started climbing again.<p>According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average increased to 3.83 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the …

Economy

How a Smart Woman Buys a Home

Home-buying looks so simple on HGTV (make an offer, cut to commercial, and next thing you know, you’re covering your new walls with shiplap!). In reality, buying a home and getting a mortgage are serious financial commitments, so you’ll want a solid foundation.<p>Spend smartly on your home and you'll …

Money