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April 19, 2014
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Why BMOs rate cut is good news for everyone - Monday, March 31, 2014
Last week BMO announced a cut to its 5-year fixed mortgage rate to 2.99%. This really isn't a surprise since this is the third Spring in a row that the banks have been cutting fixed rates as a way to kick start the lending season. In both 2012 and 2013, then Minster of Finance quickly spoke against the move. This time, however, we have a new Mi ...
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Gen-Yers and home ownership - Friday, March 21, 2014
There are nine million Gen-Yers or "millennials" in Canada, many of whom are financially savvy, have control of their money, take a long-term approach when investing and are keen to own their own homes.  Despite high student loans to repay and fewer job opportunities, millennials are thinking about money in very different ways than the ...
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TMG The Mortgage Group Executives Make Hot List for 2014 - Wednesday, March 12, 2014
TMG The Mortgage Group's President and Vice-President of Sales in Alberta have been named to Canadian Mortgage Professional's 2014 Hot List. We are pleased to announce that Mark Kerzner, President of TMG The Mortgage Group and Gord Appel, Vice-President and Broker of Record for Alberta, have both  been named to Canadian Mortgage Profes ...
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Housing collapse? What housing collapse? - Monday, March 03, 2014
Bad news trumps good nearly every time in the media, especially in the financial media. Interest rates are going up, interest rates are getting cut. Consumers are in trouble with too much debt, consumers can handle their debts. We're in a recession, were in a depression, we're fine. There's the housing bubble that never happened, but so ...
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TMG The Mortgage Group focuses on expansion with three new appointments - Friday, February 14, 2014
TMG The Mortgage Group Canada Inc. is pleased to announce the addition of Andrew Matheson, Steve Clarke and Andy Vickers to its management team.  Bolstering the sales capacity in Atlantic Canada, Ontario and British Columbia, these appointments are part of the company's focus on continued growth and market momentum.Andrew ...
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The Volatile Jobs Market - Tuesday, February 11, 2014
In December, 2013, the economy lost 45,900 jobs instead of gaining what economists projected would be 14,000 jobs.  The unemployment rate rose to 7.2 per cent from 6.9 per cent in November and the dollar started to tank.Then Statistics Canada reported on February 7, 2014 that the Canadian economy added 29,400 jobs in January and the unemployme ...
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Lower loonie may not be so bad - Monday, January 27, 2014
A devalued loonie, coupled with low inflation, comes talk that the Bank of Canada (BoC) might consider cutting its overnight lending rate. The Canadian dollar hit its lowest level in three years last week, falling to 90 cents and the first time it has closed below 94 cents since June 2010. Could the BoC cut its rate to lower than the 1% it' ...
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Mortgage stats and you - Wednesday, December 04, 2013
Amortizations are falling, rate discounts are increasing and consumers have flocked to fixed rates. Those are a few of the trends found in the Canadian Association for Accredited Mortgage Broker's (CAAMP)  Annual State of the Residential Mortgage Market report. At the same time the Canadian Real Estate Association (CREA) has also revi ...
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Good news for interest rates - Monday, November 04, 2013
There's good news on the interest rate front. In the Bank of Canada's (BoC) most recent announcement it maintained its prime rate at 1%, however with one slight difference. Since 2012, the BoC's report has included a tightening bias, warning Canadians that rates would soon rise. That bias was removed from BoC Governor S ...
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The U.S debt ceiling and Canada - Wednesday, October 16, 2013
There's lots of talk south of the border as the deadline to raise the debt ceiling looms. Many Canadians are scratching their heads wondering what the heck it all means and should it matter to us. It's a good question but the answer is complicated. Raising the debt ceiling allows the U.S Treasury to borrow more money to fun ...
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Can you afford to buy a house? - Wednesday, September 11, 2013
With rising interest rates, overvalued real estate and a lackluster economy, are first time home buyers and average income households being priced out of the housing market. Perhaps. Now that five-year fixed rates have increased two-thirds of a percentage point or more - up from 2.89% to 3.79% -- in the past month, first time buyers may find their ...
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Rising interest rates and your mortgage - Friday, August 30, 2013
Over the past few years it seemed every expert was telling us that interest rates would be rising, but after years of record low fixed rates, I think many of us stopped believing the headlines.  With bond prices dropping and yields on the rise, those rates (fixed-rate mortgages) that are tied to bond yields have shown dramatic movement over th ...
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What's happening with interest rates? - Monday, August 26, 2013
Interest rates are on the rise.The Big banks have been inching up their rates since May, but have now moved quickly to 5-year fixed rates ranging from 3.79% or 3.89%, which is a 60 basis point hike from what they were six months ago.  The 5 year bond yields have themselves increased by 80+ basis points since the Spring. However, variable mortg ...
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Housing market breathes again - Thursday, August 22, 2013
After months of somewhat depressing news for the housing industry, Canada's housing market is showing signs of life. The buzz now is about a soft landing rather than a bubble bursting. Demand has increased in most parts of the country and new construction activity is increasing. Home prices are rising as well.Despite warnings from analysts abou ...
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Renegotiating your mortgage agreement - Tuesday, July 23, 2013
It's a familiar story. You buy a house and lock into an interest rate for a five-year mortgage term. Then something changes in your life midway through the term and the current mortgage doesn't meet your needs. Or mortgage rates have gone down substantially and you would like some interest rate relief, so y ...
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