They expect to get a year-end bonus this holiday season
Nearly half of Canadians (46%) intend to buy a property within the next five years – Metro Vancouver Real Estate Update 2012
BMO Introduces Housing Confidence Report
There has been a lot of mortgage news recently as the Big Banks fight for market share with record-low mortgage rates.
The rate wars are over. Oops. Better hold that thought
Last month, the Bank of Montreal, in an attempt to gain market share during the slower winter housing months, surprised the mortgage industry by introducing a posted 2.99% 5-year fixed rate mortgage to the marketplace.
Some Canadian banks are hiking their variable mortgage rates, seeking to pump up its profit margins as it becomes evident that interest rates will remain low for some time to come.
Canadians have become more inclined in recent years to put money in investments that guarantee a return, even if it is small, as opposed to risky investments with higher upside potential, a new survey shows.
Economists were polishing their crystal balls this week and trying to peer into the future to see what next year’s real estate market will be like, with predictions varying widely.
The Bank of Montreal cut its special five-year fixed rate mortgage by 20 basis points Wednesday, bringing it down to 3.59% from 3.79%.
BMO said in a statement that the move was an effort to provide potential home buyers an incentive as the fall season rolls around.