Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents):
- Canadian Reverse Mortgage Rates Drop to Record Low (RATESDOTCA)
- Upfront rates are one thing. Renewal rates are another.
- BMO chief economist says “fiery demand” sets Canadian housing market into a “towering inferno” (The Georgia Straight)
- Sure Porter, upstage our nuclear meltdown metaphor with a “towering inferno” reference. It wasn’t even a good movie.
- How do fixed rates compare to variable rate mortgages? (Mortgage Broker News)
- Few first-time homebuyers have qualified for federal incentive (iPolitics)
- Heavens above. Who would’ve envisioned that a confusing, convoluted, expensive, restrictive, political scheme that does little to help buying power wouldn’t be flying off the shelves?
- Douglas Todd: Canadian real-estate market better for foreign investors than locals, admits housing secretary (Vancouver Sun)
I wonder Doug Ford just dumped a water bomber on that towering inferno. On one hand it’ll be harder to close on a mortgage to buy a house with most bank staff out of the office. On the other hand it’ll be hard to get a house listed, so supply may be negatively impacted.