Here’s a daily helping of fresh Canadian mortgage news (the italics are the Spy’s 2 cents).
Reader note: RateSpy’s mortgage news is now at → RATESDOTCA.
- New First Time Home Buyer Incentive On Deck (RATESDOTCA)
- Proposed mortgage rule change likely to sow more anxiety than cool prices (Edmonton Journal)
- A similar change to insured mortgages would pack a bigger punch. And industry execs we speak with say that is not unlikely.
- Tiff Macklem eyes the other side of the crisis: balancing inflation risk with an inclusive recovery (The Globe & Mail – Subscription)
- Drummond: “…The longer we hammer savers and incent borrowers, the worse…imbalances are going to be.” Not that the BoC had a choice…up till this point.
- Tighter mortgage standards, blind bidding ban may be needed to slow housing market: National Bank of Canada CEO (Financial Post – Subscription)
- Vachon wants public consultations on making the real estate offer process more transparent. But ultimately, if buyers really want a home and must compete for it, they’ll pay as much as they can afford regardless.
- Toronto real estate experts call for an end to blind bidding and deception (NOW Toronto)
- Open auctions sometimes result in higher sale prices than blind bidding because no buyers “get lucky.”
- Sold over asking: Why homes are being sold for far more than their listing price (Financial Post – Subscription)
- Yet another blind bidding article. Sense a trend? BTW, did you know the 5% rule Haider references in this article?
- Canada braces for a hit to GDP as third wave rages (Financial Post – Subscription)
- The fixed-rate leading 5-year bond yield doesn’t care.
- Which is the best bank in Canada? Forbes has the answer… (Mortgage Broker News)
- Analyst: Economy’s dependence on housing activity poses grave risks (Mortgage Broker News)
- Fed to taper bond buying in fourth quarter, economists say (BNN Bloomberg)
- Somewhat bullish for fixed rates (even in Canada) if it happens.