EQUITY REFINANCE MORTGAGE LOANS CANADA BLOG http://equityrefinancemortgageloans.ca//EQUITYREFINANCEMORTGAGELOANSCANADABLOG.php The problem with using infrastructure to stimulate the economy 1/18/2016 8:01:21 AM The immediate boost to the economy from infrastructure stimulus spending is minimal, while the cost for any new jobs it creates can be huge

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Should my children withdraw from their RRSPs to buy a house? 1/16/2016 7:03:56 AM Question from Tony, 65, Calgary: My two children are planning to buy a house. They were preapproved for a mortgage loan of $520,000 at 2.64-per-cent interest, fixed for a term of five years. They are looking at buying a house costing about 600,000. For a down payment, is it advantageous to withdraw all their tax-free savings account and registered retirement savings plan investments to reduce their projected monthly payment of $2,464. It seems they wouldn’t like to touch their TFSA & RRSP investments.


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The close: TSX, Dow plummet as oil prices extend relentless dive 1/16/2016 7:00:16 AM A record losing streak in the loonie, plunging bond yields and about $150-billion wiped out in the stock market has left Canadian investors hanging by a thread. Panic is starting to set in.

“The word fear is finally starting to come up,” Martin Pelletier, managing director and portfolio manager at TriVest Wealth Counsel in Calgary, said. “Clients and people are starting to panic. It’s sinking in, but no one knows what to do.”



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What the Royal Bank of Canada mortgage rate uptick means 1/16/2016 2:32:31 AM Royal Bank of Canada rates on several of its mortgages are a little higher today. For instance, the special offer five-year fixed mortgage is up one-tenth of a point to 3.04 per cent.

To make sense of the changes, CBC News spoke by phone with Dan Eisner, the CEO of True North Mortgage. He was in Calgary.



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The lesson home buyers should take from RBC’s mortgage rate hike 1/16/2016 2:31:44 AM

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5 Downsides of a Reverse Mortgage 1/16/2016 2:30:57 AM reverse mortgage, is often used as a means of income for retirees. For those age 62 or older, these loans can provide guaranteed income during retirement (See also: 6 Ways to Guarantee Income in Retirement).


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Layoff insurance 'suitable for the times,' Edmonton business says 1/16/2016 2:28:41 AM

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Province didn't warn borrowers about problems with mortgage broker 1/16/2016 2:27:27 AM mortgage regulations in a review in the summer of 2014. 

But if you had looked on the Financial Services Commission of Ontario's website anytime before last month, you would see no sign that the province had concerns about the business. Khanna had assured them in fall 2014 all would be proper going forward.

A more extensive follow-up provincial review last fall raised allegations of hundreds more violations in Khanna's file and led to the December suspension.

But in the time between the two investigations and the order suspending his license — more than a year — potential customers may have been unaware there was anything to worry about.




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Mortgage broker commissions spark heated debate 1/16/2016 2:26:18 AM B.C.'s mortgage brokers are up in arms at a proposal by the province's financial institutions regulator to force them to disclose the exact amount of their commissions to clients.

The Financial Institutions Commission (FICOM) claims enhanced conflict-of-interest rules are needed to protect consumers in B.C.'s superheated real estate market.

But the proposal has sparked a fierce outcry from brokers who claim the move will play directly into the hands of banks which would like to portray the industry as a hidden cost to consumers.

"It's an un-level playing field," said Gary Mauris, president of Dominion Lending Centres.




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Sean Cooper pays off mortgage in 3 years and earns online hate 1/16/2016 2:24:52 AM When Sean Cooper burned his mortgage papers after going to extremes to pay off his house in three years, he never imagined it would get folks so fired up.

But after CBC News reported Cooper's story late last year, reader comments flooded the internet, either praising or reviling the 30-year-old's financial achievement.

"What is he going to do next, buy a car and sell one of his kidneys to pay for it?" snarled one reader.

An era of cheap interest rates has helped ignite an escalating and troubling household debt binge. The topic has become such a touchy one it can spark polarized opinions, finger pointing and even contempt.




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2015’s Effects Carry Over 1/16/2016 2:13:19 AM

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Mortgage Professionals Canada Gets New CEO 1/16/2016 2:12:51 AM Mortgage Professionals Canada announced today that, effective Monday, Paul Taylor will be its new CEO.

Taylor, 40, comes with ample organization experience. He was formerly the Director of Operations for the Insurance Brokers Association of Ontario (IBAO) for 5+ years, and in the association’s management for five years before that. Coincidentally, IBAO is the same group that former CAAMP CEO Jim Murphy moved to last July.



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December home data comes in 1/16/2016 2:11:11 AM
Buyers trying to get ahead of changing mortgage rules faced obstacles last month.

“An increasingly short supply of listings in Vancouver and Toronto blunted the impact of changes to mortgage regulations announced in December that were aimed at cooling these housing markets,” CREA President Pauline Aunger said in a release. “Buyers there had been expected to bring forward their purchase decisions before new regulations take effect in February 2016, but they faced a growing shortage of supply. Meanwhile, supply is ample in many other major urban markets, particularly those where buyers have become cautious amid economic uncertainty.”


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Broker miffed by rate shopping advice 1/16/2016 2:10:35 AM
“Want to save more than $53,000 on the purchase of a home? Then be prepared to comparison shop for the best mortgage rates and terms,” a recent MoneySense article reads. “According to a new RateHub.ca survey, consumers that shopped around for the best rates saved $53,089 (based on a $500,000 mortgage, amortized over 25 years)—the difference between a lender’s posted mortgage rate and the discount rate, over a five-year term.”


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Equitable adds online bank to lure deposits from Canadian rivals 1/16/2016 2:09:52 AM Equitable Bank, the Canadian alternative- mortgage provider, is jumping into the online banking business with a savings account that pays more than triple the interest rate of other branchless rivals.

Equitable started signing up customers this week for its EQ Bank, offering 3 percent interest on savings with no fees or minimum balance requirements. The account allows daily transactions including bill payments, e-transfers and moving money via computer or mobile phone.


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Another major bank joins chorus of economists predicting interest rate cut 1/16/2016 2:09:03 AM
The bank cited low oil prices and weakness in the Bank of Canada's recent business outlook survey among its reasons for its new forecast.


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BoC rate cut no panacea, warns economist 1/16/2016 2:08:30 AM  
Caranci emphasized that a rate adjustment won’t serve as a cure-all for the ailing economy. In fact, all signs currently point to Canadian markets underperforming in 2016, with real GDP growth now projected to be 1.5 per cent (against the Bank’s original 2 per cent target).


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Analysts: BoC needs to end its insular ‘black box’ policy 1/16/2016 2:07:43 AM  
Last January, Bank of Canada governor Stephen Poloz implemented cuts on interest rates, shocking the public who considered the move irrational.


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Hamilton housing sales to soar through 2016 1/16/2016 2:06:51 AM  
Figures from realtors’ organizations stated that as much as 16,000 properties have been sold in Hamilton and Burlington last year, amounting to around 9 per cent more homes sold between January and November 2015 than in the same period in 2014.


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Canadian housing industry posts healthy 2015 1/16/2016 2:05:43 AM  
2015 saw a solid pace of growth in most months, with the most significant numbers seen in high-demand locales such as Vancouver which boasted the greatest number of housing starts in over two decades.


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