mortgage

Banks Ignore The Bank of Canada

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BOC
If a Central Bank lowers rates do the countries banks listen? Yesterday the Bank of Canada lowered their target rate by 0.25% signaling their concern for the Canadian economy going forward. Historically the major banks in Canada would drop their Prime Rate by the same amount as the Bank of Canada. This change would usually be announced on the same day as the Bank of Canada announcement and be effective the following business day. Yesterday, TD Canada Trust announced that they would no...
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Divorce…the seven letter word that feels like a four letter word!

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So you’ve come to the point in your life where you are one of the statistics; you’re getting divorced. Divorce is never easy but with the right attitude, and some planning, you can minimize the stress and pain it inflicts on you and your family. Debbie Shawn of Divorce Matters suggests that the most important piece of advice she can offer is to remember that while you may be ending your marriage it is virtually impossible to end the relationship with your spouse. There will always be mome...
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The Times They Have Changed

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A decade ago money seemed to be falling from trees. If you had a pulse and could fog a mirror you could qualify for a mortgage in North America. The US housing market was booming and Canada was following in its footsteps. American lenders were in Canada growing their subprime mortgage business and the big banks were extending amortization periods and actively growing their portfolios with folks who could not prove their income. A decade later, the US housing market has imploded on itself ...
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