Canadian Mortgage Broker News - Housing bubble seeds in place, says Merrill Lynch economist

Canadian Mortgage Broker News - Housing bubble seeds in place, says Merrill Lynch economist

Twitter vs. Blogs

I am trying to keep up with the times.
I have started a Twitter at
twitter.com/davidcooke1 where I make up to the minute announcements about rate changes and
mortgage related news.
However, I find that 140 characters is limiting and a blog allows space to properly explain concepts and ideas.
What do you prefer? Blogs or Tweets?

US style housing bubble unlikely

Benjamin Tal, senior economist with CIBC stated today that we are unlikely to see a US style housing bubble. We do not have the debt loads that Americans had in 2006 and 2007 leading up to the recession. You also have to keep in mind that they were finaincing at up to 120% of the value of the home.
for more information visit my website at http://mortgagealliance.ca/davidcooke

to see the whole article
http://bit.ly/7eMvX6

The gap between Variable and Fixed rates shortens

Here's an article on variable vs. fixed rates

http://tinyurl.com/yhf9nv4

Call me to discuss what's best for you .

Bank of Canada pressured to raise rates

The Bank of Canada appears to be under pressure to increase interest rates sooner rather than later due to increasing housing prices causing inflation. The central bank of Australia raised their rates last week. Norway is considering raising rates due to higher housing prices this week. For further information see the attached article

http://tinyurl.com/yzmybul

TD's Weekly Outlook

The highlights of today's outlook from TD include:

Australia's central bank raised interest rates this week. They were the first of the G20 countries to do so.
The European Central Bank has maintained its interest rates as it does not see a recovery yet.

Canada's recovery could be hindered by the high Loonie vs. the US dollar.

http://tinyurl.com/yzv98pk

Edmonton Housing starts up from 2008

http://tinyurl.com/yfj4q4b

First time homebuyers

Today I found an article on first time homebuyers. It confirmed that banks won't give you the best rates. Call a mortgage consultant first and save yourself the grief.
http://tgam.ca/BQM (via @globeandmail) less than 5 seconds ago from web

Rates going down again

I have been reading the rate sheets my lenders send me. Variable rate mortgages are dropping again. Last week I went to see Benjamin Tal, chief economist for CIBC World Markets.
He feels that the 5 year fixed rates will start to go up in the new year. Now is a great time to get a pre-approval and lock those rates in.
Call me for a pre-approval at 403-836-1201