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Mortgage Trends
Mortgage rates hit the basement! Canadians thinking of purchasing a home, just got a compelling reason to do so - the lowest interest rate in history.  With rates as low as 2.99% fixed for five years!  These rate reductions will help boost the spring market.Buyer clients call Sukhpal Singh,Realtor to begin the Qualifying process and begin your journey to home Ownership!! Economists are paid handsomely to tell us where interest rates are headed. They have access to every data source, academic study, historical backtest, and analysis tool imaginable. So if you're creating amortization models based on future rate forecasts, the estimates of bank economists can be a useful guide. read more...
Trends:Real Estate
Trends in United States Housing Market read more...
Consumer Confidence-Average/Recent Canada
http://www.economywatch.com/consumer-confidence-index/world-wide/ read more...
Consumer Confidence-Back in Action(USA)
http://rismedia.com/2011-11-29/back-in-action-consumer-confidence-on-the-rise/ read more...
Federal Govt. Changes Mortgage rules effective on & after April19,2010 (OFFERS)
February 16, 2010 -- The federal government has announced changes to the rules for government-backed insured mortgages (less than 20 percent down payment) as follows: 1.All borrowers will be required to meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter terms. 2.Reduced maximum amount that can be withdrawn in refinancing a government-backed insured mortgage to 90 per cent from 95 per cent of the value of the home. 3.Require a minimum down payment of 20 per cent for government-backed mortgage insurance on non-owner occupied properties purchased for speculation. NOTE: Borrowers purchasing owner-occupied residential properties will still be able to access government-backed mortgage with a 5 per cent down payment. read more...
Mortgage Jobs
Mortgage Jobs in Mortgage Industry read more...
Federal Government Changes Mortgage Financing Rules-Jan 17, 2011
January 17, 2011 -- The federal government has announced changes to mortgage financing rules for government-backed (insured) mortgages (less than 20 per cent down payment), which will affect maximum amortization periods, mortgage refinancing, and home equity lines of credit. Details The changes announced by the federal government include: Reducing maximum amortization period to 30 years, from 35 years. Lower the maximum amount Canadians can borrow in refinancing their mortgages to 85 percent, from 90 percent, of the value of their homes. Withdraw government insurance backing on lines of credit secured by homes, such as home equity lines of credit. This change would apply to Home Equity Lines of Credit that do not amortize over time (i.e. borrowers are not required to make regular payments on the principal amount of the loan). However, with established scheduled principal and interest payments, a loan will continue to be eligible for government-backed insurance, provided it meets the underwriting standards set by the mortgage insurer. The changes to amortization periods and refinancing rules will come into force on March 18, 2011. The withdrawal of government insurance backing on home equity lines of credit will come into force on April 18, 2011. Exceptions would be allowed after the new measures come into force where they are needed to satisfy a binding purchase and sale, financing or refinancing agreement entered into before the corresponding coming into force dates. ...
 

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Yahoo! News: Top Stories
GOP critics hit Obama's $3.8 trillion budget (AP) business2/14/2012 12:48 PM

Treasury Secretary Timothy Geithner testifies on Capitol Hill in Washington, Tuesday, Feb. 14, 2012, before the Senate Finance Committee hearing on President Barack Obama's fiscal 2013 federal budget.   (AP Photo/J. Scott Applewhite)AP - Treasury Secretary Timothy Geithner told Congress Tuesday that the president's new $3.8 trillion spending plan would impose new taxes on only 2 percent of the nation's wealthiest families and the alternative would be to seek more painful cuts in other government programs such as defense, Social Security and Medicare.


Blast in Bangkok linked to Iran, Israel says (AP) us2/14/2012 1:41 PM

A Thai Explosive Ordnance Disposal (EOD) official makes a check on a backpack that was left on the bomb site by a suspect bomber in Bangkok, Thailand Tuesday, Feb. 14, 2012.  Two explosions boomed through a busy neighborhood in the Thai capital Tuesday, police said, but it was not immediately clear what caused the blasts or whether there were any fatalities. (AP Photo/Apichart Weerawong)AP - A wounded Iranian fleeing an unintended explosion at a house threw a grenade at Bangkok police that instead blew off one of his legs in a series of blasts Tuesday that Israel's defense minister called an "attempted terrorist attack" by Iran. The violence came a day after Israel blamed Tehran for targeting its diplomats with bombs in India and Georgia.


Obama: Strong US-China ties help rest of the world (AP) politics2/14/2012 1:28 PM

President Barack Obama meets with Chinese Vice President Xi Jinping, Tuesday, Feb., 14, 2012, in the Oval Office of the White House in Washington.  (AP Photo/Susan Walsh)AP - China's heir apparent leader is defending his county's widely criticized human rights record but acknowledging there is room for improvement.


New setback for Greece bailout as meeting canceled (AP) business2/14/2012 1:00 PM

A pensioner shouts slogans during a protest against the Greek government's planned pension cut, outside Labor Ministry in Athens, on Tuesday, Feb. 14, 2012. The struggling eurozone country has been shut out of long-term debt markets since 2010, and is surviving on rescue loans from European Union countries and the International Monetary Fund. But harsh austerity measures demanded in return for the emergency loans have hammered the economy. (AP Photo/Thanassis Stavrakis)AP - Two steps forward, one step back. So goes the frenzied effort across Europe to bail out Greece and save it from a potentially devastating default on its debts.


Rome's 2020 Olympic bid scrapped by Premier Monti (AP) sports2/14/2012 12:42 PM

Italian Premier Mario Monti gestures during a cabinet meeting in Rome Tuesday, Feb. 14, 2012. Premier Monti has scrapped Rome's bid for the 2020 Olympics, saying the government can't supply the required financial backing at a time of financial crisis. Premier Mario Monti announced after a Cabinet meeting Tuesday that it would be an irresponsible use of taxpayer money to fund the Olympic project. Costs for hosting the Olympics in Rome are estimated at $12.5 billion. The decision came a day before the deadline for formal submission of bid files to the International Olympic Committee. The IOC requires government financial guarantees. Rome was the first of six cities to submit a bid for the 2020 Games. The others are Baku, Azerbaijan; Doha, Qatar; Istanbul; Madrid; and Tokyo. The IOC will select the host city in 2013. (AP Photo/Roberto Monaldo, LaPresse) ITALY OUTAP - Rome dropped its bid for the 2020 Olympics on Tuesday after Premier Mario Monti said the Italian government would not provide financial backing for an estimated $12.5-billion project at a time of economic crisis.


Agent: Informant in militia case got about $31K (AP) us2/14/2012 1:46 PM

ADDS INFORMATION THAT ONE OF THE PEOPLE SHOWN IS NOT GOING ON TRIAL --This combo of eight photos provided by the U.S. Marshals Service on Monday March 29, 2010 shows from top left, David Brian Stone Sr., 44, of Clayton, Mich,; David Brian Stone Jr. of Adrian, Mich,; Jacob Ward, 33, of Huron, Ohio; Tina Mae Stone and bottom row from left, Michael David Meeks,  40, of Manchester, Mich,; Kristopher T. Sickles, 27, of Sandusky, Ohio; Joshua John Clough, 28, of Blissfield, Mich.; and Thomas William Piatek, 46, of Whiting, Ind., suspects tied to Hutaree, a Christian militia. Jury selection is getting under way in Detroit federal court Tuesday, Feb. 7, 2012, nearly two years after the dramatic arrest of people who authorities say belonged to a southern Michigan militia with a goal of rebelling against the government. The trial is expected to last weeks. It involves seven of the nine people charged with belonging to a group called Hutaree. The government says they conspired to try to kill a police officer and plotted further strikes. No one was ever attacked, and the defendants say they're being prosecuted for saying stupid things.   Joshua Clough, bottom row second from right,  is the only defendant to make a deal with prosecutors and could be called as a witness to testify against the Hutaree.  (AP Photo/U.S. Marshall)AP - An FBI agent says an undercover informant was paid about $31,000 in cash for his critical role in the investigation of a Midwest militia.


Mormons apologize for posthumous Jewish baptism (AP) us2/14/2012 1:00 PM
AP - Mormon church leaders have apologized to the family of Holocaust survivor and Jewish rights advocate Simon Wiesenthal after his parents were posthumously baptized in a Mormon temple ritual last month.
Private funeral for Houston set for Saturday in NJ (AP) entertainment2/14/2012 1:54 PM

In this file photo of Sunday, Feb. 12, 2012, flowers and a card hang on a fence in front of New Hope Baptist Church in Newark, N.J. Whitney Houston's funeral will be held Saturday, Feb. 18 at the church where she sang in the choir as a girl. Houston, who ruled as pop music's queen until her majestic voice and regal image were ravaged by drug use, erratic behavior and a tumultuous marriage to singer Bobby Brown, died Saturday. She was 48.  (AP Photo/Mel Evans, file)AP - Whitney Houston's funeral will be held Saturday in the church where she first showcased her singing talents as a child, her family choosing to remember her in a private service rather than in a large event at an arena.


Justice delayed for Peru sterilization victims (AP) world2/14/2012 12:04 PM

In this photo taken on Nov. 22, 2011, Cuzco Congresswoman Hilaria Supa, left, speaks with Serafina Illa, center, and Aurelia Paccohuanca after an interview in Lima, Peru.  Illa and Paccohuanca were victims of forced sterilization during a 1995-2000 program created by then-President Alberto Fujimori to dramatically lower Peru's birth rate. Paccohuanca now heads the Association of Women Affected by Forced Sterilization in Cuzco. (AP Photo/Martin Mejia)AP - It was 1996 when Micaela Flores and 15 other women from Peru's highlands accepted an ambulance ride to a Cuzco clinic, lured by the offer of a free medical checkup.


Regis Philbin to guest star on 'Hot in Cleveland' (AP) entertainment2/14/2012 2:00 PM

In this Oct. 28, 2011 photo, long-time talk show host Regis Philbin gestures during a broadcast of 'Live! with Regis and Kelly', in New York. Philbin, along with Joan Rivers, Rhea Perlman and Kevin Nealon will be guest-starring on the TV Land series, 'Hot in Cleveland.'  (AP Photo/Charles Sykes)AP - Regis Philbin might no longer be a staple on morning television, but he'll soon appear in primetime on "Hot in Cleveland."


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