The Canadian Imperial Bank of Commerce recently released its Household Credit Analysis report, which shows the rate of mortgage delinquency across the country is just 0.4 percent.
In a speech to the Mortgage Brokers Association on May 7, Bank of Canada deputy governor John Murray revealed some of the thinking behind his organization’s decision to keep interest and mortgage rates low.
April weather has been a mixed bag across much of Canada, but as May arrives and spring firmly takes hold, things appear to be settling down. Not so in the economy and housing market, unfortunately.
Fewer Canadians living abroad are choosing to buy property in the United States, with many opting to rent before taking the purchasing plunge, according to recent data from BMO Financial Group. But new information indicates that it may be better to buy.