Most of the major banks have announced mortgage rate increases, 5 year posted rate is now at 5.54%. That’s the one you have to get qualified on right?
Most other special and fixed rates at the banks were also going up between 0.10 and 0.15 percentage points. Fixed-rate mortgage rates are affected by the cost of borrowing in the bond market, where banks finance their home loan lending.
From the Globe and Mail.
on Big banks facing home credit risk@mac: @condo watcher: Wait! I don't think that was explanation enough for you. By PAST, I mean a few years on Big banks facing home credit risk@condo watcher: Relax! I'm not saying it's happening now. In THE PAST when the MARKET WAS HOT, there were many
on Big banks facing home credit risk@mAC HOW DO YOU GET A SALES TO LIST FIGURE OF 115%--are they selling stuff that's not even on the
on Big banks facing home credit riskHopefully this time it works. Copied from PaulB’s number http://www.laurenandpaul.ca Using good-format’s format. Date Listing Price(+-) Sold Inv Inv(+-) S/L(%) on Big banks facing home credit risk Sorry for the previous post. I seem to have lost my PRE tag "touch". 
July 7th, 2011 at 9:09 am
@space889:
I mean when your ancestors came, Canada didn’t have things like must have English or French, must have this number of points and such requirement. It work well didn’t it? Why not do it again except instead of Europe, this time do it with Asia?
——–
dude, in the 1880s they were even racist towards different kinds of whites. if you were irish or ukranian or even german you had to fight for respect.
it sounds like you want an open door.
July 7th, 2011 at 9:07 am
@Troll:
chinese trolls are not very sophisticated – all bluster no irony
July 7th, 2011 at 9:06 am
@space889:
Since China is such a shithole with so many poor people there wanting a good life that they can never have, why not spread some of that famous Canadian values and compassion and let those poor hard working people come to Canada to build a better life like your ancestors did all 50, 100, 200 years ago?
because when 2 million irish and scottish immigrants came here in the 1860s-1880s
that was like 50% of their national populations.
there are 700 million chinese living on <$1000 a year.
if you like canada, you have to restrict membership, sorry.
July 7th, 2011 at 8:08 am
@space889:
see you're getting all sensitive
look at it objectively:
"japan, at the height of it's boom, only invested 35% of it's GDP in infrastructure – china is at 70%"
and it's local party member corruption
we're not slagging chinese people, we're slagging the party
it's up to YOU to tell your family what we've told you. now go and topple that entity.
July 7th, 2011 at 6:57 am
#106,
sound like you are jealous of your rich sister. suck to be you!
July 7th, 2011 at 6:02 am
#106 @Patiently Waiting: There's nothing to be gained by saying anything. They're all committed to the plan, and it makes sense to them. It's not a bad idea in general, although bringing housing into it is weird.
People like spending time with their grandkids. And older people make good babysitters because they often place fewer unrealistic expectations on their time, and on the kids. And they have a different (probably better) perspective on life as well. Not so wrapped up on the small (adult) things, which are completely irrelevant to kids. Can be more engaged in the small things that ARE relevant to kids. There is a world of difference between that and a typical babysitter.
July 7th, 2011 at 2:22 am
@space889: Here's a tip from a Troll. If you want to troll you need to keep your posts shorter, nobody wants to read a 4 page diatribe. Keep it short. Nice anger though.
July 7th, 2011 at 1:57 am
@Best place on meth: What you did is equivalent of visiting Vancouver with a preconceived notion of what it is, stayed in a SRO in DTES for a few months and never venture outside of it, and then go home proclaim Vancouver is exactly as you thought it is, a shithole that's the den of human misery. All that gleaming glass towers a few blocks down in Vancouver downtown? That's nothing more than a fascade put on by Vancouver to showcase what a great city it is even though it really is just a piece of shit city.
You are absolutely right, I am an idiot who blabs and flab garbage and don't know what I'm talking about. I had thought Canadians with an university education can actually think critically, go check out something with an open eye and mind, left preconcieved notions and racism behind, see what tremendous progress have been made and how much there is left to do. Analyze the situation from multiple points of views, see the big pictures, where the big problems are, where the opportunties are, and make the best of situation for the most number of people.
Anyways, I should thank you and other posters on this forum for opening my eyes to see what Canadians really think of China and the Chinese people. I will always, always, remember this in all my future deals with Canada and Canadians.
Before I leave, I will just make two suggestions.
1 – People keeps complaining about corruption money and scums coming to Canada with their ill gotten gains from China? I say the best way is simply to ban all immigration from China and HK, including foreign exchange and English students. Just limiting investor immigration program is not enough as people can easily get around that by putting their kids and wife here, plunk down $2M+ for a house and another $100K for that luxury vehicle. Just ban all immigration from China or only accept people with skills but no money and all the problem with scum and corruption money are solve. Plus all those poor people in China will thank you since you just make it much harder for corrupt officials to leave the country.
2 – Since China is such a shithole with so many poor people there wanting a good life that they can never have, why not spread some of that famous Canadian values and compassion and let those poor hard working people come to Canada to build a better life like your ancestors did all 50, 100, 200 years ago? Get rid of those points requirements and such, and just let them in as long as they are hard working and want to build a better life. I mean when your ancestors came, Canada didn't have things like must have English or French, must have this number of points and such requirement. It work well didn't it? Why not do it again except instead of Europe, this time do it with Asia?
July 7th, 2011 at 1:48 am
If you are a native Vancouverite, you can never escape the real estate insanity even if you opt-out yourself. I'm steaming mad right now.
My sister and BIL just bought a more expensive house. From what I understand, their mortgage jumped from a managable quarter million to a more difficult half million. They are both quite successful so I thought nothing at first. They also have two young children, aged three and one.
I recently just got a panicked call from my 65-ish Mom. She needed me to come over to watch the kids because my 65-ish Dad had a medical appointment (I'm on vacation, so she knew I was available).
Uhhhh, why are my parents taking care of my rich sister's children? I don't know how much FREE babysitting their doing, but it is up to 20 hours a week from the sounds of it. So I asked my Mom why my darling sister doesn't hire a babysitter. Mom says she doesn't want my darling sister to get an even BIGGER mortgage.
At this point, I'm trying to figure a way to intervene that doesn't get me hated by anyone (up til now I've always been on good terms with sis and love my niece and nephew). I don't know if that's possible.
I'm now more serious about leaving this city again. FFS.
July 7th, 2011 at 1:43 am
New post
July 7th, 2011 at 1:41 am
@YLTN @ Work: Hmmm and where do you think the money and resources will come from to feed the people and provide plumbing if China stuck to dirty highways and rundown roads instead of building state of the art infrastructures that provide jobs to tens of millions of migrant workers, allow for easier transportatino of goods across the country, boosting economic competitiveness, etc? Without sacrificing and investing the money in modern infrastructure how can China hope to grow its economy the way it has over the last 3 decades which in turn generates the money and job opportunities for the rural workers who turns around and spend the money in their home village to build better housing and such?
Oh wait, I forgot, China should have just stuck to the agarian economy and providing cheap slave labour for the West, be glad with their lot in life and whatever scrap the West decides to throw their way, and always be happy and smiling at all the scorn, criticism, and BS the West heaps on it whenever it like. Yeah, that's the way to improve their standard of living. Not building modern infrastructure, attracts investments, provide job opportunities, move up the value chain, generate wealth but just simply listen and obey commands from Westerners.
July 7th, 2011 at 1:15 am
So today we see Royal LePage claim the housing market has peaked – a story picked up by every mainstream media news outlet in the country. Just a few days ago, we see those very same mainstream media headlines scream the word "bubble." Just a few weeks ago, Flaherty stopped just short of uttering the dreaded bubble word while warning once again that Canadians are hopelessly in debt. And just after that, we see changes to the immigrant investor program. In the meantime, the Richmond epicenter has substanitally cooled (in excess of 2100 listings at the moment), the greater Vancouver periphery has cracks the size of the Grand Canyon, and we haven't heard from hell's own realtor, Cam Good, in what seems like forever.
Throw into the mix Tuesday's mortgage rate increases – minor though they were – and Paul B's recent numbers, and you can't help but think the message is hitting home with average folk. People buy homes not just for stability and "lifestyle," but mostly because they're supposedly good investments. Who in their right mind can say the latter is true?
July 7th, 2011 at 1:04 am
@VanRant:
Wish Carney had the stones to do it too. Our economy is in better shape than Europe's so what excuse does he have now?
July 7th, 2011 at 12:40 am
ECB raised interest rates by .25 this morn!