Tag Archives: scotiabank

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Friday Free-for-all! June 3rd 2016

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206 Comments

Yep, it’s another one.

As we wind down the work week and head into another weekend it’s time for another Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread.

Here are a few recent links to kick off the chat:

–Drastic measures to slow market?
–Taxpayers send realtors on trip?
–Dirt earns more than all workers
–Houses hit all time high
–Bubble Timeline
–Replace income tax with property tax
–Scotiabank concern over Vancouver & Toronto
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So what are you seeing out there? Going to any open houses this weekend?  Post your news links, thoughts and anecdotes here and have an excellent weekend!

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FFFA! End of boom, TFW, Teranet, Banks

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175 Comments

It’s the end of another week!

That means it’s time for another Friday Free-for-all. This is our news round up and open topic discussion thread for the long weekend.  Here are a few links to kick off the chat:

–Scotiabank: bubble warning
–BMO: bubble warning
–TD Bank: bubble warning
–RBC: bubble warning
–CIBC: data warning
–Pimco: bubble warning
–Teranet stays flat in march
–Open houses – true or false?
–Import workers for $11/hour?
–More complaints over TFW
–Ka-shing dumps china property
–New Zealand targets affordability
–Sunshine coast sales challenge
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So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Canada, mortgage, rates

Scotiabank ends 2.99 mortgage deal early, more tightening on the way?

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43 Comments

Wow, it seems like it was just a few days ago we were talking about newly introduced teaser-level mortgage rates offered by Canadian banks.

… oh, it was just a few days ago.

BMO kicked off the competition and TD, Scotia and CIBC jumped in with competing lowball offers.

Well it looks like Scotiabank blinked first.  Their special offer didn’t even last a week.  Canadian Mortgage Trends is reporting that Scotiabank has pulled their special offer for a 2.99% rate.  Guess we’ll have to wait to see if the other banks will follow.

And speaking of mortgages, Canadian Mortgage Trends also has some interesting analysis of the OSFI recommendations for underwriting practices and how it’s about to lead to mortgages that are a bit tougher to get.

After reading through 18 pages of changes in detail, our immediate reaction was frankly, concern.

That’s not because the guidelines are greatly imprudent. Some are unnecessarily rigid, but most are sound policy.

It’s because OSFI risks tightening too much, too fast.