This Just in : BMO Economics Survey Results
The BMO Bank of Montreal survey found that while most Canadian households could survive a stress-test against the possibility of rising interest rates, one in five said a two-percentage-point rise in rates would hamper their ability to afford their home and a further 20 per cent said they didn’t know. In B.C., where Vancouver is [...]
Say goodbye to mortgage penalty secrecy
Ottawa is tackling what the Globe and Mail calls, “three irritating bank practices,” one of which involves the secrecy that often surrounds mortgage penalties. Also, the government will take on the holding period for newly deposited cheques and credit card convenience cheques. For more information on the changes being made to mortgage penalties, read an [...]
