tag:blogger.com,1999:blog-31427364.post1024980196704564213..comments2024-03-26T03:52:23.395-07:00Comments on Housing Analysis: RBC, Scotiabank lift benchmark mortgage rate to 6.1%mohicanhttp://www.blogger.com/profile/06094213357140749289noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-31427364.post-50306970160945019072010-04-15T00:53:43.088-07:002010-04-15T00:53:43.088-07:00The swiftness of the bond market is truely amazing...The swiftness of the bond market is truely amazing.<br /><br />What is very concerning is that credit prices are moving up on outstanding debt but the govn't is decreasing spending and increasing the consumers tax liability so the equation won't balance. I wonder where the money will come from?buff_butlerhttps://www.blogger.com/profile/13312280863888753900noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-53162222091582581192010-04-14T12:43:32.402-07:002010-04-14T12:43:32.402-07:00Tony - CMHC continues to insure the mortgage for t...Tony - CMHC continues to insure the mortgage for the entire amortization, regardless of term, amount or current Loan To Value ratio.<br /><br />All of the other banks have now followed with this rate increase. <br /><br />There is no escaping the bond market.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-7918617817068569462010-04-14T11:53:27.820-07:002010-04-14T11:53:27.820-07:00Does anyone know if the new CMHC rules will apply ...Does anyone know if the new CMHC rules will apply to current homeowners with a CMHC mortgage when their current term expires or are they covered by CMHC regardless for the amortization of the mortgage?<br /><br />I also thought that CMHC wouldn't continue insuring a mortgage that was underwater by a certain % when the current term expires. Can anyone set me straight?Tony Danzahttps://www.blogger.com/profile/11834617529220173312noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-27385109841523196852010-04-14T11:36:32.076-07:002010-04-14T11:36:32.076-07:00But...according to the guy from SFU they interview...But...according to the guy from SFU they interviewed on CBC last night, house prices will NOT go down even with increased interest rates. Why not? Because the economy is in "recovery" so we're all making buckets of money and can apparently afford to pay more and more for houses. <br />I guess he's never seen the Debt to Income graph that shows we're all in huge amounts of debt.pricedoutfornowhttps://www.blogger.com/profile/09716669832448694904noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-60094818761595103982010-04-14T11:33:33.300-07:002010-04-14T11:33:33.300-07:00Actually, the market started to level off when pot...Actually, the market started to level off when potential buyers started to realize that last years price gains had caught enough to cancel out those low rates.<br /><br />The 2007 correction that was interrupted by those crazy low rates is about to resume bigtime as potential sellers are not quite as blind as the few remaining greater fools.macho slobhttps://www.blogger.com/profile/15640891497806482996noreply@blogger.comtag:blogger.com,1999:blog-31427364.post-57159020528968450922010-04-14T11:06:57.602-07:002010-04-14T11:06:57.602-07:00Higher mortgage rates are going to kill the real e...Higher mortgage rates are going to kill the real estate market. The buyers I know who have bought recently are only squeaking into the market at their maximum mortgage approval. A difference of only 50 basis points puts them out of the market to purchase a house.mohicanhttps://www.blogger.com/profile/06094213357140749289noreply@blogger.com