Category Archives: Canada

Thomas Sowell’s New Book: The Housing Boom and Bust

Check out the book on Amazon.com. Economist Thomas Sowell appeared on Dennis Prager’s radio show May 27: Tom: If the results weren’t so serious, all this would make a great Gilbert & Sullivan musical, with all the mutually contradictory statements … Continue reading

Posted in Bad Credit, bank of america, Bankruptcy, Banks, bonds, Britain, California, Canada, Journalism, mortgage, Politics, Refinance, wall street | Tagged , , , , , | Comments Off on Thomas Sowell’s New Book: The Housing Boom and Bust

Canada’s Mortgage Rescue Plan May Turn Profit

Report: Ottawa’s new program to fuel mortgage lending kicked off successfully yesterday and is widely viewed as a win-win, with banks applauding the cheap funding while the government stands to earn roughly $250-million a year. But there are calls for … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada’s Mortgage Rescue Plan May Turn Profit

Canada Buys $25 Billion In Mortgages

Report: Toronto-Dominion Bank and Bank of Nova Scotia responded by cutting their prime rates. Borrowing costs for Royal Bank of Canada and other lenders have soared as the global credit crisis spreads. Canadian banks are “reluctant to lend to any … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada Buys $25 Billion In Mortgages

Canada’s Big Banks Reduce Prime Lending Rates

From CTV.ca: The Bank of Nova Scotia, the Royal and the Bank of Montreal announced shortly afterward that they are cutting their prime rate by 0.25 points to 4.25 per cent. Canada’s big banks were under fire earlier this week … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada’s Big Banks Reduce Prime Lending Rates

Canada’s Key Mortgage Documents

Report: The federal government says it will buy $25-billion of Canadian mortgages to inject liquidity into the credit system. Jim Flaherty, the Minister of Finance, said said the move is aimed at maintaining the availability of long-term credit, which is … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada’s Key Mortgage Documents

Reshaping Canada’s Mortgage System

From TheSpec.com: Only a radical reshaping of the way people buy homes and pay off mortgages will ultimately repair the damaged financial sector in the United States, a leading American economist told a large gathering of Ontario business leaders yesterday. … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Reshaping Canada’s Mortgage System

Canada Susceptible To America’s Mortgage Crisis

From canada.com: The Canadian housing market could face a similar housing bust to the United States, particularly in more bubbly markets such as Vancouver and Calgary, according to Robert Shiller, the University of Yale professor who predicted both the U.S. … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada Susceptible To America’s Mortgage Crisis

Canadian Insurance Companies Solid

From Forbes: On Aug. 1, 2007, two Bear Stearns hedge funds filed for bankruptcy. Those two seemingly minor failures plunged the U.S. into its worst banking crises since the Great Depression. Thanks to globalization, the subprime virus has now contaminated … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canadian Insurance Companies Solid

Canada Is Safe From An American-Style Mortgage Collapse

From NationalPost: I know very little about the world financial markets, or even about basic financial concepts. — Less crappy mortgages. Canada’s subprime mortgage market (to the extent the bottom end of our mortgage market can even be called “subprime” … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada Is Safe From An American-Style Mortgage Collapse

Canada Faces Its Own Mortgage Crisis

From Canwest News Service: Lost amid concern over United States government agencies moving in to support mortgage lenders Freddie Mac and Fannie Mae plus IndyMac Bankcorp, was a warning that Canada could soon face its own mortgage crisis. Hall noted … Continue reading

Posted in Canada | Tagged , , , , , | Comments Off on Canada Faces Its Own Mortgage Crisis