This Week's Mortgage Market Update Contains:

• Recovery hopes take another knock
• Great deals or potential nightmares?
• U.S. Existing Home Sales in Record Plunge
• What's Taxable Under the HST and What's Not?

This Week's Quotation:

“You have to have confidence in your ability, and then be tough enough to follow through. ” -  Rosalynn Carter (1927 - )

This Week's Highlights:

• Canadian housing starts fell 1.6% in July
• Canada’s annual inflation eases
• Canadian employment drops in July

This Week's Mortgage Market Update Contains:

• Canadian home sales sink 30 per cent in July
• Canada's housing market can't stay hot forever
• US mortgage finance needs new foundation
• What's Taxable Under the HST and What's Not?

This Week's Quotation:

“Difficulties are meant to rouse, not discourage. The human spirit is to grow strong by conflict. ” -  William Ellery Channing (1780 - 1842)

This Week's Highlights:

• Canadian housing starts fell 1.6% in July
• Canada’s annual inflation eases
• Canadian employment drops in July

This Week's Mortgage Market Update Contains:

• Why real estate slowdown is ‘most dramatic' in Canada
• June new home sales dive 46%
• US dollar falls to 15-year low against yen amid signs of slowing economic recovery
• BWhat's Taxable Under the HST and What's Not?

This Week's Quotation:

“Success is not final, failure is not fatal: it is the courage to continue that counts. ” -  Winston Churchill

This Week's Highlights:

• Canadian housing starts drop
• Canadian first-quarter GDP growth strengthened
• Canada’s labour market knocks it out of the park – again

This Week's Mortgage Market Update Contains:

• Best thing for Canadian economy would be job growth in U.S., analysts say
• Vancouver homes market goes cold
• U.S. service industry picks up
• What's Taxable Under the HST and What's Not?

This Week's Quotation:

“Have patience with all things, but chiefly have patience with yourself. Do not lose courage in considering your own imperfections but instantly set about remedying them - every day begin the task anew ” -  Saint Francis de Sales (1567 - 1622)

This Week's Highlights:

• Canadian housing starts drop
• Canadian first-quarter GDP growth strengthened
• Canada’s labour market knocks it out of the park – again

This Week's Mortgage Market Update Contains:

• Canada's tame inflation expected to slow future interest rate hikes
• House prices fall for first time this year
• New US home sales in June tick up slightly, but sales still low as demand slumps
• What's Taxable Under the HST and What's Not?

This Week's Quotation:

“n the province of the mind, what one believes to be true either is true or becomes true. ” -  John Lilly

This Week's Highlights:

• Canadian housing starts drop
• Canadian first-quarter GDP growth strengthened
• Canada’s labour market knocks it out of the park – again

A simple glossary of mortgage and economic terms to help clarify the language of the mortgage process and economic terminology.

While a mortgage is fundamentally a loan that is secured against your home, there are many variations to the type of mortgage that can be used for various needs. Based on your goals and risk characteristics there may be a number of different mortgage products that will meet your needs.

Inside this guide you will find (among a plethora of useful information to guide you through the home buying process) an application form and a fax cover page that outlines what is required to process a mortgage.

I cannot believe how certain builders (“Vendors”) are trying to take advantage of new homebuyers on the issue of mortgages. There is an attempt to squeeze extra money from innocent purchasers through certain clauses inserted into the Agreement of Purchase and Sale (the “Offer”), that follow the first clause illustrated and change something good, into potentially a trap for the unwary buyer:

Time and time again I am increasingly surprised at the number of people who go shopping for a home and mortgage without taking the time to know what is out there in the marketplace. I regularly have clients that have $50,000 RRSP portfolios that subscribe to multiple investment newsletters, while they are applying for a $300,000 mortgage completely in the dark.

With the interest rates still steadily moving up and no real end in sight it appears that people everywhere are grasping for ways to come up with the downpayment necessary to buy a home. Most people know of illegitimate ways to come up with a downpayment, but here are a couple of above board ways to reach the same goal.

More and more today we are seeing a lot of incentive programs that end up luring consumers in for higher rates over the term of their mortgage. If you are trying to find the most inexpensive mortgage financing, then the most important thing that you have to consider is your net cost of borrowing. Put aside the cash-back offers, the low introductory rates, and interest free periods and take a look at the whole picture before you make any mortgage decisions.

Avoid the 10 Most Common, Painful, Frustrating Mistakes First Time Home Buyers Make

Buying a residence can be a hair raising experience. A roller coaster of emotions from finding the right place, to securing the mortgage and moving in. For most of us the first time home purchase is the largest investment we've ever considered. Often the emotions of purchasing something so expensive and personal can cloud our business judgment.

People seem to be continually confused by their credit report (aka credit rating), and how it impacts their ability to get credit. This document alone can impact your ability to work at certain companies, rent an apartment, get a credit card, and even open a savings account.

The Calum Ross team has researched and put together these important and useful Bank of Canada links for you.

We deliver our service with the recognition that our loyal clients are always the backbone of our success. Each and every day we are further indebted to our clients and partners for being given the opportunity to serve our clients' needs. Our team's philosophy for customer service delivery can be summed up in one sentence, "Perfection is our goal - excellence is tolerated".

Visit Canadian mortgage reference articles section. Directory.