RBC seeks to join Canada mortgage-bond fray on nonprime deal

With the exception of BMO, major banks have refused to advertise reasonable 5-year fixed rates (3.09% or less by today’s standards). But that changed last week when both Royal Bank and TD Canada Trust dropped their rates to 3.29% on a 5-year fixed. As best we can tell, that’s the lowest 5-year fixed rate that either have ever advertised on their websites.

Homebuilder sentiment cools from almost 12-year high Homebuilder Sentiment in U.S. Cools in January From 18-Year High By Tony Seruga Sentiment among America’s homebuilders eased in January to the second-highest level since 2005, a sign the housing market will continue to make strides this year, according to data Wednesday from the National Association of Home Builders/Wells Fargo.

I was somewhat surprised to read this: RBC Seeks to Join Canada Mortgage-Bond Fray on Nonprime Deal. I always assumed the big banks were already doing this in order to mitigate the risk on these mortgages. I would like to see the government getting out of the business of insuring mortgages, which would result in higher rates.

While there are some similarities, getting a mortgage 8 in the U.S. is a different process compared with the Canadian system. Here are six ways U.S. and Canadian mortgages are different.

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Home Capital Group Inc. is adding a former Royal Bank of Canada executive to its board of directors, replacing company founder Gerald Soloway. Alternative lender’s troubles precipitate tsx drops. concerns about Canadian housing sector’s stability mount. RBC seeks to join Canada mortgage-bond fray on nonprime deal

Building department inspection patten boss editor. apr RBC seeks to join Canada mortgage-bond fray on nonprime deal Mortgage-backed securities price fraud prosecution rests case housing starts fall more than expected, permits steady housing Starts Fell Much Further than Expected in Storm-Ravaged September [.]

Non-prime lending threatening to housing sector, CIBC study says By Dane Dandan Font size : CIBC World Markets has identified another area of concern for the Canadian housing market in its latest report: the non- or less-regulated lenders offering home loans to consumers.

Mortgage Backed Securities Are Now In Canada. And secondly, a major Canadian bank has announced they are bringing MBSs to the Canadian market. Bank of Montreal is bundling nearly $2 billion of prime Canadian mortgages into securities, in a first-of-its-kind deal as the government looks to reduce support for the fast-growing housing sector.

Equitable Group stock soars after deal to borrow up to $2 billion from banks. Equitable Group shares soared on Monday after the alternative mortgage lender said it reached a deal to borrow up to $2 billion, if needed, from a syndicate of Canadian banks. rbc seeks to join Canada mortgage-bond fray on nonprime deal