Welcome to Monday
the sun is up - its 22 degrees celsius (72 fahrenheit) and all is well with the world.
The new bank act took effect and now a conventional mortgage is 80% instead of 75%
therefore you only have to put down 20% as equity in a home to avoid the dreaded cmhc or genworth mortgage insurance.
This should help people looking to consolidate debts and will no doubt help some people to get int to the mortgage market.
tomorrow we will see if I am correct on the Bank of Canada - I do not believe they will increase rates - they will likely increase their inflation outlook and become more hawkish to see if that can influence the market place and slow it down a little....
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