David Yeoman's (daveyeoman) Blog

In Canada we have exceptional no down payment programs which I use quite often to satisfy the needs and expectations of not only first time buyers but also more seasoned purchasers alike.  With recent revisions and improvements to the program, it is now possible to arrange 100% at what we deem "f...

After reading the following press release, I can impress on you enough the importance of having your application for mortgage preapproved now before the next wave of rate increases.  Regardless of purpose, purchase, refinance or renewal this preapproval will protect your rate against further incr...

OTTAWA- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.Information received since the April Monetary Policy Report Update (MPRU) indi...

It's been a ball, hasn't it? The real estate market has been so hot for so long, we  can hardly believe what houses are selling for these days. Everyone's got a story  about a friend or neighbour who got some fantastic price for a home. However there are some down sides to an up market. Among oth...

The old-fashioned clothes line of our grandmother's time may be due for a revival. The power blackouts of the past few summers have many people thinking outside the box: in fact, they're thinking outside... period. A clothes line is a terrific contribution to energy savings - since the dryer is o...

The un-official start to the cottage season is here, and as Canadians look for ways to make the most of their summer, many are looking to the country's hot recreational property market to maximize their seasonal enjoyment. And, even as prices continue to rise and more people turn to a mortgage pr...

Here is some historical data on the Canadian Prime Rate I thought you'd find interesting.If the Prime Rate remains the same for the next two weeks, it will have been 6.00% for a full year.  The last change was May 17th, 2006.The Prime Rate has not been that stable (over a 12 month period) for 34 ...

Recent federal legislation has increased the maximum loan to value ratio under which conventional lending can be done in Canada without a requirement for mortgage insurance.An amendment to the Canadian Bank Act came into effect on April 20, 2007, which increases the threshold for mandatory mortga...

For Immediate Release: OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 4 1/2 per cent.Growth of the Canadian economy has been essentially in...

Imagine this. A Canadian homeowner - a successful professional with a lovely home in a nice neighbourhood - arrives home after work one day to find a "For Sale" sign on his lawn. Imagining that it may be a practical joke, he asks his wife if she's unhappy with the house! But his wife has no idea ...