How Are Mortgage Penalties Calculated on Early Payout

An open mortgage term does not have a pre-payout penalty. Therefore, an open mortgage carries a premium on interest rate to ensure that the financial institution is able to recover as much interest as possible for the duration of the term.

Canada’s banking giants headed for earnings iceberg

Apparently, a great reckoning is fast approaching inside the country’s gleaming bank towers. Canada’s major banks are said to be on the verge of hitting a revenue iceberg that could slice earnings per share growth in half this year.

Record numbers of tourists come to Hawaii in 2012, spend record amounts of money

HONOLULU, Hawaii - A recovering global economy, strong yen, stable oil prices, more flights and marketing campaigns helped bring a record number of tourists to Hawaii last year, the Hawaii Tourism Authority said Thursday.

Delinquent loans fall to record low amid signs Canadians are kicking their debt habit

Credit has become very important for consumers in general. There is more awareness, I would say, then there was before.

Well priced properties coming onto the market in sought after Italian locations

People looking for a second home overseas can now buy property in Italy at a bargain price, according to one expert with over 25 years experience in the Italian real estate market.

Who’s losing in the housing slump? Real estate agents

Home sales continue to plummet in most parts of the country, and with the decline has come a new reality for organized real estate: a drop in how much money everybody is making.

What direction are home prices headed? Depends on who you ask

It has become the new mantra of real estate watchers — there’s no crash coming, just a soft landing and an ever-so-minor correction in prices.

Expect a ‘soft landing’ for condo development, housing market

Canada’s leading bankers expect the country’s real estate market, including condominium development, faces a “soft landing” even though the slowdown is affecting mortgage lending.

The winners and losers of fiscal cliff deal

In case you were asleep when it happened, the U.S. House of Representatives finally reached an agreement to steer the country out of the dreaded “fiscal cliff.”

BMO Experts Look Back at 2012, Announce Predictions for 2013

Top economic and market strategists from BMO Financial Group released their economic and market analysis of 2012 and made their predictions for 2013 and beyond.