March 21 roundup

In defense of cheap mortgages, a lesson for landlords and charitable giving in Canada.



Online only.


•The head of BMO is defending cheap mortgages even amid concerns that Canadians are overly indebted. Bill Downe says the products allow homeowners to know what their monthly payments will be no matter where interest rates go in the future. He also predicts house prices are in for a “soft landing.”

•A Surrey, B.C. landlord was fined $115,000 for failing to address a leaking roof. Let it be a lesson to landlords, said Rich Coleman, the B.C. minister responsible for housing.

•Canadians, it would appear, are a charitable bunch. New StatsCan data shows nearly 24 million people opened up their wallets for charity in 2010, giving a total of $10.6 billion.

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