This week in the news

Mortgage price wars have subsided, HSBC chief says After a flurry of competition in the Canadian mortgage market over the past month, the undercutting between major banks appears to have subsided, says a top banking executive. 12 quick fixes for your household things Fifteen-minute homeprojects that won't put a dent in your weekend. Fifteen-minute homeprojects that won't put a dent in your weekend. Improved Penalty Disclosures On The Way Two years ago to the day, the Finance Departmentpromised to “bring greater clarity to the calculation of mortgage pre-payment penalties.” Later this year, that promise will become realized. The government has just announced a brand new mortgage “code” that requires federal financial institutions to: “…provide more information on how prepayment charges are calculated.” “…explain the differences between mortgage products, including ways to pay off a mortgage faster without incurring penalties.”