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Mortgage News for Wednesday - February 23, 2005

More Mortgage News
• RBC may unload U.S. mortgage subsidiary
• It may pay to hold your own mortgage
• TAX OFFICE SENDING REFUNDS
• Several Habitat For Humanity Homeowners Angry At Rising Mortgage Rates
• Borrowers boost real estate mortgage refinancings
• Buyers: Home sales hurt finances
• Fed minutes: Interest Rate hike hinges on U.S. economy
• Global Economy Faces `Serious Threats,' IMF's De Rato Says
• Energy-efficient housing pays off
• Eight Ways to Make Money in Real Estate
Mortgage News
RBC may unload U.S. mortgage subsidiary - 2005-02-23
Royal Bank of Canada, the country's biggest bank, may sell its unprofitable U.S. mortgage unit after spending more than $215-million (U.S.) to build up the business during the past five years, people familiar with the matter said.

RBC put RBC Mortgage up for sale after revenue at the Houston-based subsidiary dropped 35 per cent to about $115-million in fiscal 2004, said the people, who declined to be identified.
Read the full story at Globe and Mail
 
It may pay to hold your own mortgage - 2005-02-23
While the majority of Canadians are familiar with the Home Buyers Plan, which allows for the interest-free borrowing of $20,000 from a registered retirement savings plan to help first-time buyers finance a home, many don't know they are allowed to hold their entire mortgage in their RRSP and make interest payments to themselves instead of the bank.
Read the full story at National Post,
 






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