How to keep your mortgage application in good shape
You’ve got your down payment together and you’ve found a great house that you just need. All you have to do now is secure a mortgage and you’re good to go. You know you have a good credit score and... Read More →
Just plan ahead to break your mortgage
Did you know that according to CMHC, six out of 10 Canadian homeowners break their mortgage on or before the third year of a five-year mortgage? That means that 60% of homeowners break their mortgage before it’s due and while... Read More →
How Down Payment Affects Your Mortgage Rate
“But my brother got 3.35% with his bank, why can’t I have that?” That’s a common question I hear from home buyers and owners looking for a new mortgage. While there are several factors that determine the interest rate including... Read More →
Should You Avoid a Private Mortgage?
Private mortgages have seen a significant boom in recent years with 2018 being one of the largest spikes ever. With the B20 stress test unveiled by the Office of the Superintendent of Financial Institutions at the end of December 2017,... Read More →
Why You Shouldn’t Panic Over The New Mortgage Rules
If you’re seeing all the Instagram, Twitter, Facebook and article posts that I am, you’re probably wondering – ‘With the new mortgage rules coming Jan. 1st will the Canadian real estate market drop?’ It’s an easy thought to creep in... Read More →
Secondary Financing a Solution For Lower Values at Closing
With the GTA’s homes selling for almost 20 per cent lower than they were in the spring, many transactions that were set to close are at risk. Mortgage lenders (traditional banks, monoline lenders and credit unions) have begun lowering their... Read More →
Genworth’s New Mortgage Insurance Down 81% in Q2
Mortgage insurance regulation changes announced last October are having a huge impact on Genworth Canada – one of two private mortgage insurers who compete with the government’s own CMHC (Canada Mortgage and Housing Corporation). Genworth MI Canada Inc. reported the... Read More →
What that rising mortgage interest rate really means to you.
The Bank of Canada finally increased its benchmark rate to 0.75 percent (up 0.25 %) after seven years of leaving the key interest steady and even reducing it a couple of times. All five major Canadian banks followed by increasing... Read More →
Is the Bank of Canada signalling that more mortgage rule changes are coming? – Mortgage Rates & Mortgage Broker News in Canada
Is the Bank of Canada signalling that more mortgage rule changes are coming? Mortgage Broker News5 min read Recently, the Bank of Canada released its semi-annual Financial Systems Review (PDF document), which identifies some of the major risks that the Bank... Read More →
Summer is here but is the real estate market cooling?
Summer is here but is the real estate market cooling? As recently reported by the Canadian Real Estate Association (CREA) the number of homes sold across Canada via the MLS system fell by 6.2% in May 2017 compared to April... Read More →