In the past week, there was virtually no change in the bond or mortgage rates. Costs of all funds remain extremely low.
All lenders and mortgage insurers are continuing to tighten up on lending policies. This makes it even more important that you are dealing with full time, seasoned... [ more
Bonds remained relatively steady this week with no major changes to interest rates.
We have seen a slight tweaking of fixed funds for high ratio or quick closings, offering a 5 year fixed at 2.99%.
Regular 5 year money is currently in the 3.09% - 3.19% range. We still have one lender, both... [ more
Bonds remained relatively steady this week. No changes expected in interest rates at this time.
Five year money is currently in the 3.07% - 3.19% range. We still have one lender, both conventional and high ratio, offering 10 year funds at 3.89%.
If you have a variable rate of any more than... [ more
Bonds remained relatively steady the past week with only slight upward pressure. No changes expected in interest rates at this time.
Five year money is currently in the 3.09% - 3.19% range. We still have one one lender, both conventional and high ratio, offering 10 year funds at 3.89%.
Over... [ more
Think twice before considering the Rent to Own Program...Good article from CBC News articulating the risks involved in Rent to Own programs. http://www.cbc.ca/news/canada/manitoba/story/2012/09/10/mb-rent-to-own-housing-winnipeg.html
If you have any questions about this article or about... [ more
These new rules have been approved and are now in the process of being implemented by all Federally Regulated Financial Institutions (FRFIs) across Canada. They have to be in place by each lender's year end (by December 31st, 2012 at the latest).
Some banks are now changing the maximum loan to... [ more
News Release: Scotiabank has an agreement to purchase the Canadian operations of ING Direct. At this time it would appear that ING will continue to operate as a strong independent brand, offering self service banking, and investing without branch services and advice.
Mortgage Brokers... [ more
Bonds have spiked up the past few days by 15 basis points. We fully expect to see most lenders increase fixed rates by nominal amounts. The increase has been caused by stronger U.S. data, and a lack of recent turmoil in the European markets. We fully expect to continue an up and down response to... [ more
The lack of global economic turmoil the past few weeks has seen the bond rates rise by approximately 20 basis points. There is some pressure to see a small increase in the fixed mortgage rates. 5 year money continues to the 2.99% - 3.09% range.
We have one lender that will secure 10 year... [ more
If you are considering a future HELOC or readvanceable mortgage equalling 66%-80% of your home value, you may want to act soon.
Rumour has it that some banks may start cutting back on their HELOC lending limits by the end of this month.
... [ more
The bond rate dropped marginally over the last week which could lead to a potential tweaking of fixed rates.
We now have one lender offering 3.89% both conventionally and high ratio.We previously had 3 lenders offering 10 year funds at 3.89%. If you have been thinking about the 10 year... [ more
Continued uncertainty in Europe and other emerging economies is still a concern to the Bank of Canada. On Tuesday, it was announced that no changes will take place and bank prime will remain at 3%.
The bond rate remained steady this week with five year money maintaining the 3.09% - 3.19%... [ more
With the new mortgage regulations last week, every lender saw instant increased volumes. As a result, we are experiencing slower turnaround times.
On the conventional side, a few of our lenders have tightened amortizations to be consistent with that of the new changes but we do still have... [ more
The majority of our lenders have officially announced the changes to underwriting guidelines effective July 9th at the latest. We are seeing an overall tightening up in the mortgage industry with both high ratio and conventional mortgages.
The next announcement from Bank of Canada will take... [ more
1. If I have mortgage default insurance do I also need mortgage life insurance?
· Yes. Mortgage life insurance is a life insurance policy on a homeowner, which will allow your family or dependents to pay off the mortgage on the home... [ more
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