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... [ 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... [ 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... [ 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... [ 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... [ 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... [ more
Interesting short video from Globe and Mail called...Living in a fool’s paradise of low interest rates.
Click here for the Globe and Mail video. Rob Carrick takes a look at what Canadians can expect with short-term and long-term mortgage rates.
... [ more
The bond market was uneventful this past week. Rates continue to remain extremely low. Five year money is still in the 2.99%-3.19% range.
Keep in mind we still have 2 lenders offering 10 year funds at 3.89%. A wonderful option for those concerned with future... [ more
The Federal Government announced this morning four new clampdowns on insured mortgages that will quickly come into effect on Monday, July 9th, 2012.
These changes include:
Reducing the maximum amortization period to 25 years from 30 years
Reducing... [ more
Here is a copy of a blog posted on Barriston LLP's web site: http://www.barristonlaw.com/blog/
written by David Lucenti, Associate. Thansk David!
A couple of weeks ago, a client came in to see me regarding the sale of her home. She... [ more
On Tuesday, the Bank of Canada announced "no changes" with Bank Prime remaining at 3%
Continued European uncertainty lead the bond rate to a new low for 2012. Most of of our lenders have followed the market and we have seen a downward adjustment in... [ more
As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.
This means no changes in variable rate mortgages or line of credit rates.
Fixed rates remain at records lows. We currently have five year money ranging from the... [ more
Canada’s mortgage brokers are warning the banking regulator that its proposed mortgage underwriting rules could result in people losing their homes.
The brokers are concerned about a number of the potential rules, but the one that worries them most... [ more
An influential international body is urging Canada’s central bank to raise interest rates in the fall, and continue doing so through 2013 to cool housing prices and contain inflation.
The Paris-based Organization for Economic Co-operation and... [ more
With instability of the current European elections, we have seen the bond rate drop slightly. With so much European uncertainty there is potential to see the bond rate stay in this lower range.
The low bond rate creates our low interest market.
Keep in mind... [ more
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