Debts / Market Updates / Mortgage Renewal / Rates & Terms / Refinance / Rental Properties / Variable Interest Rates

How Do You Compare?

Here is some interesting survey information* about our current mortgage market in Canada, how do you compare to your country counterparts? Mortgage Types & Amortization Periods Mortgage Types for Recent Purchasers: 66% chose Fixed Rate Mortgages 28% chose Variable Rate Mortgages 6% chose Combination Mortgages or other Niche Products Amortization Periods for Recent Purchasers: 60% … Continue reading

Broker vs. Bank / Credit / Debts / Rates & Terms / Refinance / Rental Properties

Looking for a Mortgage Rule Loophole? We have one!

The new mortgage rule announced July 9th limiting refinance maximums to 80% of the home value has restricted some homeowners. The good news is there is still an alternative to get you 85% of your home value to help with debts, mortgage payment reduction or whatever else you could use your extra funds for. The … Continue reading

Credit / Debts / Downpayment / First Time Home Buyer / Lenders / Market Updates / New to Canada / Pre-Approvals / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

New Mortgage Rules: Summary & Commentary

The official announcement came out June 21st that mortgage rules are changing effective July 9, 2012. Below is a summary of the new mortgage rules coming into effect as well as a commentary on the affect the New Mortgage Rule announcement have had on the mortgage market so far. These new mortgage rules are only … Continue reading

Mortgage Renewal / Pre-Payment / Purchase / Qualifying / Rates & Terms / Refinance / Rental Properties

10 is the new 5

Why 10-year terms are becoming more popular than the 5-year term is no mystery. With rates so low a 10-year term has obvious benefits and before you decide on the term & rate you take it is important to talk to your mortgage professional to ensure it is your most favorable option for your present … Continue reading