Archive for: March 2012

Flaherty budget answers mortgage broker pleas

Filed under: Mortgage - 29 Mar 2012

Flaherty budget answers mortgage broker pleas
By Vernon Clement Jones | 29/03/2012 1:00:00 AM | 3 comments

PHEW! Brokers are breathing a sigh of relief after the Finance Minister rejected calls to tinker with mortgage insurance rules, offering a budget that …

Finalists for Canadian Mortgage Awards broker/brokerage categories announced

Filed under: Mortgage - 29 Mar 2012

By | 28/03/2012 8:00:00 PM | 0 comments

As the 2012 Canadian Mortgage Awards wind down on June 1, there may be some familiar names headed to the podium to accept the Broker, Brokerage and National Broker Network of the …

Lender: BFS rates safe for now

Filed under: Mortgage - 27 Mar 2012

 By Vernon Clement Jones | 26/03/2012 8:00:00 PM
The hasty retreat of A lenders from the NIQ space (stated income) will certainly limit funding options for broker clients, but shouldn’t – despite growing fears – lead to a spike in borrowing costs, …

Boring….but very important information about your payout penalty calculation

Filed under: Mortgage - 20 Mar 2012

Standardizing Mortgage Penalty Calculations

Rob McLister, CMT

Two years ago, the government pledged to “standardize the calculation and disclosure of mortgage prepayment penalties.”

It addressed the disclosure problem last week (see: New Mortgage Penalty Disclosure), but it …

Breaking your mortgage: ‘It’s either worth it or it’s not’

Filed under: Mortgage - 20 Mar 2012

Mary Teresa Bitti Mar 14, 2012 – 3:39 PM ET | Last Updated: Mar 14, 2012 4:48 PM ET

 Fixed-rate mortgages are at historic lows but if you are locked in to a contract with your bank, those benefits may …

Royal Bank, CIBC, TD and BMO slash mortgage rates to 2.99%

Filed under: Mortgage - 09 Mar 2012

Dana Flavelle
Business Reporter

 Four major Canadian banks have slashed their mortgage rates to 2.99 per cent – temporarily – in a bid to win more business as the housing market cools.

Royal Bank of Canada was the latest to join the fray …

Mortgage Rule Changes for the Self Employed

Filed under: Mortgage - 02 Mar 2012

(The State of Stated Income)
Canada has 2.67 million self-employed citizens, about 15% of the work force, says CAAMP.

Due to how they report income and deduct expenses, these individuals are frequently reliant on …