Archive for: October 2017

Growing Trend: Buying Real Estate with Family and Friends

Filed under: Mortgage - 26 Oct 2017

While it’s fairly common for those in tight rental markets to have a roommate to help split the rent, an emerging trend is buying real estate with a family member or friend.

Faced with high home prices in big cities and …

Bank of Canada holds rate, suggests more hikes likely at more cautious pace

Filed under: Mortgage - 25 Oct 2017

The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace.

In its scheduled announcement, the central bank said it held off this time in …

Video: Time to choose

Filed under: Mortgage - 19 Oct 2017

Contact Garth to see how much different a mortgage can be

OSFI releases final B20 guidelines

Filed under: Mortgage - 17 Oct 2017

THINK OUTSIDE THE BOX: Big news for 2018!!  A new stress test being introduced by the Government means ALL Buyers requiring a mortgage now need to qualify at a higher (stress test) rate.  Effective January 1st, all Applicants will qualify …

This money-saving mortgage is on sale right now, but you should take a pass

Filed under: Mortgage - 12 Oct 2017

THINKING OUTSIDE THE BOX:  Fixed or Variable?  That is the question…

The all-star mortgage choice for saving money over the past few decades is finally back on sale at your mortgage broker, bank or credit union.

As was the case before the …

Consumer, mortgage industry reeling

Filed under: Mortgage - 10 Oct 2017

THINK OUTSIDE THE BOX: The government’s recent mortgage rule change has had a disastrous effect on both first-time homebuyers and the mortgage industry as whole, says one industry insider.

The Principal Broker of Mortgagepedia Inc., Annie Mirza, says the intervention has particularly …

3 Reasons Canadian Housing Will Roar in 2018

Filed under: Mortgage - 10 Oct 2017

THINK OUTSIDE THE BOX: The real estate industry received some long overdue good news from the Toronto Real Estate Board, as home prices climbed 6%, representing the first monthly increase since the slide began in April. The housing correction that …

Stricter mortgage rules could be in place by January

Filed under: Mortgage - 04 Oct 2017

THINK OUTSIDE THE BOX:  Client buying power may drop 20% in the coming months with proposed new Government rule changes.  That’s HUGE!

Just like CMHC insured Borrowers now have to qualify at the Bank Qualifying Rate (currently at 4.84%), despite still …