Category: Mortgage

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 …

These are the homeownership costs Canadians forget about

Filed under: Mortgage - 29 Sep 2017

THINK OUTSIDE THE BOX: A home is the most expensive thing most of us will ever buy. But the true cost of homeownership is even steeper than many of us realize, according to a new survey commissioned by Intact Insurance.

About …

Canada’s ‘borrowing binge’ has put economy in precarious position, report warns

Filed under: Mortgage - 27 Sep 2017

THINK OUTSIDE THE BOX: Moody’s Analytics paints an ugly picture of what could happen to the Canadian economy if everything goes wrong in the housing market.

Moody’s Analytics calls it “mortgage meltdown math”, but the subsidiary of the ratings agency paints …

How parents can keep down payment gifts safe when couples split

Filed under: Mortgage - 27 Sep 2017

THINK OUTSIDE THE BOX: We have seen an increase in down payment gift from parent to help their children purchase a home. Given that about four in 10 marriages end in divorce, according to Statistics Canada, more families are looking to …

The ballyhooed ‘war on homebuyers’ isn’t real

Filed under: Mortgage - 26 Sep 2017

THINK OUTSIDE THE BOX:  Regulators have finally realized that Canada is addicted to debt, and are trying to limit the fallout. This is not a bad thing.

Canada’s real estate market has seen a lot of changes over the past year or so. Interest …

What is the “Best” Mortgage Rate?

Filed under: Mortgage - 22 Sep 2017

THINK OUTSIDE THE BOX: Six in ten mortgage consumers choose brokers, in large part because they think brokers will get them the best rate.

All too many of those people associate the “best” rate with the “lowest” rate. Mortgage professionals know that’s not …

What you need to know about the Equifax data breach

Filed under: Mortgage - 19 Sep 2017

THINK OUTSIDE THE BOX : Equifax, one of the three main credit reporting companies, said this week that a major data breach exposed Social Security numbers and other important information of millions of people.

The breach affected about 143 million in …

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