Obtaining a mortgage or secured line of credit in Canada at the best rates is often a daunting task. We can help! Read the articles below for more info.
Latest News
Incorporate Balance Transfer Offers into Your Arsenal Oct 20th
As mortgage professionals, we are sometimes asked to solve problems slightly outside the scope of our mandate. Naturally, we must take care not to position ourselves as tax experts, accountants or lawyers..... More »
Rate Increases a Concern, but Many Borrowers Say They Can Handle It: RBC + MORE Mar 26th
Rising interest rates is a concern for most mortgage holders, though many feel "well-positioned" to deal with it..... More »
CMHC reports further slowing of housing starts with no turnaround in sight Feb 16th
The pace of homebuilding in Canada continues to slow with no near-term signs of a turnaround, said Canada Mortgage and Housing Corp. on Monday..... More »
The latest in mortgage news: uninsured posted rates at decade-highs + MORE Mar 11th
Uninsured posted rates from Canada's Big 6 banks have skyrocketed over the past year, according to data from the Bank of Canada..... More »
We made money on the Toronto housing market. Now what? Nov 4th
We had a plan. We considered the bank’s low interest rates, the rising real estate prices and record low inventory and thought it was the perfect time to cash in on the Toronto real estate market by moving out of the city. My husband and I were going to move from Ontario to Manitoba, selling our E.... More »
Latest in Mortgage News: Industry Announcements
– canadianmortgagetrends.com
Equitable Bank Improves Reverse Mortgage Process Reverse mortgage clients of Equitable Bank can expect a quicker and less expensive closing process, according the the bank. Equitable, one of just two reverse mortgage providers in Canada, announced the launch of its new closing process this week. The change will mean, for example, that borrowers in Alberta, B.C. and Ontario will no longer be required to retain two lawyers to close their deal. Instead, Equitable Bank can work directly with their own […]
When a Second Mortgage makes good financial sense.
– canadamortgagenews.ca
Quick, what’s the first thing that comes to mind when you think of “second mortgages”? For some, it could be that shady-looking character in a smoke-filled pool hall… guys with gold chains and a baseball bat nearby. Maybe you’re thinking of someone in financial trouble? Or, perhaps it’s just someone who doesn’t want to pay outrageous costs and penalties to refinance their existing mortgage.
The mere mention of second mortgages conjures up all sorts of images. Most of them, negative. For many, a second mortgage can be a last-resort solution during a financial crisis. For several others, it can be an opportunity to save money. That’s right, to save money.
Sure, second mortgages carry a higher interest rate than first mortgages, but they can also serve a purpose. One of those purposes can be to save you money. Yup, I said it again. There are some new trends emerging with today’s new mortgage products that are forcing consumers to seek other options…
