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
Others may follow RBC rate cut, but change isn't precedent setting + MORE Jan 22nd
TORONTO - A move by Royal Bank to slightly decrease its fixed mortgage rates may have would-be homeowners wondering whether other banks may follow suit..... More »
Don’t Fear the Digital Future of the Mortgage Industry + MORE Dec 15th
There’s no denying the mortgage industry—like many others—is in the midst of a digital transformation. Depending on your perspective, that’s something that can either be feared or embraced as a new opportunity. The fear, of course, is that as the industry moves towards greater automa.... More »
How high will interest rates go in Canada? Could they reach double digits? Jul 30th
We’re in the midst of a cost-of-living crisis—with sky-high grocery prices and mortgage rates that would have been inconceivable 18 months ago. To fight inflation, the Bank of Canada (BoC) has increased the policy interest rate by a total of 475 basis points (4.75%) since March 2022 (a basis.... More »
Secret home insurance discounts + MORE Sep 5th
(iStock)
You read about how being mortgage-free and/or owning a new home can save you up to 25% on your home insurance bill in the September/October 2014 issue of MoneySense. Here are 10 more home insurance discounts you may not know about.
Mature discount
Some providers offer 10% off if the insur.... More »
Mortgage Career of the Week Oct 15th
Company: Mortgage Teacher Inc. Position Title: Mortgage Agent/Broker Years of experience suggested: Optional Licences or Registrations Required: Completion of the Mortgage Agent or Broker course authorized by FSCO, Financial Services....... More »
Builder mortgages
– mortgageshowdown.com
Builder mortgages can be a very large and encompassing area of mortgage lending. This article is about mortgage lending for home builders, more specifically lending low cost, flexible mortgage funds for their current completed homes that are in their inventory.
Many of our home builder clients have either larger commercial lines of credit to facilitate their home building expenses or obtain private builder financing or a combination of both. This creates a two fold challenge:
Many of our home builder clients have either larger commercial lines of credit to facilitate their home building expenses or obtain private builder financing or a combination of both. This creates a two fold challenge:
With builders’ lines of credit the challenge is our home builder clients run out of money as they continue to build. For example if a home builder has a $5 000 000 line of credit, he starts five new homes a month, and his average land and build cost is $400 000, he will run out of money in two and a half months.
With private builder mortgages, the challenge is that the cost for these funds is typically around 12% interest, so once the home is complete if the builder is still holding it, their profit margin decreases daily due to higher interest expenses…
Laurentian Bank Canada – 3 year Variable Closed : 3.00% (-0.2%)
– ratesupermarket.ca
Laurentian Bank Canada 3 year Variable Closed mortgage rate was changed on September 12, 2013
DUCA Financial Services – 4 year Closed : 3.29% (0.05%)
– ratesupermarket.ca
DUCA Financial Services 4 year Closed mortgage rate was changed on September 12, 2013
Bank of Montreal – 7 year Closed : 6.35% (0.4%)
– ratesupermarket.ca
Bank of Montreal 7 year Closed mortgage rate was changed on September 14, 2013
Global Housing Markets: How Does Canada Compare?
– ratesupermarket.ca
Canada’s housing market roller coaster is a regular headline topper – but how does it compare to property markets around the world? According to Scotiabank’s Global Real Estate Trends report, some of our global counterparts are strengthening, despite lingering post-recession economic woes.
“Despite the sluggish pace of economic activity and elevated financial market volatility, inflation-adjusted home prices strengthened year-over-year in the second quarter in the majority of countries we survey,” says Adrienne Warren, a senior economist at Scotiabank.
On The Home Front
In Canada, we’ve seen Q2 year-over-year inflation-adjusted home prices rise 2.5 per cent, as sales show no sign of slowing, despite economist warnings of a market downturn. Home prices are still within historical norms, but mortgage interest rates are slowly meandering upwards. This has led to economists to call for a slight cooling of the housing market next year thanks to “slowing job growth and the recent uptick in fixed mortgage rates…
