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
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Should you get a fixed-rate or variable mortgage? In these strange times, fixed has a rare edge Nov 23rd
With rates this low, the usual advantages of renewing with a variable mortgage are diminished or gone, writes David Aston..... More »
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The Latest in Mortgage News – Economic Growth & Housing Affordability Dec 3rd
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Housing sales fall in most markets across Canada - The Globe and Mail + MORE Jul 17th
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The federal agency that backstops Canada’s housing market will make an announcement Friday that could affect the mortgage market and home buyers.
CMHC Announcement: 5 Potential Changes For The Mortgage Market
– ratesupermarket.ca
The Canada Mortgage and Housing Corporation, the Crown corporation that provides mortgage insurance to high-risk home buyers, is to make an announcement tomorrow at 11 a.m. EST.
While the topic du jour has yet to be revealed, the impending statement has set the mortgage industry buzzing – will CMHC’s announcement alter the Canadian mortgage landscape or further restrict home buyers’ purchasing power?
It wouldn’t be the first time the CMHC would be used to restrict the mortgage market. Finance Minister Jim Flaherty has used the crown corporation four times already to introduce change, most recently last summer when the maximum for high-ratio (less than 20 per cent down paid) mortgages was cut from 25 years to 20, and the debt ratio requirements for mortgage qualification were tightened.
While we can only speculate what new developments are in store, here are a few choice possibilities… and the impact they could have on Canadian home buyers.
Scenario 1: CMHC Will Hike Insurance Premiums
Everyone who pays less than 20 per cent down on their home purchase must take out mortgage default insurance, which covers the lender’s losses should owners not make their mortgage payments…
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: MBT (mortgagebrokerteam.ca Inc.) Position Title: Mortgage Broker / Agent Years of Experience Required: Preferably 2+ (not required) Licences or Registrations Required: Yes Location of Position: British Columbia & Alberta…
Online Mortgages Exploding in the U.S.
– canadianmortgagetrends.com
The volume of mortgages sourced on the Internet shot up 75% last year in the U.S. Branch-sourced mortgages dropped 16%. These numbers reflect a clear trend and they are not…
