Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
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Family legacy: How to pass along the family cottage—and 3 things to avoid + MORE Nov 22nd
The iconic Canadian cottage stands as a symbol of family traditions, summer getaways and cherished memories. Yet, as the years pass and generations shift, the future of a family cottage can become uncertain, thanks to things like family conflicts, financial implications and differing expectations am.... More »
Interest rates rise at weekly auction of US Treasury bills Aug 23rd
WASHINGTON – Interest rates on short-term Treasury bills rose in Monday’s auction, with rates on six-month bills climbing to their highest level since late May.
The Treasury Department auctioned $40 billion in three-month bills at a discount rate of 0.310 per cent, up from 0.300 per cent.... More »
Should you loan money to someone who is house rich and cash poor? May 19th
My daughter is 60, divorced, owns a house, perhaps $800,000 house value. She has a small mortgage and no savings of any kind. She lives on a line of credit and a credit card. Her only income is about $300 to $400 monthly CPP.
She is wondering how best to manage. Should she sell now and rent for a.... More »
Explicit Compensation Disclosure – Part II + MORE Oct 26th
It’s shaping up as one of the most pivotal and contentious regulatory issues ever faced by mortgage brokers in B.C. As noted in yesterday’s story, the B.C. broker regulator (FICOM) is proposing a change that would require mortgage brokers to communicate (to the dollar) the exact amount .... More »
Credit counselling, Consumer proposal or Bankruptcy… Which option is most favourable? + MORE Mar 16th
A couple in their 30s contacts me for a mortgage. They want to buy a new home. She’s a high school teacher and he’s a computer firm manager. Incomes are good. I check their credit.
Let’s stop here for a minute… If they have good credit, an approval is simple and we can provi.... More »
Carrick on money: Nine reasons to love your mortgage
– theglobeandmail.com
The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
Accelerate mortgage payments or invest?
– moneysense.ca
Q: My husband and I are struggling with the classic “do we pay down the mortgage or do we make minimum payments and put all of our extra money into investments” question. Our situation is a bit unique in that we are in our early 40s, have no consumer debt, one adult child, we owe about $200,000 on our home and have about $250,000 in investments. We earn just over $200,000 per year combined and would like to buy a second home in a warmer climate, but we aren’t sure what would be the best financial strategy to make it happen.—ChantalA: You’re not unlike many Canadians, Chantal. You have limited dollars chasing multiple priorities. Making the right choice boils down to prioritizing and projecting. If you prioritize your goals and project the likely outcomes, you can decide if the financial and lifestyle implications are in check if you make one choice over the other.
Here’s the thing: Mortgage debt repayment is investing. Your return comes from interest savings that accrue by paying down the principle portion of your debt…
One Solution for Quick NOAs
– canadianmortgagetrends.com
It’s common for lenders to ask for Notices of Assessment (NOAs) when validating a mortgage application, especially if the borrower is self-employed or has bonus income, for example. But applicants often misplace their NOAs, or can’t get them quickly enough from their accountant. Inaccessible NOAs can sometimes limit your lending options, a problem that’s magnified […]
Mortgage Career: Equity Financial Trust – Mortgage Underwriter
– canadianmortgagetrends.com
Company: Equity Financial Trust Position Title: Mortgage Underwriter Years of Experience Required: 5 years Location of Position: Toronto, Ontario Applicants may contact: resumes@equityfinancialtrust.com Mortgage Underwriter Company Overview: Equity Financial is a publicly traded Canadian financial services company serving the alternative retail mortgage market through its OSFI‐regulated wholly‐owned subsidiary Equity Financial Trust Company. At Equity, we strongly […]
Mortgage Career: Equity Financial Trust – AVP, Mortgage Operations
– canadianmortgagetrends.com
Company: Equity Financial Trust Position Title: AVP, Mortgage Operations Years of Experience Required: 7 years Location of Position: Toronto, Ontario Applicants may contact: resumes@equityfinancialtrust.com AVP, Mortgage Operations Company Overview: Equity Financial is a publicly traded Canadian financial services company serving the alternative retail mortgage market through its OSFI‐regulated wholly‐owned subsidiary Equity Financial Trust Company. At Equity, […]
