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
OSFI calls stress test “incomplete,” seeks to address “problem” of fixed-payment variable-rate mortgages + MORE Sep 8th
It's no secret that Canada's banking regulator has its sights set on fixed-payment variable-rate mortgage products. And OSFI chief Peter Routledge reiterated that point during a speech today..... More »
GTA home sales drop 16% in 2018, fewer houses listed: TREB + MORE Jan 5th
The number of homes sold in Toronto and the surrounding area fell in 2018 as homebuyers and sellers grappled with a new reality of higher interest rates and stricter mortgage rules..... More »
AKAL launches AKAL Canada brand to drive national expansion Sep 25th
After 25 years training brokers in Ontario, AKAL Mortgages is extending its model across the country with the launch of AKAL Canada..... More »
B.C. Rules Create Challenges for Creditor Life Insurance Apr 27th
About a year and a half ago, FICOM made a subtle but impactful rule clarification in B.C. The regulator stated that lenders must “play an active and substantial role” in creditor life insurance in order for mortgage brokers to be able to sell it to B.C. consumers. Basically, this means that th.... More »
What happens when a buyer backs out of a real estate deal? + MORE Sep 2nd
When it comes to backing out of a real estate deal, the law doesn’t tend to side with the dealbreaker, says Ron Butler, a veteran mortgage broker and one of the founders of Butler Mortgage in Toronto. If you’re the buyer, “You should find a way to complete the sale—beg, borrow, do whatever y.... More »
Don’t bank on a big inheritance
– moneysense.ca
Praying for an inheritance is hardly a sound financial plan, but a recent BMO poll found that two-thirds of Canadians are counting on receiving one to help them pay down mortgage debt, fund a child’s education or build up their investments. They shouldn’t. Only about half of those surveyed in June 2014 said they received any inheritance—and the national average is just above $96,000, an amount that varies dramatically depending on which region of the country you live in.
Source: BMO Financial Group
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CAAMP’s Chair & CEO on Today’s Announcement
– canadianmortgagetrends.com
The mortgage industry’s biggest association announced extensive changes today. The Canadian Association of Accredited Mortgage Professionals (CAAMP) is restructuring its provincial divisions, reinvesting in communications and online technology, reworking its Accredited Mortgage Professional (AMP) designation and rebranding itself (for the second time). Its stated goal is to strengthen support for the broker channel and better […]
