Interested in learning more about property mortgages in Canada? Look no further!
Latest News
Rising delinquency rates linked to oilpatch troubles + MORE May 18th
OTTAWA – Delinquency rates for non-mortgage loans are on the rise in Canada and it appears the problem can be linked to trouble in the oilpatch, according to credit monitoring agency TransUnion.
TransUnion says the ratio of accounts 90 or more days past due increased to 2.52 per cent in the first .... More »
Loanova prepares to launch Canada’s first fractional mortgage platform + MORE Nov 27th
The tech-driven startup plans to let everyday investors buy small stakes in syndicated mortgages, while helping borrowers who don’t qualify for traditional bank financing..... More »
How to protect your investments if the inflation genie sparks interest rate hikes Jan 19th
Now is a good time to prepare your finances for rising interest rates as they affect everything from the makeup of your portfolio to your mortgage.... More »
CMHC’s First-Time Home Buyer Incentive Falls Short of Expectations Jun 20th
The Canada Mortgage and Housing Corporation held an official announcement yesterday to release details of its First-Time Home Buyer Incentive (FTHBI). While officials reiterated how this shared-equity program will help young middle-class Canadian buyers, there were scant new details beyond what has .... More »
How much income do I need to qualify for a mortgage in Canada? + MORE May 18th
After several years of sky-high borrowing costs, mortgage rates are (finally!) starting to ease up. That’s great news for cash-strapped Canadians currently shopping for the best mortgage rate—but it unfortunately hasn’t translated into improved affordability when buying a home.
The national.... More »
Hunting for a lower mortgage rate could cost you
– moneysense.ca
OTTAWA – Homebuyers tend to shop around for the best mortgage rate they can find when first purchasing a property.
But when renewal time comes around, chasing the best rate might not save enough to offset the costs of moving lenders.
Frank Napolitano of Mortgage Brokers Ottawa says the cost of moving a mortgage at renewal time will depend on the type it is.
For example, on a standard mortgage, the costs of moving may be minimal and the lender who is taking over the loan may be willing to absorb them.
However, on a collateral mortgage, the fees will be more.
Documents required to get the best mortgage rate »
A standard mortgage is registered for the actual amount of the loan, while a collateral mortgage allows a home to be used as security for more than one loan. The downside is that changing lenders with a collateral mortgage entails paying both discharge fees and new registration fees.
“With a collateral mortgage you can’t just move the mortgage from one institution to another without incurring either legal fees or title insurance fees,” Napolitano says…
But when renewal time comes around, chasing the best rate might not save enough to offset the costs of moving lenders.
Frank Napolitano of Mortgage Brokers Ottawa says the cost of moving a mortgage at renewal time will depend on the type it is.
For example, on a standard mortgage, the costs of moving may be minimal and the lender who is taking over the loan may be willing to absorb them.
However, on a collateral mortgage, the fees will be more.
Documents required to get the best mortgage rate »
A standard mortgage is registered for the actual amount of the loan, while a collateral mortgage allows a home to be used as security for more than one loan. The downside is that changing lenders with a collateral mortgage entails paying both discharge fees and new registration fees.
“With a collateral mortgage you can’t just move the mortgage from one institution to another without incurring either legal fees or title insurance fees,” Napolitano says…
Verico MortgagePal Inc.
– canadianmortgagetrends.com
Company: Verico MortgagePal Inc. Position: Experienced Mortgage Professionals Location: B.C., Alberta and Ontario Apply to: careers@mortgagepal.ca Experienced Mortgage Professionals Department: Sales Requirements: Minimum 2 years experience or 20 funded files Positions: We’re seeking experienced mortgage professionals to join our growing and dynamic team in BC, Alberta and Ontario. We will also consider agents with limited experience provided the right skill-set. Remuneration is 100% commission based. Who we are: MortgagePal is Canada’s leading support based brokerage for Mortgage Professionals. We help you grow your business with our proven, end-to-end marketing, administration and fulfillment support services. We have a track record of success supporting READ MORE
Brokers Showing Their Hands. The Repercussions.
– canadianmortgagetrends.com
The public is increasingly aware of what mortgage brokers make per deal. And now, courtesy of pending regulatory change, they’re about to become more aware. Should that concern you as a broker? If you like making full commissions, you bet. Everyone from the CBC and Globe and Mail to trade magazines and consumer forums have published how FICOM (B.C.’s broker regulator) wants to force brokers to reveal their compensation (more on that). In time, other provinces may follow. What Happens Next If/when these rules pass, it could take just few years for a critical mass of borrowers to realize: a) READ MORE
Avoiding an Economic Deep Freeze
– ratesupermarket.ca
February has been a busy month for finance headlines, as global markets and governments rally against possible economic downturn. Oil prices have jumped slightly in response to news of an OPEC production freeze – will there be a positive impact for Canada? Meanwhile, all eyes are on the Liberal government, and the steps they may take to boost stimulus spending. Read on for the full story.
Will OPEC’s Doha Deal Help Oil Prices?
The new Doha deal among the OPEC nations to freeze oil outputs has helped boost energy prices – but critics warn the benefits won’t reach Canada’s economy. Read on for our breakdown.
Read Rubina’s Blog | Will OPEC’s Doha Deal Help Oil Prices?
Can Fiscal Policy Save the Economy?
Economists expect the Liberal government to step up with increased spending – but will it be enough? Sean explains how the government can help – and how their efforts can work alongside the Bank of Canada.
Read Sean’s Blog | Can Fiscal Policy Save the Economy?
Lots to Love About February Mortgage Rates
What’s in store for February mortgage rates? Check out this month’s forecast from RateSupermarket…
