Interested in learning more about property mortgages in Canada? Look no further!
Latest News
Important week for mortgage rates could cost or save you thousands. Oct 31st
Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a greater than average number of real estate transactions. We also saw consumers taking advantage of these low rates by refinancing .... More »
New mortgage changes for 2024: Wider access to 30-year mortgages and more + MORE Sep 19th
Finance Minister Chrystia Freeland has announced changes to mortgage rules she says are aimed at helping more Canadians to purchase their first home.
“It is going to put the dream of home ownership in reach for more young Canadians,” Freeland told reporters Monday, announcing changes she sai.... More »
Should You Be Paying Your Mortgage Down Aggressively? May 12th
Last year a third of mortgage holders in Canada chose to pay their mortgages aggressively, which is to say they paid more than the amount required. And the numbers were higher for those who bought their properties after 2013. Instinctively it would make sense to pay off your mortgage as quickly as y.... More »
Rent is up, vacancy is down… rental properties make sense + MORE Feb 13th
Rental properties are a secure long-term investment. Note the emphasis on “long-term”.
Check out any seven-year period over the past 50 years (anyone who has read this news site knows that I always recommend buying and holding for at least seven years). Property values have almost alway.... More »
BREAKING NEWS: M3 Mortgage Group Acquires VERICO + MORE Sep 22nd
It’s one of the biggest broker channel acquisitions in Canadian history. M3 Mortgage Group is buying broker network VERICO Financial Group. M3, which already owns Multi-Prêts, Mortgage Alliance, Invis and Mortgage Intelligence, will control an estimated 40+% of the broker market when this is done.... 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…
