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
Q3 2020 Bank Earnings – An Update on Big Bank Deferrals Sep 11th
The country’s Big Six banks provided an update on the state of their mortgage deferrals, with each reporting varying results in terms of getting those borrowers back to making regular payments. Both RBC and National Bank of Canada saw their mortgages under deferral drop substantially from Q2 t.... More »
How mature students can fund continuing education + MORE Aug 20th
VANCOUVER — When Kear Porttris decided to pursue a university degree in 2010, he had to contend with responsibilities that don’t cross the minds of many freshman straight out of high school, including paying his mortgage and feeding his daughter.
Mature students who re.... More »
Because not everyone fits into the same box Dec 11th
You might have seen the headline “HSBC crushes mortgage records with 0.99% variable rate”. No doubt about it, this is a great rate. However, it’s not for everybody. It is important to remember, like most deals, there are some restrictions. Among other things this offering is li.... More »
Long-term mortgage rates are falling. Is it time to lock in? + MORE Apr 4th
Locking in or not depends on many factors, experts say, including whether the penalties for breaking a current mortgage make sense and if you think rates are going up or down..... More »
Mortgage or retirement savings? Where to get the most bang for your extra bucks + MORE May 4th
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.
Mortgage or retirement savings? Where to get the most bang for your extra bucks - thestar.comContinue Reading On thestar.com »
The L.... More »
Prepare for a 10% minimum down payment
– moneysense.ca
The federal Department of Finance is seriously considering weighing in on Canada’s housing market by raising the minimum down payment on a home purchase from 5% to up to 10%. The announcement could come as early as January 2016.
According to RateSpy.com founder and independent mortgage broker Robert McLister, government policy-makers are considering a graduated minimum down payment threshold based on either the home value or the mortgage amount. Homes/mortgages under $500,000 would only require a 5% down payment, while those between $500,000 and $700,000 would require 7% down and anything over $700,000 would require 10% down.
Apparently, the rationale for this new graduated scale is two-fold:
→ Tougher lending requirements should help cool the housing market, particularly in red-hot Toronto and Vancouver.
→ It would also help minimize the exposure taxpayers have to insured mortgage default losses.
Currently, if a person buys a home with less than 20% down the lender is legally required to take out mortgage default loan insurance…
According to RateSpy.com founder and independent mortgage broker Robert McLister, government policy-makers are considering a graduated minimum down payment threshold based on either the home value or the mortgage amount. Homes/mortgages under $500,000 would only require a 5% down payment, while those between $500,000 and $700,000 would require 7% down and anything over $700,000 would require 10% down.
Apparently, the rationale for this new graduated scale is two-fold:
→ Tougher lending requirements should help cool the housing market, particularly in red-hot Toronto and Vancouver.
→ It would also help minimize the exposure taxpayers have to insured mortgage default losses.
Currently, if a person buys a home with less than 20% down the lender is legally required to take out mortgage default loan insurance…
Street Capital Financial
– canadianmortgagetrends.com
Company: Street Capital Financial Position: Senior Credit Analyst Location: Vancouver, BC Senior Credit Analyst Street Capital Financial is a Canadian-owned and operated residential mortgage lender. Street Capital lends through a mortgage broker specific origination channel. Street Capital is dedicated to growing loan origination through this channel and is committed to innovative product development. Our employees are focused on providing world class service to clients, business partners and referral sources. Purpose of Position: Primarily responsible for review and assessment of completed mortgage applications PRIOR TO FUNDING. Reviews require thorough evaluation of documentation, compliance to company policy guidelines, and assessing the quality READ MORE
Building the Right Team at Mortgage Time
– canequity.com
Your mortgage is one of the largest purchase items you will probably take on in your life. In making that commitment, you will most likely seek advice from several people: your family, your partner, your real estate agent, your financial planner and your mortgage broker.
Ensuring that you employ the best real estate professionals that you have access to – home buying professionals with your best interest in mind – will save you exponentially down the line. It takes a solid team to secure an optimal home.
Finding a well-connected Canadian mortgage broker is your first step. A mortgage broker will help you ascertain the true amount you can afford to spend on your new home, before you start shopping. A mortgage pre-approval will give you powerful buying power with home sellers, and will hold for you the best mortgage rates available, usually within 90 days. With one mortgage application, a mortgage broker will scout the Canadian mortgage market for you, and find the mortgage product that best suits your needs, be it through a bank, trust company, credit union, insurance company or private lender…
5 best financial moves a 40ish woman can make
– moneysense.ca
What’s the financial state of Canadian women in their 40s?
Chatelaine asked 1,000 Canadian women between the ages of 35 and 45 to share how secure they feel about themselves as part of their This is 40(ish) project. They asked them if they’re satisfied with where they are in their careers, how prepared they are for retirement and what they would do with a windfall of cash (among many, many other things).
The results? It turns out that more than half (52%) of women consider themselves “in a fairly good position” to retire, while only 9% feel that they are well-prepared for their golden years. Another 34% say that they plan to work forever. Retirement may not feel imminent to most women in their 40s, but by the end of this pivotal decade, it certainly will.
For most people, the 40s is when pay checks climb and debt tumbles, creating some welcome financial breathing room. However, there are plenty of big ticket savings items that women in their 40s must deal with: saving for their kids’ education and paying down their mortgage…
Chatelaine asked 1,000 Canadian women between the ages of 35 and 45 to share how secure they feel about themselves as part of their This is 40(ish) project. They asked them if they’re satisfied with where they are in their careers, how prepared they are for retirement and what they would do with a windfall of cash (among many, many other things).
The results? It turns out that more than half (52%) of women consider themselves “in a fairly good position” to retire, while only 9% feel that they are well-prepared for their golden years. Another 34% say that they plan to work forever. Retirement may not feel imminent to most women in their 40s, but by the end of this pivotal decade, it certainly will.
For most people, the 40s is when pay checks climb and debt tumbles, creating some welcome financial breathing room. However, there are plenty of big ticket savings items that women in their 40s must deal with: saving for their kids’ education and paying down their mortgage…
Not the Merriest Mortgage Season
– ratesupermarket.ca
RateSupermarket.ca’s Mortgage Rate Outlook Panel Forecasts Rising Fixed Rates
Sorry, mortgage shoppers – you won’t find many Black Friday or Boxing Day deals on your home financing this month; the fixed cost of borrowing is inching higher along with bond yields, prompting lenders to cut their once-sizzling discounts.
While jolly economic conditions south of the border will likely prompt a U.S. rate rise, the cheer won’t extend to Canada’s central bank; slow economic recovery will hold the Bank of Canada at status quo until well into 2017.
Fixed Mortgage Rates: Up
Mortgage shoppers and renewals will encounter slightly higher fixed mortgage rates this month as lenders face rising costs and lower demand. The impending U.S. Federal Reserve rate rise has thrown fixed rate pricing into flux as investors dump their bonds, driving funding costs higher. And, as the winter market approaches, lenders are less competitive with their off-peak season pricing.
Also read: 5 Reasons to Buy a Home in the Off Season>
Variable Mortgage Rates: Unchanged
The latest GDP numbers may reflect a 2…
Sorry, mortgage shoppers – you won’t find many Black Friday or Boxing Day deals on your home financing this month; the fixed cost of borrowing is inching higher along with bond yields, prompting lenders to cut their once-sizzling discounts.
While jolly economic conditions south of the border will likely prompt a U.S. rate rise, the cheer won’t extend to Canada’s central bank; slow economic recovery will hold the Bank of Canada at status quo until well into 2017.
Fixed Mortgage Rates: Up
Mortgage shoppers and renewals will encounter slightly higher fixed mortgage rates this month as lenders face rising costs and lower demand. The impending U.S. Federal Reserve rate rise has thrown fixed rate pricing into flux as investors dump their bonds, driving funding costs higher. And, as the winter market approaches, lenders are less competitive with their off-peak season pricing.
Also read: 5 Reasons to Buy a Home in the Off Season>
Variable Mortgage Rates: Unchanged
The latest GDP numbers may reflect a 2…
