Canadian housing mortgage rates are all over the map. Don’t get trapped in an unnecessarily costly mortgage agreement.
Latest News
For mortgage-breakers, not enough information about TMI: Roseman + MORE Sep 29th
You may think you'll pay only three months' interest to leave a five-year mortgage before the due date. Think again..... More »
Young couple with 2 kids struggling on $84,000 a year + MORE Jan 31st
Eddie and Blair both work full time and have the usual gamut of mortgage, childcare and car expenses..... More »
I missed a mortgage payment. What happens now? + MORE Sep 20th
If you skip one month’s mortgage payment, then resume scheduled payments for six months, all six of those payments may be considered late..... More »
6 ways to pay off your mortgage faster + MORE Feb 16th
While the Bank of Canada has yet to raise their overnight rate—a rate that dictates what happens with variable mortgage interest rates—there are changes within the current Canadian mortgage climate.
In late 2016, TD Canada raised it’s variable rate mortgage—not just for new mortgage bus.... More »
What happens when your landlord misses mortgage payments? + MORE Jun 11th
You held up your end of the bargain and paid your rent on time—only to learn your landlord failed to keep up with mortgage payments and the home may need to be sold. Panic sets in, as you don’t know if you can continue to call this place your home. Experts say there are a number of ways thi.... More »
A Twist on Broker Splits
– canadianmortgagetrends.com
As the Internet intensifies mortgage rate competition, it seems like more brokers are competing on price than ever before. In turn, more brokers are using their commissions to buy down interest rates. This is exactly what you don’t want to hear if you’re a brokerage firm executive who relies on percentage-based splits/royalties. Increased use of […]
Protect yourself in an uncertain real estate market
– moneysense.ca
(Andy Ryan/Getty Images)No one knows exactly when, but everyone agrees that eventually mortgage rates will rise, and when they do, house prices will fall. Here’s how to protect yourself, whether you’re a seller, buyer, owner or real estate investor.
Sellers
If you’re selling your home next year and you want the best price, try to list by March. Not only will you capitalize on the historically strong spring housing market, you’ll probably capture the buyers scrambling to lock in before rates go up.
Buyers
Go ahead and buy in 2015 if you can afford it, but only if you’re buying for the long term. That’s because buying a house you may need to sell within five years is risky in this market. Remember that even a moderate cooling could mean a 10% drop in prices. On a $500,000 home, you would lose $50,000, plus you would lose another $30,000 or so in transactional costs, including land transfer taxes, real estate agent fees, and legal costs.
READ: Canadian real estate market outlook 2015»
Owners
If you’re considering refinancing your mortgage in the coming year, try and complete the application before the end of the second quarter—or June 30—when the first rate rise is expected to occur…
Mortgage Career: CMLS Financial Ltd.
– canadianmortgagetrends.com
Company: CMLS Financial Ltd. Position: Regional Manager, Business Development Location: British Columbia Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Mortgage Underwriter/Client Care Position Company Profile: Founded in 1974, CMLS Financial is one of Canada’s largest, independently owned mortgage services companies with offices across the country including […]
Canadian real estate market outlook 2015
– moneysense.ca
Buy a house. Don’t buy a house. Soft landing. Crash landing. As we start the new year, the question on everyone’s mind is: What can we expect from Canada’s housing market?Once again, experts agree that housing affordability is stretched, historically low interest rates will rise, and housing prices will drop. Rewind 365 days and you could be reading a forecast for 2014. But this time the experts agree: prices really will fall and it’s got everything to do with the recovery of the global economy.
Now, if the global economy were a ballgame we wouldn’t be in the World Series. Oil prices are depressed and Europe is still struggling with its credit crunch. But things are slowly improving in the U.S. and within Canada, and the important teams are still in the game: our employment rate is stable, oil prices are not (yet) low enough to cause real concern, and exports have picked up as the value of our dollar has dropped. All this leads most economists to believe we’ll see slightly higher bond and mortgage rates and a nation-wide cooling of the housing market over the next couple of years…
Mortgage Career: Dreyer Group Mortgages
– canadianmortgagetrends.com
Company: Dreyer Group Mortgages Position: Mortgage Underwriter/Client Care Position Location: South Surrey, British Columbia (Morgan Creek Office) Advertise your mortgage job opening today! Click here to post. Or browse CMT’s Mortgage Jobs Database. Mortgage Underwriter/Client Care Position Job Description Work Location: Head Office: South Surrey (Morgan Creek office) Submission Deadline: January 31, 2015 Start Date: […]
