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
Banks cutting variable mortgage rates to drum up business even as fixed rates rise + MORE May 18th
A number of Canadian lenders have slashed their variable mortgage rates in recent days, even as some of those same lenders are raising their fixed-rate mortgages..... More »
Why mortgage brokers are embracing ‘digital onboarding’ and not looking back Aug 9th
For much of the mortgage industry’s history, brokers required a mountain of paperwork from prospective clients to ensure they’d actually be approved by a willing lender..... More »
Changes to Canada’s Financial Landscape + MORE Jan 16th
From credit cards to your mortgage rate, there may be impending changes for your financial products this year – and the price of oil may be largely to blame. While the effects may be positive for some (cheaper gas and lower home prices are certainly reason to smile), the Bank of Canada warns .... More »
Regulator says B.C. mortgage brokers should disclose commissions + MORE Feb 15th
Brokers, who receive payment from lenders, argue disclosing those earnings to consumers will undermine confidence in the industry
.... More »
Do I really need life insurance? + MORE Mar 11th
Life insurance shouldn’t be one of those things you put off thinking about—because you (and the people who depend upon you) could need it at any time. But many do wonder if it’s worth the monthly premiums. But what about you, how do you know if it’s necessary for you? And why do we need life.... More »
The federal agency that backstops Canada’s housing market will make an announcement Friday that could affect the mortgage market and home buyers.
CMHC Announcement: 5 Potential Changes For The Mortgage Market
– ratesupermarket.ca
The Canada Mortgage and Housing Corporation, the Crown corporation that provides mortgage insurance to high-risk home buyers, is to make an announcement tomorrow at 11 a.m. EST.
While the topic du jour has yet to be revealed, the impending statement has set the mortgage industry buzzing – will CMHC’s announcement alter the Canadian mortgage landscape or further restrict home buyers’ purchasing power?
It wouldn’t be the first time the CMHC would be used to restrict the mortgage market. Finance Minister Jim Flaherty has used the crown corporation four times already to introduce change, most recently last summer when the maximum for high-ratio (less than 20 per cent down paid) mortgages was cut from 25 years to 20, and the debt ratio requirements for mortgage qualification were tightened.
While we can only speculate what new developments are in store, here are a few choice possibilities… and the impact they could have on Canadian home buyers.
Scenario 1: CMHC Will Hike Insurance Premiums
Everyone who pays less than 20 per cent down on their home purchase must take out mortgage default insurance, which covers the lender’s losses should owners not make their mortgage payments…
Mortgage Career of the Week
– canadianmortgagetrends.com
Company: MBT (mortgagebrokerteam.ca Inc.) Position Title: Mortgage Broker / Agent Years of Experience Required: Preferably 2+ (not required) Licences or Registrations Required: Yes Location of Position: British Columbia & Alberta…
Online Mortgages Exploding in the U.S.
– canadianmortgagetrends.com
The volume of mortgages sourced on the Internet shot up 75% last year in the U.S. Branch-sourced mortgages dropped 16%. These numbers reflect a clear trend and they are not…
