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
Invest or pay off debt: A comprehensive guide for Canadians + MORE Jan 17th
Your net worth is calculated by taking your assets and subtracting your liabilities. Both investing and repaying debt can boost your net worth as a result. The question is: which is better? In our guide about paying off debt versus investing, we cover the options from a number of different perspecti.... More »
Is it the right time to buy a house? Yes. If you have answers + MORE Jul 8th
Housing market is tough to get into—prices are high, but interest rates are low, so how do you know if it’s the right time to buy?
The practical answer has little to do with mortgage rates or housing prices and everything to do with with where you see yourself in five to 10 years. Do you expe.... More »
Navigate through these uncharted waters in 2020 Jul 4th
In 2009 and 2010, for the first time ever we saw mortgage rates under 2.00%. That’s right, if you were in a variable rate mortgage, you had a rate under 2.00%. We were coming off the catastrophic US sub-prime mortgage crisis. The financial US scam that cost the world trillions of dollar.... More »
Develop your own plan + MORE Dec 24th
Steward Kinmond, 70, and Barbara Sibbald, 58, in front of their mortgage-free new-build, close to Parliament Hill. (Photography by Jessica Deeks)
Every morning, Barbara Sibbald and her husband Stewart Kinmond gaze out across their big backyard and watch the sunrise. Directly behind them is part of t.... 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 »
Builder mortgages
– mortgageshowdown.com
Builder mortgages can be a very large and encompassing area of mortgage lending. This article is about mortgage lending for home builders, more specifically lending low cost, flexible mortgage funds for their current completed homes that are in their inventory.
Many of our home builder clients have either larger commercial lines of credit to facilitate their home building expenses or obtain private builder financing or a combination of both. This creates a two fold challenge:
Many of our home builder clients have either larger commercial lines of credit to facilitate their home building expenses or obtain private builder financing or a combination of both. This creates a two fold challenge:
With builders’ lines of credit the challenge is our home builder clients run out of money as they continue to build. For example if a home builder has a $5 000 000 line of credit, he starts five new homes a month, and his average land and build cost is $400 000, he will run out of money in two and a half months.
With private builder mortgages, the challenge is that the cost for these funds is typically around 12% interest, so once the home is complete if the builder is still holding it, their profit margin decreases daily due to higher interest expenses…
Laurentian Bank Canada – 3 year Variable Closed : 3.00% (-0.2%)
– ratesupermarket.ca
Laurentian Bank Canada 3 year Variable Closed mortgage rate was changed on September 12, 2013
DUCA Financial Services – 4 year Closed : 3.29% (0.05%)
– ratesupermarket.ca
DUCA Financial Services 4 year Closed mortgage rate was changed on September 12, 2013
Bank of Montreal – 7 year Closed : 6.35% (0.4%)
– ratesupermarket.ca
Bank of Montreal 7 year Closed mortgage rate was changed on September 14, 2013
Global Housing Markets: How Does Canada Compare?
– ratesupermarket.ca
Canada’s housing market roller coaster is a regular headline topper – but how does it compare to property markets around the world? According to Scotiabank’s Global Real Estate Trends report, some of our global counterparts are strengthening, despite lingering post-recession economic woes.
“Despite the sluggish pace of economic activity and elevated financial market volatility, inflation-adjusted home prices strengthened year-over-year in the second quarter in the majority of countries we survey,” says Adrienne Warren, a senior economist at Scotiabank.
On The Home Front
In Canada, we’ve seen Q2 year-over-year inflation-adjusted home prices rise 2.5 per cent, as sales show no sign of slowing, despite economist warnings of a market downturn. Home prices are still within historical norms, but mortgage interest rates are slowly meandering upwards. This has led to economists to call for a slight cooling of the housing market next year thanks to “slowing job growth and the recent uptick in fixed mortgage rates…
