New Rule Targets HELOC Holders Seeking a Second Mortgage + MORE Nov 9th

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.
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 line of credit

Why Do I Get Different Credit Scores from Different Websites in Canada? + MORE Dec 6th

Have you received a different credit score from a credit monitoring website than you did when applying for a car loan or mortgage? This isn’t just surprising for you: it’s a likely result. Canadians can use several free credit report sites to monitor their credit; they can also pay for .... More »
 loan

What’s the TRUE Impact of Policy Changes on the Canadian Mortgage Market? Dec 15th

It’s certainly not what the Bank of Canada (BoC) is claiming! The BoC recently released a document detailing what it believes to be a positive report on the Canadian Mortgage Market, but this article clearly shows how out of touch our government is. The BoC is applauding their statistics̷.... More »

The big question on mortgage borrowers’ minds: fixed or variable? Feb 15th

With variable mortgage rates potentially at a peak and fixed rates having recently retreated, borrowers are asking themselves the age old mortgage question: should you go fixed or variable?.... More »

70% of Scotiabank’s mortgage originations in Q1 were multi-product deals + MORE Mar 1st

Scotiabank is reporting success in its efforts to grow its deposits and increase profitability by doing more cross-selling to new mortgage clients..... More »

Latest in Mortgage News: Canada’s Housing Market Not a Bubble…Yet: BMO Feb 15th

Despite concerns about ever-rising home prices, Canada's housing market still doesn't resemble a bubble, at least not yet..... More »
An increase in multi-unit projects such as condominiums, apartments and townhouses helped push the annual pace of housing starts in October higher, Canada Mortgage and Housing Corp. said Thursday.

Continue Reading On cbc.ca »

Buying a home is cheaper than renting. Don’t be intimidated!
Could 2018 be the year where the pessimists finally get their way? I hate to admit it, but this could be the year where buying a home may not be a good idea.
OK, just kidding!!!
But after years of seeing countless articles and posts about rising interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, NAFTA economic fears and Donald Trump (ok, Trump has nothing to do with this, but you can’t write an article these days without blaming him, right?!), does it still make sense to buy a home?
Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

And renting should scare the life out of you as rents are hitting ridiculous levels. (I have a client in Owen Sound, Ontario looking to buy because renting a house is costing $1,700/month… in Owen Sound!!)
Here are some numbers for you to consider
Today, a household annual income of $70,000 will qualify you for a $300,000 mortgage…

Continue Reading On canadamortgagenews.ca »

The word is out on a little-known policy used to qualify anyone with a HELOC who is applying for additional financing. Several of the Big Six banks have already adopted the policy, which requires applicants to prove they can afford the theoretical monthly HELOC payment based on the limit of that HELOC, rather than the […]

Continue Reading On canadianmortgagetrends.com »

A number of reports and surveys have been released over the past couple of weeks providing insight into everything from borrowing trends and consumers’ financial health to the current state of the real estate market. Here’s a recap of some of the most recent data releases:   One Fifth of GTA Refi Deals Now Through […]

Continue Reading On canadianmortgagetrends.com »

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