Six Months was What it Took to Absorb Latest Mortgage Changes! Aug 19th

Interested in learning more about property mortgages in Canada? Look no further!
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My mission is to help keep mortgage consumers informed! + MORE Dec 9th

Many mortgage brokers and other sales/service professionals keep track of numbers to measure whether we’re on track for growth year-over-year. So, I did some math. Since becoming a broker in 2004, my team and I have successfully funded more than $920 million in mortgages. That’s a big n.... More »
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Looking Beyond the Big Banks: How Playing the Mortgage Field Could Save You Thousands Mar 3rd

When it comes to your mortgage, there’s no need to settle for the most obvious options. When the time comes to buy a house, most Canadians rely on only the ‘big six’ banks to find a competitive interest rate. An HSBC study from last year shows Canadians are among the least likel.... More »

From Mortgage Broker to Mayor Dec 12th

Saying that 43-year old mortgage broker Corinna Smith-Gatcke leads a busy life would be an understatement. She’s a wife, mother of two 9- and 12-year-old boys, one of Mortgage Advisor’s most successful agents with 110 closed transactions last year and three offices in Brockville, Kingston and Ke.... More »

Lessons From the 2018 Digital Mortgage Conference – Part I + MORE Sep 21st

“If you don’t view yourself as a technology company that does mortgages, you’re missing it.”—Bill Emerson, Vice Chairman, Quicken Loans   That quote encapsulated this week’s third annual Digital Mortgage Conference in Las Vegas. To compete in the next decade, brokers and lenders wil.... More »
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5 Quick Reasons Why You Should Buy a Home Now During the Off-Season + MORE Jan 11th

Though the real estate market is nowhere as hot as it was, let’s say, two years ago, the fact of the matter is that home prices are going down, and some people are still looking to buy. Rising interest rates and a stricter mortgage stress test may have led to a decline in affordability, but i.... More »
Six Months was What it Took to Absorb Latest Mortgage Changes!
Ever since the US 2008 sub-prime mortgage crisis, we’ve seen a never-ending string of change. Mortgage lending rules have become tougher and tighter. Underwriting is stricter and more thorough. (As usual, the government has not missed an opportunity to stick their nose into your business by making lenders ask for more income documentation.)
The rule of change is that it takes around six months for consumers to adjust.
We’ve seen this pattern many times. If you look back two years, in Vancouver, the provincial government brought in a 15% foreign buyer’s tax. Pessimists said the sky was falling and that this would destroy the housing market. I had a different opinion… I said it would return to normal within six months.
Sure enough, the housing market went soft and prices declined, temporarily. Then they rebounded and increased to new record heights.
We had another big change in Toronto when the Ontario government followed BC and imposed a 15% foreign buyer’s tax in 2017…

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