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Latest News
Big banks slash mortgage rates this week to reflect lower bond yields in Canada + MORE Jan 12th
Nearly all of the country's big banks slashed their advertised fixed mortgage rates this week, in some cases by as much as 70 basis points (or 0.70%)..... More »
The best way to fund your retirement + MORE Sep 7th
Q: I am 66 and retired with no defined benefit pension – just CPP and OAS. I do have RRSPs, both in savings and in mutual funds. I own my own home and it’s mortgage-free. I have some TD shares and Bell shares which are not within the RRSP portfolio.
My question is…in the future when I.... More »
Latest in Mortgage News: Big Banks Lowering their 5-year Fixed Rates Sep 20th
CIBC became the second Big 6 bank to cut its 5-year fixed mortgage rate today..... More »
Mortgages: The Digital Future Oct 7th
Most of the financial world is already heavily invested in online distribution. And then there’s the mortgage business. Our industry is scampering to catch up. But catch up it will…and soon. That was the vivid takeaway from last week’s 2nd annual Digital Mortgage Conference in San Francisco. I.... More »
How to avoid the underwater mortgage + MORE Mar 19th
(John Lund/Getty Images)
Q: I’ve read a lot about the possibility of first time home buyers ending up with an underwater mortgage? I’m not sure what this is, but it doesn’t sound good. Can you explain what an underwater mortgage is and how to avoid it?
— Trying to be responsible, Calgary.... More »
Tips for investing in syndicated mortgages
– moneysense.ca
(John Lund/Getty Images)Q: I’m concerned about the stock market these days, and I am looking to diversify my investments outside the stock market. I’ve recently seen a lot of advertisements for syndicated mortgage products. The ads promise returns of 8% or more with the principal investment “fully secured” through real commercial property titles. I’m assuming it’s all too good to be true, but I don’t quite know where to look for the catch.
— Syndicated mortgage catch, Calgary, Alta.
A: Syndicated mortgages offer investors the opportunity to participate in the financing of commercial real estate projects by lending money to a developer at a specified rate (usually 8-9%) and term (usually 2-5 years). The 8-9% returns are annualized and not compounded, so your compound annual rate of return will be less than 8%. There may also be a bonus payment at the end of the term depending on the success of the project.
The typical minimum investment is $25,000 to $30,000…
What you can learn from this Oscar Best Picture nominee
– moneysense.ca
They say you can learn a lot from the movies. This was especially true this year when Michael Lewis’s book The Big Short was made into a film. It was scintillating entertainment starring Ryan Gosling, Christian Bale and Steve Carrell, but also carried several empowering money tips to help us build our wealth without getting duped by get-rich-quick schemes. Here’s a few notable financial lessons we found in the 2016 Oscar best picture nominee that are worth making a part of your daily life:
1. A little financial literacy goes a long way
No one would say that learning the lingo of high finance is easy but The Big Short shows that even difficult financial concepts like credit default swaps, synthetic collateral debt obligations (CDOs) and sub-prime mortgages are easy to understand if you take the time to research them—and if you realize that irrational human behaviour often lies at the heart of all these get-rich-quick products. That’s why pop-star and actress Selena Gomez explaining synthetic CDOs brought home the point that finance isn’t that hard—especially if you’re keen on learning if there’s something in it for you…
1. A little financial literacy goes a long way
No one would say that learning the lingo of high finance is easy but The Big Short shows that even difficult financial concepts like credit default swaps, synthetic collateral debt obligations (CDOs) and sub-prime mortgages are easy to understand if you take the time to research them—and if you realize that irrational human behaviour often lies at the heart of all these get-rich-quick products. That’s why pop-star and actress Selena Gomez explaining synthetic CDOs brought home the point that finance isn’t that hard—especially if you’re keen on learning if there’s something in it for you…
Mortgage Career: Anthem Mortgage Group
– canadianmortgagetrends.com
Company: Anthem Mortgage Group Position: Fulfillment Specialist Location: Barrie, ON Apply to: info@anthemmortgage.ca Fulfillment Specialist Years of Experience Required: 1-3 Years Preferred Licences or registrations required? Licence Preferred General Duties Reporting to the Broker, the Fulfillment Specialist is responsible for ensuring that all conditions are met prior to closing. The Fulfillment Specialist is responsible for all interactions with the Lender, Lawyer, Appraiser, Realtor, Insurance and Client to cooperatively satisfy all conditions within a mortgage commitment. Primary Duties Include Managing files from the time it is committed by the underwriter until all of the conditions are met on the READ MORE
