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
B.C. Rules Create Challenges for Creditor Life Insurance Apr 27th
About a year and a half ago, FICOM made a subtle but impactful rule clarification in B.C. The regulator stated that lenders must “play an active and substantial role” in creditor life insurance in order for mortgage brokers to be able to sell it to B.C. consumers. Basically, this means that th.... More »
Making sense of the markets this week: June 23, 2024 + MORE Jun 23rd
Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.
We’re building more houses—and prices are down!
On Monday, the Canada Mortgage and Housing Corporation announce.... More »
Mortgage Career of the Week + MORE Jul 1st
Company: Bello Mortgage Corp. Ltd. Position Title: Mortgage Agent/Broker Years of Experience Required: NA Licences Required: Mortgage Agent/Broker Location of Position: Anywhere in B.C. Applicants may contact: info@bellomortgage.ca Advertise your mortgage Read More.... More »
B.C. home sales to fall as interest rates rise, but prices stay strong: BCREA + MORE Mar 10th
VANCOUVER _ Real estate experts in British Columbia predict residential home sales will dip this year but remain well above the province’s 10-year average, although they warn rising interest rates could leave some B.C. households “vulnerable.”
The British Columbia Real Estate Assoc.... More »
2014 Canadian Mortgage Awards + MORE May 11th
Congratulations to the entire lineup of nominees and winners at last night’s CMP Canadian Mortgage Awards. The people and companies named this year were recognized for elevating their crafts beyond....... More »
Dominion Lending Centres Canada – 5 year Closed : 3.49% (-0.05%)
– ratesupermarket.ca
Dominion Lending Centres Canada 5 year Closed mortgage rate was changed on November 13, 2013
Sullivan Mortgage Group – 3 year Closed : 2.84% (-0.35%)
– ratesupermarket.ca
Sullivan Mortgage Group 3 year Closed mortgage rate was changed on November 03, 2013
True North Mortgage – 5 year Closed : 3.29% (0.15%)
– ratesupermarket.ca
True North Mortgage 5 year Closed mortgage rate was changed on November 15, 2013
Will CMHC Risk Fees Hurt Home Buyers?
– ratesupermarket.ca
Last Friday, it was announced the Department of Finance is implementing further measures to minimize taxpayer risk posed by the Canadian Housing and Mortgage Corporation, the Crown entity that provides high ratio home buyers with mortgage default insurance.
As of January 1, 2014, the CMHC must pay the Canadian government 3.25 per cent of their high-ratio mortgage insurance business, and 10 basis points (0.10 per cent) of their low ratio portfolio. Based on their Q3 results and projected future numbers (the CMHC currently ensures $560 billion in default insurance), it is estimated these new CMHC risk fees will cost $50 million annually.
However, the CMHC assures home buyers that a credit crunch isn’t in the cards, as the fees aren’t expected to cut into their bottom line. “We certainly don’t anticipate it to have any impact on the availability of mortgage funding, so we don’t see it as a material event,” said CMHC Chief FInancial Officer Brian Nash in a statement to reporters…
Wallison: Get Ready for the Next Housing Bubble
– online.wsj.com
Mel Watt is a long-time champion of mortgage quotas for affordable housing. Here we go again.
