The numbers for Edmonton Housing are out this morning for January and February and it looks like Edmonton Home builders may be finally realizing that the market is a little softer than anticipated. CMHC report which I have attached to this blog shows that new home starts this year, so far, are down 1100 units. […]
YEG Home Builders May Be getting The Message Read More »
Interesting conversations always happen when we have a RECA audit, now called a review because audit offended some people, and this years was no exception. The conversation started around our responsibility to the borrower and what we can or can’t say to them in regards to their mortgage. The question is basically this “Do you
Is Your Mortgage Broker an Intermediary or Do They work For You… Read More »
When tough times put stress on families sometimes the end result is divorce. While no one ever wants to see this happen sometimes it is inevitable. Lately CMHC changed the rules about how much a house can be refinanced for, they have set the limit at 80% of the property value so that refinances would
Divorce & Mortgage – What Can Happen With the Mortgage after Divorce Read More »
Foreclosure rates in Alberta continue to rise as the long term effects of lower oil prices continue to be felt across the west. A recent trip to Ft McMurray highlighted the fact that more people than you think are in financial problem now that oil has settled in around the 40 dollar mark and shows
Foreclosure – How does it work and how can we help? Read More »
Over the last few months we’ve received information on where the markets have been for the last few years and where they are going over the next 24 months. Many have pointed out that low rates are here to stay for a while, although I would think not forever, we should comfortably be in the
What’s happening in Canadian Housing Markets? Read More »
Today there is no doubt that we enjoy some of the best mortgage rates in the last 50 years. Yes we are at an all-time low and that means that rates have only one way to go…up. Eight years ago I had a mortgage at a rate of 5.29% and it was painful to watch
What are the possibility of your mortgage increasing by 500 dollars? Read More »
Buying a home takes some planning and preparation work before you get to the point of actually signing on the dotted line. Making sure what you can qualify for is the first step in making sure things go smoothly. Here’s what you need to have provided your mortgage broker so that he or she can
Home Buying Tips — How To Ensure Your Purchase Goes Smoothly Read More »
With an aging Canadian population and the baby boomers having suffered several financial setbacks over their life span, as recently as 2008, reverse mortgages are becoming more popular every year. Home Equity Bank, a Canadian Schedule 1 bank, has some of the best products available to Canadians over 55 who have a lot of equity
Pros and Cons of Reverse Mortgages Read More »
That’s a good question, I feel that most days my job is extremely multi-faceted, I’m not just helping you get a mortgage. Here’s some of the multiple roles I play. First and foremost as a mortgage broker I work for you the consumer, Secondly it is my responsibility to see that we are getting you
What does a Mortgage Broker do? Read More »
There were times in Canada when interest rates were so high that Canadians had no choice but to take short term rates in hopes of saving a few dollars for as little as 6 month or a year. The one year fixed rate has been as volatile a product as any mortgage product over the
Canadian Mortgage Guide — 1 Year Fixed Mortgage Vs 5 Year Mortgage Rate Comparison Read More »