Mortgage Rates

YEG Home Builders May Be getting The Message

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. […]

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Is Your Mortgage Broker an Intermediary or Do They work For You…

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

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Divorce & Mortgage – What Can Happen With the Mortgage after Divorce

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

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What are the possibility of your mortgage increasing by 500 dollars?

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

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Home Buying Tips — How To Ensure Your Purchase Goes Smoothly

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

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Pros and Cons of Reverse Mortgages

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

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Canadian Mortgage Guide — 1 Year Fixed Mortgage Vs 5 Year Mortgage Rate Comparison

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

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