CMHC has brought to the forefront the need for affordable housing by allowing not only Vancouver and Toronto but for all of Canada to get a 100% offset for a secondary suite. The secondary suite has been discussed in every major city in Canada where housing affordability has been eroded by the high cost of […]
CMHC Allows 100% Rental Offset For Legal Suites — Is That Change Significant? Read More »
Today’s announcement from the Bank of Canada signals the second cut this year. Governor Poloz stayed away from saying the word recession but 6 months of declining productivity would indicate a definite slow down. If you have a variable rate mortgage and are tied to prime you would think we would have seen a more
What does the Bank of Canada Rate Change Mean For You and Your Mortgage Read More »
Renewing your mortgage early can have many advantages especially in the current markets. There are many things to consider before making this financial decisions and seeking professional advice from a mortgage broker is a good decision. Should You Make the Move? First let us look at the decision to make the move, will it save
Mortgage Renewal Tips — Should You Renew Your Mortgage Early Read More »
So many of you will not recall 1981 mostly because you weren’t born or were too young to care about mortgages and what the interest rates were. In 1981 interest rates on a mortgage were 19.75%, yup the same as a credit card. It was a great time to be having money in bonds as
So How Does Today’s Mortgage Payment Compare To 1981 Read More »
CMHC’s latest trends show that 48% of first time home buyers are looking to mortgage brokers for their mortgages. This reflects I believe the changing of the guard if you will, of how today’s generation believes that on line is the way to start your search. This is a change that is happening as their
First Time Home Buyers Looking to the Mortgage Broker Channels Read More »
Fraud is such a dirty word in today’s business world, it has the feel of under world behaviour that all societies fear. Sometimes fraud happens because people don’t know that they are committing it just by the simple act of omission. In almost 10 yrs of mortgage brokering and hundreds of millions of dollars of
What is Mortgage Fraud Read More »
Occasionally you will see mortgage rates that seem too good to be true and sometimes they are but how do the lenders make these rates look so good. Here’s a list of things you should watch for when mortgage shopping that can make a mortgage rate seem lower: Mortgage rates can be made to appear
6 Essentials to Watch for During Your Mortgage Shopping to Lower Mortgage Rates Read More »
Closing costs are one of the things that most first time buyers are unaware of; they are the costs of purchasing that come from the lawyers and the government when you purchase a home. The government in many but not all locations has something called land transfer taxes. The tax is applied to the purchase
Closing Costs — Are You Prepared for them? Read More »
Cash Back mortgages were once available for you to use as down payment. Sometime after 2010 when CMHC started all of their major changes this practice was discontinued. While cash back mortgages still exist they are now restricted on what they can be used for during your purchase. Cash back mortgages work like this: First
How Cash Back Mortgages Can Help With Home Expenses Read More »
Edmonton’s real estate market can be quite similar to Calgary’s as both cities employ a great amount of workers in the oil industry. When oil prices change, we both enjoy the good times and the bad times together. It can be thought provoking to compare how the change of oil prices may impact home values.
Oil Prices Dropping: Is There a Reason to Be Concerned about the Housing Market? Read More »