Blog
Housing and the Big, Bad Budget
Published on Fri, 22 Mar 2013 23:39:22 +0000
A lot has been said about Thursday’s budget announcement. From Flaherty’s shoe selection to a vague job-training program, many Canadian’s were left slightly confused following the much-anticipated announcement. With that being said, Flaherty’s eighth (and potentially final) budget announcement could have been worse, especially for the mortgage industry. Thursday’s budget included a tightening of controls [...]
What to Know Before You Get an Investment Property Mortgage
Published on Sat, 09 Mar 2013 20:56:06 +0000
Investing in property has long been a great way to diversify your portfolio and improve your long term returns. Unfortunately, recent rule changes have changed the playing field for many potential real estate investors. While buyers used to be able to purchase an investment property with very little down and still receive a great rate, [...]
Get a Better Rate: Five Questions to Ask Your Broker
Published on Fri, 01 Mar 2013 19:28:28 +0000
Mortgage brokers are expected to be honest when it comes to providing their customers with financial advice. It’s their job, after all, to find you the best possible rate based on your unique financial situation. But, as with any other position of authority, there are always a few bad apples in the bunch. If you’re [...]
Why a Bank Mortgage Might Not Make Cents
Published on Wed, 20 Feb 2013 16:33:49 +0000
It’s no secret that the banking industry operates in a regulatory environment. Bankers and advisors are required to adhere to strict rules and restrictions… except when it comes to mortgages. According to Samantha Gale, a former mortgage regulator with B.C.’s Financial Institutions Commission and chief executive officier of the Mortgage Brokers Association of British Columbia, [...]
Alternative Down Payment Funding Sources
Published on Thu, 31 Jan 2013 08:04:05 +0000
The theme for 2012 mortgage rules was pretty obvious: crack down on homebuyers who were looking to purchase a home with little money down. Changes barring cash-back mortgages by the Canada Mortgage and Housing Corp. made it clear that regulators wanted to dissuade cash-poor consumers from taking on more debt. Yet, even despite these changes, [...]
No Change in Bank of Canada Rate
Published on Wed, 30 Jan 2013 16:51:18 +0000
While the Canadian economy continues to grow at a slower pace than expected, last week’s release from the Bank of Canada wasn’t all doom and gloom. Consumer debt and the housing market finally appear to be stabilizing here in the Great White North, at the same time debt concerns in the United States and Europe have begun [...]
Listing This Spring? Sounds Like You Could Use a CMA
Published on Wed, 02 Jan 2013 15:39:26 +0000
Thinking about listing your property this spring? Then now’s the time to request a comparative market analysis (CMA) from your real estate agent. A CMA is an evaluation of listings and sale prices of similar houses in your neighbourhood. Similar to an appraisal in that it provides sellers with an estimate of their home’s market value, [...]
A Closer Look At Your Neighbourhood’s Housing Market
Published on Thu, 15 Nov 2012 20:19:59 +0000
The elusive soft landing has finally hit ground in Canada, as the latest reports from the Real Estate Association show a decrease in year-over-year sales. The real estate group found that sales were down 0.1% in October from September. Actual sales for October (without the seasonal adjustment) were down 0.8% from a year ago. While [...]
The Perks of Paying Off Your Mortgage Faster
Published on Tue, 13 Nov 2012 14:48:56 +0000
The amortizations gods have been good to Canadians over the past three years. Just 60 months ago, mortgage rates were nearly double what they are now, costing homeowners thousands of dollars in interest every year. In fact, if you were to compare interest costs in 2007 with today’s rates, you’d save over $100,000 in interest [...]
A Dragon Enters the Mortgage Biz
Published on Fri, 09 Nov 2012 15:02:19 +0000
Rumour has it that the mortgage business is about to get a little hotter, thanks to the addition of a Dragon. According to a tweet sent on Sunday from CBC’s Dragons’ Den star and investment superstar Kevin O’Leary, the Lang & O’Leary Exchange is getting into the mortgage industry via O’Leary Mortgages . O’Leary also released [...]
