Blogs

Blog Categories

Mortgage Market Updates and News

What to do, what to see? In Port Alberni, BC

Mortgage Market Updates and News

All about the Mortgage Changes

Posted on Oct 22, 2017 in Mortgage Market Updates and News

  If you’ve been following the real estate and mortgage news, you’re likely already aware that there are some significant mortgage changes coming in the... Continue Reading -->

What is CMHC insurance and what do I need to know about it?

Posted on Aug 14, 2017 in Mortgage Market Updates and News

CMHC or Canada Mortgage and Housing Corporation, is a topic I constantly get questions about. So what is CMHC? When is it required? What are the benefits? What are the costs?... Continue Reading -->

Exciting announcement!

Posted on Aug 13, 2017 in Mortgage Market Updates and News

If you’re reading this blog post, you probably already know me somewhat. You should know I’m a mortgage broker (because you’re reading a mortgage blog), but... Continue Reading -->

Quick Tips to Improve Your Credit

Posted on Apr 27, 2017 in Mortgage Market Updates and News

  It's no secret credit is important. Having a low credit score can prevent you from a doing things; from setting up a cell phone account to getting a mortgage.... Continue Reading -->

Getting ahead with low mortgage rates

Posted on Apr 9, 2017 in Mortgage Market Updates and News

It's no secret we've been going through an extended period of unusually low interest rates. While on the surface it seems great for buyers and people looking to refinance... Continue Reading -->

In case you thought a higher qualifying rate was the worst of the mortgage changes...

Posted on Oct 5, 2016 in Mortgage Market Updates and News

Are you just starting to take in the fact that you're going to be able to qualify for 22% less of a mortgage come October 17th? Well, unfortunately that's not the worst... Continue Reading -->

Mortgage changes will have huge impact - Please Share

Posted on Oct 3, 2016 in Mortgage Market Updates and News

If you've been shopping for a home the past few months, now may be the time to move on your purchase.  In an effort to keep... Continue Reading -->

Your road to mortgage freedom

Posted on Jun 4, 2015 in Mortgage Market Updates and News

Paying off your mortgage may be the best investment you can make. A survey conducted in 2013 by Canada Mortgage and Housing Corporation (CMHC) found that 68% of homeowners felt they... Continue Reading -->

The Value of Working with a Mortgage Professional

Posted on May 5, 2015 in Mortgage Market Updates and News

The Value of Working with a Mortgage Professional The real estate and mortgage industry is a competitive business. Changes in lender policies have led to an altered mortgage... Continue Reading -->

Letter to David Chesney - City Councillor in White Rock Re: Pregnancy Comments

Posted on May 4, 2015 in Mortgage Market Updates and News

Dear Mr Chesney,   I recently took the liberty of listening to your entire interview on The Goddard Report. My first comment to you is that I absolutely love your ‘Community... Continue Reading -->

5 questions to help you decide whether to rent or buy a home

Posted on Jun 30, 2014 in Mortgage Market Updates and News

Libby Kane, Business Insider http://business.financialpost.com/author/bizinsiderfp/ Financial Post A home is one of the biggest financial commitments most of us will ever make... Continue Reading -->

Calgary’s housing market making a dramatic comeback

Posted on Jun 27, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The Calgary housing market is so hot that an economist reported Tuesday that only 15 condominiums... Continue Reading -->

Here comes the echo boomer to save the housing market

Posted on Jun 26, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post There’s a new kid in town ready to save Canada’s housing market and maybe even the economy... Continue Reading -->

What does the future hold for CMHC?

Posted on Jun 25, 2014 in Mortgage Market Updates and News

by Justin da Rosa http://www.mortgagebrokernews.ca/authors/justin-da-rosa-175698/ Mortgage Broker News The Canada Mortgage and Housing Corporation (CMHC) announced further changes... Continue Reading -->

OECD calls for Canada to shift mortgage risk from taxpayers to private-sector

Posted on Jun 24, 2014 in Mortgage Market Updates and News

Gordon Isfeld http://business.financialpost.com/author/fpgordonisfeld/ Financial Post OTTAWA • Despite aggressive moves by the federal government to limit consumers’... Continue Reading -->

Credit unions take on banks in mortgage wars with rates as low as 2.69%

Posted on Jun 23, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The latest salvo in mortgage rates wars among financial institutions appears to be coming from credit... Continue Reading -->

Vancouver realtors say there hasn’t been this much home buyer demand in three years

Posted on Jun 20, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Vancouver sales jumped 14% last month compared to a year ago but still remain 6.5% below the 10-year... Continue Reading -->

CMHC WON’T INSURE HOMES WORTH MORE THAN $1M

Posted on Jun 19, 2014 in Mortgage Market Updates and News

Canadian Press / June 6, 2014 Advisor.ca Canada Mortgage and Housing Corp. says it will no longer offer mortgage insurance for homes that cost $1 million or more, starting July... Continue Reading -->

How to prepare your home for a quick, profitable, summer sale

Posted on Jun 18, 2014 in Mortgage Market Updates and News

Melissa Leong http://business.financialpost.com/author/mwleong/ Financial Post After a brutal winter, the heat has finally arrived and with it, expectations of a hotter real... Continue Reading -->

Reverse mortgages rising fast to deal with retirement shortfalls

Posted on Jun 17, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post It could become a growing solution to our retirement savings problems, but opponents of reverse... Continue Reading -->

CMHC stops offering mortgage insurance to condo developers

Posted on Jun 16, 2014 in Mortgage Market Updates and News

Andrea Hopkins, Reuters  http://business.financialpost.com/author/reutersnp/ Financial Post TORONTO — Canada’s federal housing agency will no longer offer mortgage... Continue Reading -->

Mortgage interest never as easy to pay as now — as long as rates stay low, DBRS report shows

Posted on Jun 13, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ It hasn’t been this easy to pay the interest on your mortgage in almost 25 years. Credit rating agency... Continue Reading -->

How record low interest rates are helping us pay off our mortgages faster

Posted on Jun 12, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Record low interests rates are helping Canadians pay off their debt faster, but cheap borrowing costs are not enough... Continue Reading -->

Home prices moving at ‘uncomfortably hot pace’ in big markets

Posted on Jun 11, 2014 in Mortgage Market Updates and News

By Jamie Sturgeon Global News http://globalnews.ca/author/jamie-sturgeon/ Calls for a soft landing for the housing market appear on the mark this year, with sales and price gains... Continue Reading -->

Federal mortgage insurer reassures us, there’s no housing bubble

Posted on Jun 10, 2014 in Mortgage Market Updates and News

By Staff The Canadian Press OTTAWA – Canada Mortgage and Housing Corp. still sees a soft landing in Canada’s housing market future, with construction slowing further... Continue Reading -->

Scotiabank cuts fixed 5-year mortgage rate to 2.97%, lowest among the big banks

Posted on Jun 9, 2014 in Mortgage Market Updates and News

Romina Maurino, Canadian Press http://business.financialpost.com/author/canadianpressnp/ The Financial Post TORONTO — Scotiabank is the latest lender to create waves in... Continue Reading -->

Mortgage interest never as easy to pay as now — as long as rates stay low, DBRS report shows

Posted on Jun 6, 2014 in Mortgage Market Updates and News

BY GARRY MARR, FINANCIAL POST National Post It hasn’t been this easy to pay the interest on your mortgage in almost 25 years. Credit rating agency DBRS Inc. has been... Continue Reading -->

Renovator's Green-Guide - Decks and Patios

Posted on Jun 5, 2014 in Mortgage Market Updates and News

CMHC Consumer Newsletter In 2011, $63 billion was spent in the renovation sector in Canada, exceeding new home construction expenditures by approximately $20 billion. As housing... Continue Reading -->

Make sure you qualify for a mortgage

Posted on Jun 4, 2014 in Mortgage Market Updates and News

TMG The Mortgage Group So, you can afford your desired mortgage payment, but do you qualify for it? There are a lot of factors that a lender considers when deciding to give you... Continue Reading -->

Five Questions You Need to Ask Yourself Before Buying a Home

Posted on Jun 3, 2014 in Mortgage Market Updates and News

The Upshot The New York Times One of the pleasures of being an economics writer is that friends and acquaintances routinely ask me: “Should I buy a house?” And... Continue Reading -->

In depth: How financially independent are young adults?

Posted on Jun 2, 2014 in Mortgage Market Updates and News

ROB CARRICK AND ROMA LUCIW http://www.theglobeandmail.com/authors/rob-carrick http://www.theglobeandmail.com/authors/roma-luciw The Globe and Mail Everyone has a theory on how... Continue Reading -->

Rising real estate prices and low interest rates keep Canadian households upbeat

Posted on May 30, 2014 in Mortgage Market Updates and News

Bloomberg News http://business.financialpost.com/author/bloombergnp/ Financial Post The share of Canadians who are predicting higher home prices in their neighborhood remained... Continue Reading -->

Loyalty doesn’t pay when it comes to mortgage renewals

Posted on May 29, 2014 in Mortgage Market Updates and News

A Bank of Canada study found that loyal bank customers don’t get best deal when they renew mortgage. People who switch and first-time buyers do. By: Adam Mayers Personal Finance... Continue Reading -->

B.C. housing demand to grow: CMHC

Posted on May 28, 2014 in Mortgage Market Updates and News

By Emma Crawford Hampel Business Vancouver http://www.biv.com/article/20140522/BIV0111/140529969/-1/BIV/bc-housing-demand-to-grow-cmhc Demand for housing in British Columbia... Continue Reading -->

Leaky condo crisis rears its head again in B.C.

Posted on May 27, 2014 in Mortgage Market Updates and News

Buildings that weren’t fixed earlier now face even costlier repairs By Derrick Penner, Vancouver Sun Read more: http://www.vancouversun.com/technology/Leaky+condo+crisis+rears+head+again/9871711/story.html#ixzz33D26daDn Evidence... Continue Reading -->

Don Cayo: B.C.’s Property Transfer Tax could be made less harmful

Posted on May 26, 2014 in Mortgage Market Updates and News

Burden can be a budget-buster for home buyers By Don Cayo, Vancouver Sun Read more: http://www.vancouversun.com/business/Cayo+Property+Transfer+could+made+less+harmful/9872129/story.html#ixzz33D0aK6Gv The... Continue Reading -->

Spring selling season gets off to limp start as Canada’s home prices gain least since recession

Posted on May 23, 2014 in Mortgage Market Updates and News

Reuters http://business.financialpost.com/author/reutersnp/ Financial Post TORONTO — Canadian resale home prices rose in April, but the start of the hotly anticipated spring... Continue Reading -->

A mortgage rate below 2% — but be ready for some surprises

Posted on May 22, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Investors Group 1.99% variable mortgage rate has a few surprises Editor’s note: The following... Continue Reading -->

Homebuilding rebounds quicker than expected with 35% jump in condos and apartments

Posted on May 21, 2014 in Mortgage Market Updates and News

Leah Schnurr, Reuters http://business.financialpost.com/author/reutersnp/ Financial Post TORONTO — New home construction in Canada picked up in April, shaking off the effects... Continue Reading -->

How is a sub 2% mortgage rate even possible?

Posted on May 20, 2014 in Mortgage Market Updates and News

John Greenwood and Garry Marr http://business.financialpost.com/author/johngreenwood/ http://business.financialpost.com/author/garrymarr/ Financial Post So how is it possible... Continue Reading -->

Mortgage rates in Canada just fell below 2% from lenders

Posted on May 19, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Investors Group rolls out 1.99% variable rate mortgage If you thought mortgage rates could not... Continue Reading -->

The houses that don’t sell

Posted on May 16, 2014 in Mortgage Market Updates and News

Even in Toronto’s hot housing market, buyers aren’t always buying it. By: Susan Pigg Business Reporter http://www.thestar.com/authors.pigg_susan.html The Star Two... Continue Reading -->

CMHC sees amount of mortgages it insures shrinking this year amid tighter housing market rules

Posted on May 15, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The nation’s largest provider of mortgage default insurance keeps shrinking and that seems... Continue Reading -->

Homebuilding rebounds quicker than expected with 35% jump in condos and apartments

Posted on May 14, 2014 in Mortgage Market Updates and News

Leah Schnurr, Reuters http://business.financialpost.com/author/reutersnp/ Financial Post TORONTO — New home construction in Canada picked up in April, shaking off the effects... Continue Reading -->

Hating Homeownership

Posted on May 13, 2014 in Mortgage Market Updates and News

By Barry Ritholtz http://www.bloombergview.com/contributors/barry-l-ritholtz Bloomberg View U.S. homeownership falls to the lowest levels in almost 20 years, blared the headlines.... Continue Reading -->

Updates on Stated Income & Second Home Programs

Posted on May 12, 2014 in Mortgage Market Updates and News

Rob McLister, CMT info@canadianmortgagetrends.com Canadian Mortgage Trends www.canadianmortgagetrends.com May 02, 2014 Updates on Stated Income & Second Home Programs CMHC... Continue Reading -->

Land transfer tax carries huge costs for Toronto, report says

Posted on May 9, 2014 in Mortgage Market Updates and News

Study commissioned by Ontario Real Estate Association claims municipal home sales levy has led to a $2.3B drop in economic activity, and repealing it would create thousands of jobs. By:... Continue Reading -->

Be careful before you break that mortgage

Posted on May 8, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Low mortgage rates tempt, but penalties for breaking can be high You want some of these record... Continue Reading -->

How to give Grandma or Grandpa more than just a spare room

Posted on May 7, 2014 in Mortgage Market Updates and News

Beth Pinsker, Reuters http://business.financialpost.com/author/reutersnp/ Financial Post NEW YORK — When it came time for Tom Moser and his wife to consider having his... Continue Reading -->

Mike Holmes: A well-maintained house pays back in many ways

Posted on May 6, 2014 in Mortgage Market Updates and News

Mike Holmes http://life.nationalpost.com/author/mikholmes/ National Post Homeowners frequently ask me what they should do to make their homes more valuable. But what does “valuable”... Continue Reading -->

Close your home purchase on a Wednesday: Weisleder

Posted on May 5, 2014 in Mortgage Market Updates and News

Why Friday is the worst day to take possession, and other tips on making your real estate deal go more smoothly. By: Mark Weisleder Real Estate http://www.thestar.com/authors.weisleder_mark.html The... Continue Reading -->

Cash-back mortgages: A deal from your bank that regulators are not keen on

Posted on May 2, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post It’s the last refuge of those who don’t have money, but still want to own a home. The... Continue Reading -->

Mini or maxi mortgage reforms in store for Canada?

Posted on May 1, 2014 in Mortgage Market Updates and News

Finn Poschmann, Special to Financial Post http://business.financialpost.com/author/specialfp/ Financial Post Minor reforms from the Office of the Superintendent of Financial... Continue Reading -->

Vancouver home sales jump 30% in January from a year ago, board warns people to ‘price’ home right

Posted on Apr 30, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The message from realtors in Canada’s most expensive city is clear — price your home... Continue Reading -->

CMHC’s move to hike mortgage insurance premiums prompts competitors to follow

Posted on Apr 29, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The cost of mortgage default insurance is about to go up for most consumers after competitors moved... Continue Reading -->

New mortgage guidelines push CMHC to embrace insurance basics

Posted on Apr 28, 2014 in Mortgage Market Updates and News

John Greenwood http://business.financialpost.com/author/johngreenwood/ Financial Post The Canada Mortgage and Housing Corp. was created by the federal government nearly 70 years... Continue Reading -->

CMHC cutting back on what it covers with mortgage default insurance

Posted on Apr 25, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Canada Mortgage and Housing Corp., the Crown corporation that controls the vast majority of mortgage... Continue Reading -->

How badly would you be hurt in a housing market price correction?

Posted on Apr 24, 2014 in Mortgage Market Updates and News

ROB CARRICK http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail A question for everyone who thinks houses are an investment: How much would a market decline hurt... Continue Reading -->

Mortgage shopping? Two stars and four dogs from today’s market

Posted on Apr 23, 2014 in Mortgage Market Updates and News

ROBERT MCLISTER SPECIAL TO THE GLOBE AND MAIL Eight months ago, some were proclaiming the end of 2.99-per-cent five-year mortgage rates, for years to come. And now, low and... Continue Reading -->

Should you get pre-approved for a mortgage? Ten things to know

Posted on Apr 22, 2014 in Mortgage Market Updates and News

ROBERT MCLISTER SPECIAL TO THE GLOBE AND MAIL Putting your full faith in a mortgage pre-approval is like betting on a heavy favorite in a horse race. You’ll probably win but... Continue Reading -->

Be careful before you break that mortgage

Posted on Apr 21, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Low mortgage rates tempt, but penalties for breaking can be high You want some of these record... Continue Reading -->

Could CMHC change its ‘one-size fits all’ mortgage insurance to reflect real risk?

Posted on Apr 18, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Buy a house with less than a 20% down payment and you have to get mortgage default insurance. There’s... Continue Reading -->

Leading economist calls out government on lack of information about mortgage market

Posted on Apr 17, 2014 in Mortgage Market Updates and News

Garry Marr and Gordon Isfeld http://business.financialpost.com/author/garrymarr/ http://business.financialpost.com/author/fpgordonisfeld/ Financial Post TORONTO/OTTAWA •... Continue Reading -->

Real estate market turning the corner as Canadian home sellers come out of hibernation: Royal Lepage

Posted on Apr 16, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Forget what you’re hearing about a declining housing market, prices are still going up, says... Continue Reading -->

Three key questions about Canada’s new mortgage insurance rules

Posted on Apr 15, 2014 in Mortgage Market Updates and News

TARA PERKINS http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail Canada's housing watchdog released a set of long-awaited guidelines for the country's... Continue Reading -->

Real estate sector applauds new mortgage rules

Posted on Apr 14, 2014 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail The real estate industry is breathing a sigh of relief after seeing the... Continue Reading -->

Calgary first-time homebuyers youngest in Canada

Posted on Apr 11, 2014 in Mortgage Market Updates and News

Average age on the rise, says BMO BY MARIO TONEGUZZI CALGARY HERALD CALGARY - The average age of first-time homebuyers in Canada is on the rise but they remain the youngest... Continue Reading -->

Here’s why paying off your mortgage isn’t always the best idea

Posted on Apr 10, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post It amounts to financial heresy to some conservative investors but paying down your mortgage early... Continue Reading -->

Don’t be fooled into mortgaging your home to buy stocks

Posted on Apr 9, 2014 in Mortgage Market Updates and News

Martin Pelletier http://business.financialpost.com/author/mpelletiernp/ The Financial Post Investors seem to have completely forgotten about the concept of risk thanks to a prolonged... Continue Reading -->

No collapse in Canada’s condo market, but not much growth either

Posted on Apr 8, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The report is sponsored by Canada’s largest private mortgage default insurer but it shows... Continue Reading -->

Ed Clark ‘supportive’ of Finance Minister Joe Oliver’s hands-off approach in mortgage wars

Posted on Apr 7, 2014 in Mortgage Market Updates and News

John Greenwood http://business.financialpost.com/author/johngreenwood/ Financial Post Toronto-Dominion Bank chief executive Ed Clark is throwing his support behind Finance Minister... Continue Reading -->

Could CMHC change its ‘one-size fits all’ mortgage insurance to reflect real risk?

Posted on Apr 4, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Buy a house with less than a 20% down payment and you have to get mortgage default insurance. There’s... Continue Reading -->

Leading economist calls out government on lack of information about mortgage market

Posted on Apr 3, 2014 in Mortgage Market Updates and News

Garry Marr and Gordon Isfeld | April 3, 2014 8:11 AM ET Financial Post http://business.financialpost.com/2014/04/03/leading-economist-calls-out-government-on-lack-of-information-about-mortgage-market/ TORONTO/OTTAWA... Continue Reading -->

Why low mortgage rates matter

Posted on Apr 2, 2014 in Mortgage Market Updates and News

Even small differences in payments can add up. Assumptions -you're buying a house at the average national price in February of $406,372 -you have a 5 per cent down payment -CMHC... Continue Reading -->

Five things to know about Canada's mortgage market right now

Posted on Apr 1, 2014 in Mortgage Market Updates and News

ROB CARRICK http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail Here are five things you need to know about the mortgage market as the spring home-buying season... Continue Reading -->

Is home ownership a financial priority for millennials?

Posted on Mar 31, 2014 in Mortgage Market Updates and News

TRACY HANES Special to The Globe and Mail www.theglobeandmail.com At 22 years of age, Victor Godinho has become a homeowner. He purchased a two-bedroom, 750-square-foot unit... Continue Reading -->

Bidding Wars – An Easy Fix

Posted on Mar 28, 2014 in Mortgage Market Updates and News

Article written by Boris Bozic on the 28 Mar 2014 in Mortgage  http://tothepointwithbozic.com/mortgage/bidding-wars-an-easy-fix I wonder if purchasers who went through the... Continue Reading -->

Think living in suburbia's cheaper? Think again

Posted on Mar 27, 2014 in Mortgage Market Updates and News

ROB CARRICK http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail There’s no refuge in the suburbs from Canada’s housing affordability problem. You... Continue Reading -->

Can you really afford that mortgage? Know your Real Life Ratio

Posted on Mar 26, 2014 in Mortgage Market Updates and News

ROB CARRICK http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail Someone ought to explain the facts of life to the nation’s bankers. They’re handing... Continue Reading -->

Canadian home sales defy expectations

Posted on Mar 25, 2014 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail Sales of existing homes in the Greater Toronto Area nudged up 2.1 per... Continue Reading -->

First-time home buyers’ average budget rises to $316,000: BMO

Posted on Mar 24, 2014 in Mortgage Market Updates and News

TORONTO — The Canadian Press The Globe and Mail A Bank of Montreal report on first-time home buyers says the average budget has increased to $316,100. That’s up nearly... Continue Reading -->

Finance Minister Jim Flaherty resigns from cabinet

Posted on Mar 21, 2014 in Mortgage Market Updates and News

Andrea Janus, CTVNews.ca Published Tuesday, March 18, 2014 4:12PM EDT Last Updated Tuesday, March 18, 2014 7:10PM EDT Finance Minister Jim Flaherty resigned his post Tuesday,... Continue Reading -->

Is home ownership a financial priority for millennials?

Posted on Mar 20, 2014 in Mortgage Market Updates and News

TRACY HANES Special to The Globe and Mail www.theglobeandmail.com At 22 years of age, Victor Godinho has become a homeowner. He purchased a two-bedroom, 750-square-foot unit... Continue Reading -->

Canadians score record wealth and a slightly easier time juggling debts

Posted on Mar 19, 2014 in Mortgage Market Updates and News

MICHAEL BABAD http://www.theglobeandmail.com/authors/michael-babad The Globe and Mail Canadians and debt Canadians are clearly getting the message and curbing their appetite... Continue Reading -->

Mortgage matters: know your terms and conditions

Posted on Mar 18, 2014 in Mortgage Market Updates and News

Be small-print savvy when it comes to something as important as your mortgage By: Kristin Kent The Star thestar.com Melanie McLister is answering tough questions from mortgage... Continue Reading -->

Paying off Your Mortgage May be Bad for Your Net Worth

Posted on Mar 17, 2014 in Mortgage Market Updates and News

INVESTING VERSUS MORTGAGE REDUCTION… HOW TO DO THE MATH See more at: http://blog.myreinspace.com/2014/02/paying-off-your-mortgage-may-be-bad-for-your-net-worth/?utm_content=bufferc5b80&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer#sthash.oPdUbLca.HnZKyMAA.dpuf By... Continue Reading -->

CMHC’s move to hike mortgage insurance premiums prompts competitors to follow

Posted on Mar 14, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The cost of mortgage default insurance is about to go up for most consumers after competitors moved... Continue Reading -->

How lower interest rates are making variable mortgages more tempting

Posted on Mar 13, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Consumers facing record housing prices are probably increasingly tempted to go with a floating rate... Continue Reading -->

More Canadians willing to enter bidding war to buy a home, with Toronto and Vancouver the hottest markets, says BMO survey

Posted on Mar 12, 2014 in Mortgage Market Updates and News

Canadian Press http://business.financialpost.com/author/canadianpressnp/ Financial Post More Canadians are willing to enter a bidding war and fight it out to secure a property,... Continue Reading -->

Increases Now Require STEPs at Scotiabank

Posted on Mar 11, 2014 in Mortgage Market Updates and News

Rob McLister,CMT Canadian Mortage Trends canadianmortgagetrends.com Scotiabank has eliminated blends and increases on regular mortgages. From this point forward, Scotia customers... Continue Reading -->

Demand for luxury homes still strong in Canada, real estate company says

Posted on Mar 10, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The luxury end of the Canadian housing market shows no signs of slowing down, at least according to... Continue Reading -->

Canadians’ ability to keep up with housing costs has improved, but that could change soon: RBC

Posted on Mar 7, 2014 in Mortgage Market Updates and News

Canadian Press http://business.financialpost.com/author/canadianpressnp/ OTTAWA — The Royal Bank of Canada says the ability of Canadians to keep up with housing costs... Continue Reading -->

Economy has thrown us some curve balls, Bank of Canada’s Murray says

Posted on Mar 6, 2014 in Mortgage Market Updates and News

BARRIE MCKENNA http://www.theglobeandmail.com/authors/barrie-mckenna The Globe and Mail A top Bank of Canada official is making an unusually candid admission: The economy is misbehaving. “The... Continue Reading -->

Floating rate mortgages tempting consumers

Posted on Mar 5, 2014 in Mortgage Market Updates and News

BY GARRY MARR The StarPhoenix, FINANCIAL POST Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage despite all the risks... Continue Reading -->

CMHC to Increase Mortgage Insurance Premiums

Posted on Mar 4, 2014 in Mortgage Market Updates and News

OTTAWA, February 28, 2014 — Following the annual review of its insurance products and capital requirements, CMHC will increase its mortgage loan insurance premiums for homeowner... Continue Reading -->

All About CMHC’s Mortgage-Insurance Premium Changes – Monday Morning Interest Rate Update (March 3, 2014)

Posted on Mar 3, 2014 in Mortgage Market Updates and News

by Dave Larock www.integratedmortgageplanners.com Last Friday Canada Mortgage and Housing Corporation (CMHC) announced that it will increase its mortgage-default insurance premiums,... Continue Reading -->

Average GTA house price hits $547,107 as market starts to thaw

Posted on Feb 28, 2014 in Mortgage Market Updates and News

By: Susan Pigg Business Reporter http://www.thestar.com/authors.pigg_susan.html The Star Listings showing signs of picking up as prices continue to soar The Toronto real estate... Continue Reading -->

Beacon Score Basics for Mortgage Hunters

Posted on Feb 27, 2014 in Mortgage Market Updates and News

Beacon Scores Beacon scores are a single number that summarizes your credit situation and shows lenders what kind of risk you're likely to be as a borrower. The article below is... Continue Reading -->

Neglect Not Thy Cost of Borrowing

Posted on Feb 26, 2014 in Mortgage Market Updates and News

Rob McLister, CMT Canadian Mortgage Trends http://www.canadianmortgagetrends.com/canadian_mortgage_trends/ Neglect Not Thy Cost of Borrowing Mortgage-Commandments That’s... Continue Reading -->

Painting a Picture of Penalties

Posted on Feb 25, 2014 in Mortgage Market Updates and News

Rob McLister, CMT mailto:info@canadianmortgagetrends.com Canadian Mortgage Trends http://www.canadianmortgagetrends.com/canadian_mortgage_trends/ A 1/10th percentage point rate... Continue Reading -->

Canadian house prices hit record high in January as Vancouver market surges

Posted on Feb 24, 2014 in Mortgage Market Updates and News

Andrea Hopkins, Reuters http://business.financialpost.com/author/reutersnp/ Financial Post TORONTO — Canadian home prices rose to a record high in January as Vancouver... Continue Reading -->

Home prices rise in January, economists still cautious

Posted on Feb 21, 2014 in Mortgage Market Updates and News

TARA PERKINS http://www.theglobeandmail.com/authors/tara-perkins REAL ESTATE REPORTER — The Globe and Mail Canadian home prices rose by more than economists expected in... Continue Reading -->

Deep freeze chills Canadian home sales in January, prices rise

Posted on Feb 20, 2014 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER  http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail The number of existing homes changing hands in Canada softened... Continue Reading -->

How Canada’s new immigration rules could slow high end real estate sales

Posted on Feb 19, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post Canada’s luxury housing market has already been impacted by changes to immigration policy... Continue Reading -->

Should RRSPs be a priority for struggling younger Canadians?

Posted on Feb 18, 2014 in Mortgage Market Updates and News

By David Friend The Canadian Press The Globe and Mail TORONTO — The pressure of RRSP season can be relentless, but advisors suggest young Canadians think carefully before... Continue Reading -->

Buying a house? Here’s how to get a big tax refund

Posted on Feb 17, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ The Financial Post The $25,000 Ottawa allows you take out of your retirement fund to buy your first home sure doesn’t... Continue Reading -->

Vancouver home sales jump 30% in January from a year ago, board warns people to ‘price’ home right

Posted on Feb 14, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ The Financial Post The message from realtors in Canada’s most expensive city is clear — price your... Continue Reading -->

Canada’s housing market overvalued by 10%, Toronto-Dominion Bank study finds

Posted on Feb 13, 2014 in Mortgage Market Updates and News

Michael Babad http://www.theglobeandmail.com/authors/michael-babad The Globe and Mail Housing market measures Deutsche Bank puts it at 60 per cent, others in the area of 30... Continue Reading -->

Mortgage Changes From The 2014 Budget

Posted on Feb 12, 2014 in Mortgage Market Updates and News

Rob McLister Canadian Mortgage Trends http://www.canadianmortgagetrends.com/canadian_mortgage_trends/ The just-released 2014 budget has both good and not-so-good news for mortgage... Continue Reading -->

5 things to know about renewing your mortgage

Posted on Feb 11, 2014 in Mortgage Market Updates and News

By Renée Sylvestre-Williams http://globalnews.ca/author/renee-sylvestre-williams/ Global News The Bank of Canada has kept the key interest rate steady and banks have been... Continue Reading -->

Demand for luxury homes still strong in Canada, real estate company says

Posted on Feb 10, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The luxury end of the Canadian housing market shows no signs of slowing down, at least according to... Continue Reading -->

Why are so many people saying nasty things about Canada's housing market?

Posted on Feb 7, 2014 in Mortgage Market Updates and News

Michael Babad http://www.theglobeandmail.com/authors/michael-babad The Globe and Mail Follow Michael Babad and The Globe's Business Briefing on Twitter. Home sales climb There... Continue Reading -->

What it would take for Canada's housing market to crash, and why Pimco says it won’t

Posted on Feb 6, 2014 in Mortgage Market Updates and News

Michael Babad http://www.theglobeandmail.com/authors/michael-babad The Globe and Mail Follow Michael Babad and The Globe's Business Briefing on Twitter. Pimco on housing The... Continue Reading -->

Buying a house? Here’s how to get a big tax refund

Posted on Feb 5, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Financial Post The $25,000 Ottawa allows you take out of your retirement fund to buy your first home sure doesn’t... Continue Reading -->

Should cash-strapped retired homeowners eye HELOCs or reverse mortgages?

Posted on Feb 4, 2014 in Mortgage Market Updates and News

Robert McLister http://www.theglobeandmail.com/authors/robert-mclister Special to The Globe and Mail You’re a senior citizen and you don’t have enough income to live... Continue Reading -->

How factory-built homes are shedding their ‘cheap’ label and exploding in popularity

Posted on Feb 3, 2014 in Mortgage Market Updates and News

Armina Ligaya http://business.financialpost.com/author/arminaligaya/ After more than three decades in her Toronto bungalow amid growing mildew problems in the 1940s-era home,... Continue Reading -->

Fitch changes tune on Canada’s ‘over-heated’ housing market

Posted on Jan 31, 2014 in Mortgage Market Updates and News

John Greenwood http://business.financialpost.com/author/johngreenwood/ Fitch Ratings which has argued that real estate in Canada is significantly overpriced now believes that... Continue Reading -->

Here we go again with dropping mortgage rates

Posted on Jan 30, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ TORONTO • Falling bonds yields could push mortgage rates lower in coming weeks as banks compete in the spring... Continue Reading -->

Why Canada’s cult of home ownership is in trouble

Posted on Jan 29, 2014 in Mortgage Market Updates and News

Rob Carrick http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail Despite all the financial obstacles they face, young adults have been eager believers in home... Continue Reading -->

TD trims mortgage rates after RBC, Scotiabank and BMO do the same

Posted on Jan 28, 2014 in Mortgage Market Updates and News

Canadian Press http://business.financialpost.com/author/canadianpressnp/ TORONTO — Another big Canadian bank has lowered some of its mortgage rates slightly after an initial... Continue Reading -->

RBC mortgage rate cut unlikely to spur price war among major lenders, expert says

Posted on Jan 27, 2014 in Mortgage Market Updates and News

Canadian Press TORONTO — A move by Royal Bank to slightly decrease its fixed mortgage rates may have would-be homeowners wondering whether other banks may follow suit. But... Continue Reading -->

BoC Decision: Pleasantville for Variable Mortgagors

Posted on Jan 24, 2014 in Mortgage Market Updates and News

Rob McLister CanadianMortgageTrends.com http://www.canadianmortgagetrends.com/canadian_mortgage_trends/ Today’s Bank of Canada (BoC) interest rate decision was reassuring... Continue Reading -->

RBC mortgage rate cut likely not precedent-setting: expert

Posted on Jan 23, 2014 in Mortgage Market Updates and News

Romina Maurino, The Canadian Press TORONTO -- A move by Royal Bank to slightly decrease a number of fixed mortgage rates may prompt other banks to follow suit, but such changes... Continue Reading -->

Bank of Canada chief Poloz says rates on hold until economic data improves

Posted on Jan 22, 2014 in Mortgage Market Updates and News

Louise Egan and Randall Palmer, Reuters Financial Post http://business.financialpost.com/author/reutersnp/ OTTAWA • The Bank of Canada should keep its key interest rate... Continue Reading -->

Metro Vancouver housing market expected to remain stable in 2014

Posted on Jan 21, 2014 in Mortgage Market Updates and News

Wild price swings are a thing of the past, economists say By DERRICK PENNER, Vancouver Sun Read more: http://www.vancouversun.com/business/real-estate/Metro+Vancouver+housing+market+expected+remain/9347317/story.html#ixzz2qiOBIEt8 VANCOUVER... Continue Reading -->

Royal Bank quietly cuts some mortgage rates

Posted on Jan 20, 2014 in Mortgage Market Updates and News

Tara Perkins http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail Royal Bank of Canada, the country’s largest mortgage lender, has quietly cut some of... Continue Reading -->

What The Latest Employment Report Means for Mortgage Rates – Monday Interest Rate Update (January 13, 2014)

Posted on Jan 17, 2014 in Mortgage Market Updates and News

Dave Larock in Monday Interest Rate Update, Mortgages and Finance, Home Buying, Toronto Real Estate News Canadian bond yields fell sharply last Friday when Statistics Canada... Continue Reading -->

Bank rates for top borrowers to go under the ‘magnifying glass’

Posted on Jan 16, 2014 in Mortgage Market Updates and News

Republish Reprint John Greenwood   Since it was created more than two decades ago Canada’s version of Libor has grown rapidly in importance, now affecting pricing on... Continue Reading -->

Preventing and Thawing a Burst Pipe

Posted on Jan 15, 2014 in Mortgage Market Updates and News

The colder it gets, the more your pipes are at risk. Posted by Michael Dinan (Editor) Greenwich Patch http://greenwich.patch.com/ By Corey Fyke Bitter cold is expected to... Continue Reading -->

Canadian home prices edge higher in December

Posted on Jan 14, 2014 in Mortgage Market Updates and News

-Teranet Tue Jan 14, 2014 11:08am EST By Andrea Hopkins Jan 14 (Reuters) - Canadian home resale prices edged up in December and returned the Teranet-National Bank Composite House... Continue Reading -->

Talk of rising interest rates no reason for homeowners to panic

Posted on Jan 14, 2014 in Mortgage Market Updates and News

Romina Maurino The Canadian Press The Globe and Mail Talk of rising interest rates tend to make homeowners jittery and, if you have a big mortgage, you may be feeling extra... Continue Reading -->

Bank of Canada chief Poloz says rates on hold until economic data improves

Posted on Jan 13, 2014 in Mortgage Market Updates and News

Louise Egan and Randall Palmer, Reuters  More from Reuters OTTAWA • The Bank of Canada should keep its key interest rate on hold until economic data persuades it otherwise,... Continue Reading -->

Sellers to benefit in strong spring housing market: report

Posted on Jan 10, 2014 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail Real estate agency Royal LePage is expecting Canada’s housing... Continue Reading -->

Does real estate have anything left to give in 2014?

Posted on Jan 9, 2014 in Mortgage Market Updates and News

Republish Reprint Garry Marr At some point, there has to be a housing correction. Right? Some argue there was a correction in 2013, based on declining sales activity. But... Continue Reading -->

The rising tide of home ownership may have finally met its match

Posted on Jan 8, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ @DustyWallet Maybe there is one temptation out there to get Canadians to stop buying homes. Cheaper rent. Anyone... Continue Reading -->

Five Canadian mortgage market predictions for 2014

Posted on Jan 7, 2014 in Mortgage Market Updates and News

Robert McLister http://www.theglobeandmail.com/authors/robert-mclister Special to The Globe and Mail 1. New mortgage rules Expect more rule tightening in 2014 designed to reduce... Continue Reading -->

Four changes CMHC needs to make to rein in its mortgage market influence

Posted on Jan 6, 2014 in Mortgage Market Updates and News

BEN RABIDOUX Special to The Globe and Mail My nomination for the understatement of the year goes to Finance Minister Jim Flaherty, who in early December observed that “regrettably,... Continue Reading -->

Is 25 too young to save? Not if you actually want to retire on time

Posted on Jan 3, 2014 in Mortgage Market Updates and News

Romina Maurino The Canadian Press The Globe and Mail When 20-somethings look ahead to the new year, saving for retirement is unlikely to top their list of financial worries. But... Continue Reading -->

Canada’s housing market finishes 2013 on solid footing

Posted on Jan 2, 2014 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER http://www.theglobeandmail.com/authors/tara-perkins The Globe and Mail Canada’s housing market appears to have ended 2013 on a... Continue Reading -->

Women the new ‘wildcard’ in the condo market

Posted on Jan 1, 2014 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ www.financialpost.com Megan Vickell is a new brand of condominium owner that people predicting a market crash may... Continue Reading -->

Why downsizing in retirement doesn’t always work

Posted on Dec 31, 2013 in Mortgage Market Updates and News

By Dave Dineen, BrighterLife.ca If you’re planning for your retirement, you may assume that moving into a smaller home is an essential part of the process. But what looks... Continue Reading -->

Re/Max forecasts ‘exceptionally healthy’ real estate market in 2014

Posted on Dec 30, 2013 in Mortgage Market Updates and News

Canadian Press http://business.financialpost.com/author/canadianpressnp/ MISSISSAUGA, Ont. — Canada can expect an “exceptionally healthy” housing market in 2014... Continue Reading -->

Smart Tax Moves Homeowners Should Make Before 2013 Ends

Posted on Dec 30, 2013 in Mortgage Market Updates and News

Erin Carlyle, Forbes Staff  http://www.forbes.com/sites/erincarlyle/ Forbes With just three weeks left until 2014 and the holidays upon us, it’s a busy time of year.... Continue Reading -->

Reasons to Consider Reverse Mortgages:

Posted on Dec 27, 2013 in Mortgage Market Updates and News

By Victor Woods Reverse Mortgage Canada www.reversemortgageadvantage.ca/ Reverse Mortgages in Canada, Learn ALL the Facts, free guide book 1. Reverse mortgages provide an... Continue Reading -->

CHMC draws a line under condo bubble fears

Posted on Dec 26, 2013 in Mortgage Market Updates and News

Andrea Hopkins and Leah Schnurr, Reuters   Canadian condominium construction has surged but population growth has kept oversupply in check, the federal housing agency said... Continue Reading -->

Canadian housing sales showing‘surprising’ resiliency

Posted on Dec 25, 2013 in Mortgage Market Updates and News

Garry Marr http://business.financialpost.com/author/garrymarr/ Housing sales dipped slightly in November but the expected decline that was supposed to follow consumers rushing... Continue Reading -->

Should you help buy your kids a house?

Posted on Dec 24, 2013 in Mortgage Market Updates and News

Ted Rechtshaffen http://business.financialpost.com/author/fptedrechtshaffen/ One of the interesting factors supporting real estate growth is the role of financial support of parents... Continue Reading -->

Do early mortgage renewals save or cost you money?

Posted on Dec 23, 2013 in Mortgage Market Updates and News

Robert McLister http://www.theglobeandmail.com/authors/robert-mclister Special to The Globe and Mail A rate in the hand is worth two in the bush. Many mortgage lenders want... Continue Reading -->

Carrick on money: These condo frills will cost you money

Posted on Dec 20, 2013 in Mortgage Market Updates and News

Condo amenities that aren’t worth the money Almost every developer is offering “special” features to entice buyers. If your condominium has excessive amenities,... Continue Reading -->

The hidden trap of mortgage penalties at the big banks

Posted on Dec 19, 2013 in Mortgage Market Updates and News

ROB CARRICK http://www.theglobeandmail.com/authors/rob-carrick The Globe and Mail It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you... Continue Reading -->

Private mortgage insurers prod Ottawa to ensure CMHC raises premiums

Posted on Dec 18, 2013 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER The Globe and Mail Canada’s private mortgage insurers are pressing the federal government to get Canada Mortgage and Housing Corp.... Continue Reading -->

Canadian housing market not too hot, not too cold

Posted on Dec 17, 2013 in Mortgage Market Updates and News

Jonathan Ratner  http://business.financialpost.com/author/jratner/ Not too hot, not too cold, but ‘just right’ – the Goldilocks scenario that appears to be... Continue Reading -->

Mortgage Broker and You

Posted on Dec 16, 2013 in Mortgage Market Updates and News

As the mortgage rules have changed over these past few years, so has the role of a mortgage broker. While offering low... Continue Reading -->

Flaherty regrets massive growth of CMHC, vows mortgage action if needed

Posted on Dec 13, 2013 in Mortgage Market Updates and News

Bloomberg News Finance Minister Jim Flaherty said Friday he regrets that Canada’s housing agency has grown as large as it has and promised to take additional measures if... Continue Reading -->

The hidden trap of mortgage penalties at the big banks

Posted on Dec 12, 2013 in Mortgage Market Updates and News

ROB CARRICK The Globe and Mail It’s easy to get caught in the posted mortgage rate trap at the big banks. No, you won’t have to pay the posted rate on your next... Continue Reading -->

Mortgage stats and you

Posted on Dec 11, 2013 in Mortgage Market Updates and News

TMG The Mortgage Group http://blogger.mortgagegroup.com/2013/12/mortgage-stats-and-you.html Amortizations are falling, rate discounts are increasing and consumers have flocked... Continue Reading -->

The ultimate mortgage checklist: How to get the best possible deal

Posted on Dec 10, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail The Ultimate Mortgage Checklist The Rate 1. ____ Is the rate you’re quoting me the lowest I can possibly get, given my... Continue Reading -->

Think living in suburbia's cheaper? Think again

Posted on Dec 9, 2013 in Mortgage Market Updates and News

Rob Carrick The Globe and Mail There’s no refuge in the suburbs from Canada’s housing affordability problem. You can buy a house for less money in the suburbs... Continue Reading -->

One casualty of new restrictions could be 30-year mortgages

Posted on Dec 6, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail Since 2008, regulators have been trying to contain housing risk by piling on new mortgage rules, and bringing back some old ones.... Continue Reading -->

13 tips for selling your home in winter

Posted on Dec 6, 2013 in Mortgage Market Updates and News

Sure, there are fewer buyers and the skies are gloomy. So warm and brighten up the place; make it look like a refuge from the weather. By Bankrate.com What makes selling a home... Continue Reading -->

Canadian homes slip in affordability

Posted on Dec 5, 2013 in Mortgage Market Updates and News

TARA PERKINS  REAL ESTATE REPORTER — The Globe and Mail Higher mortgage rates and house prices have eroded the affordability of Canadian homes for the second quarter... Continue Reading -->

Could CMHC disappear over time?

Posted on Dec 4, 2013 in Mortgage Market Updates and News

Garry Marr http://business/financialpost/author/garrymarr Financial Post Imagine a world without Canada Mortgage and Housing Corp. Today you can walk into a financial institution... Continue Reading -->

Ottawa to introduce ‘risk fee’ on CMHC insurance

Posted on Dec 3, 2013 in Mortgage Market Updates and News

Andrew Mayeda, Bloomberg News Financial Post Canada will impose a “risk fee” starting Jan. 1 on mortgage insurance provided by the country’s housing agency to... Continue Reading -->

One casualty of new restrictions could be 30-year mortgages

Posted on Dec 2, 2013 in Mortgage Market Updates and News

ROBERT MCLISTER Special to The Globe and Mail   Since 2008, regulators have been trying to contain housing risk by piling on new mortgage rules, and bringing back some old... Continue Reading -->

Half of Canadian homeowners believe they’ll still be in debt when they retire, survey shows

Posted on Nov 29, 2013 in Mortgage Market Updates and News

Canadian Press TORONTO — About half of Canadian homeowners recently polled believe they’ll still be in debt by the time they retire. Family Finance: Will this couple... Continue Reading -->

Benefits of staying in touch with your mortgage broker

Posted on Nov 28, 2013 in Mortgage Market Updates and News

First National Financial LP Your mortgage broker is a great way to have an expert on your side throughout the life of your mortgage? Here's how they can help: A wealth of... Continue Reading -->

Annual State of the Residential Mortgage Market in Canada

Posted on Nov 27, 2013 in Mortgage Market Updates and News

November 2013 Significant Statistics A copy of the full report is available to download at www.caamp.org For homes purchased in 2013, 82 per cent had fixed rate mortgages.... Continue Reading -->

Canadian home sales drop most in a year as chances of rate hike fade

Posted on Nov 26, 2013 in Mortgage Market Updates and News

Theophilos Argitis, Bloomberg News Canadian existing home sales fell 3.2% in October from the previous month, the biggest drop in more than a year, as the prospect of lower-for-longer... Continue Reading -->

Canadian home prices inch higher, but tepid gain signals cooling market

Posted on Nov 25, 2013 in Mortgage Market Updates and News

Reuters Canadian home prices edged higher in October from the month before but the gain was lower than average, suggesting the market is cooler than usual, the Teranet-National Bank... Continue Reading -->

Jim Flaherty vows to intervene in housing market again if needed

Posted on Nov 22, 2013 in Mortgage Market Updates and News

Michael Babad The Globe and Mail Flaherty eyes housing Canada’s finance minister says he’ll intervene in the housing market for a fifth time, if that's... Continue Reading -->

Canadian housing starts climb, sparking fears market is overheating

Posted on Nov 21, 2013 in Mortgage Market Updates and News

Reuters Financial Post, www.financialpost.com TORONTO — Canadian housing starts rose more than expected in October and September starts were revised higher, according to... Continue Reading -->

What is the “Best Mortgage Rate”?

Posted on Nov 20, 2013 in Mortgage Market Updates and News

Rob McLister, CMT www.canadianmortgagetrends.com It’s not synonymous with the “lowest mortgage rate.” The best mortgage rate corresponds to the mortgage and... Continue Reading -->

Alternative mortgage lenders get boost from Canada’s resilient housing market

Posted on Nov 19, 2013 in Mortgage Market Updates and News

David Pett Financial Post www.financialpost.com Shares in three of Canada’s biggest alternative mortgage lenders look set to rise over the next year due to the ongoing resiliency... Continue Reading -->

Jim Flaherty says interest rates are heading higher regardless of central bank actions

Posted on Nov 18, 2013 in Mortgage Market Updates and News

Reuters   Interest rates are going to go up over the long term regardless of what central banks do at the moment, Finance Minister Jim Flaherty said on Thursday after the European... Continue Reading -->

Houses and hell: Why Canada isn’t on the fiery route

Posted on Nov 15, 2013 in Mortgage Market Updates and News

Republish Reprint Finn Poschmann, Special to Financial Post | 07/11/13 7:30 PM ET     Amid the mortgage market demons, Canada seems positively angelic   Sometimes... Continue Reading -->

Why Jim Flaherty’s budget goal means it’s time to go long on Canadian bonds

Posted on Nov 14, 2013 in Mortgage Market Updates and News

Theophilos Argitis, Bloomberg News More from Bloomberg News   Finance Minister Jim Flaherty’s efforts to balance Canada’s budget over the next two years are giving... Continue Reading -->

BUYING YOUR FIRST HOME, Tips for new homebuyers

Posted on Nov 13, 2013 in Mortgage Market Updates and News

Prepare for Canada, Canada’s online magazine for immigrant professionals www.prepareforcanada.com     Once you’ve decided to buy a home, there... Continue Reading -->

A score to settle, You’d be surprised what they’re using your credit score for.

Posted on Nov 12, 2013 in Mortgage Market Updates and News

by David Hodges Money Sense Magazine   In his 13 years as an insurance broker Bryan Yetman has regularly witnessed the havoc credit scores wreak on consumers. No case, however,... Continue Reading -->

Mortgage rates today are way below normal. Or are they?

Posted on Nov 11, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail   Finance Minister Jim Flaherty called Canada’s low interest rates an “anomaly” last week, echoing... Continue Reading -->

Canada could finally get ‘world price’ for oil after Alberta-B.C. agreement

Posted on Nov 8, 2013 in Mortgage Market Updates and News

Republish Reprint John Shmuel     A potential oil agreement between British Columbia and Alberta is very good news for Canada’s economy and currency, says the National... Continue Reading -->

Better off renting? The new economics for young adults

Posted on Nov 7, 2013 in Mortgage Market Updates and News

ROB CARRICK The Globe and Mail     The math of home ownership simply doesn’t work for some young people.   Take a young man we’ll call Neil, for example.... Continue Reading -->

CMHC cuts 2014 housing starts forecast, signalling slowing market

Posted on Nov 6, 2013 in Mortgage Market Updates and News

Andrea Hopkins, Reuters     TORONTO — Canada’s federal housing agency has bumped up its forecast for housing starts in 2013 but trimmed its forecast for 2014,... Continue Reading -->

Most boomers don't want to move from their homes in retirement, poll finds

Posted on Nov 4, 2013 in Mortgage Market Updates and News

BERTRAND MAROTTE The Globe and Mail     Aging boomers don’t want to move out of their homes as they head into retirement, according to the results of a new poll.   A... Continue Reading -->

Low-rate pledge revives fears of hard reckoning for Canada’s housing market

Posted on Nov 4, 2013 in Mortgage Market Updates and News

Andrea Hopkins, Reuters More from Reuters     TORONTO — The Bank of Canada’s surprising signal last week that it will not raise interest rates any time soon... Continue Reading -->

5 key things to consider when buying a resale home

Posted on Nov 1, 2013 in Mortgage Market Updates and News

By: Mark Weisleder Real Estate Toronto Star   The decision to buy a house is one of the biggest decisions you will ever make.   The decision to buy a house is one of... Continue Reading -->

5 Mistakes Inexperienced Homebuyers Make

Posted on Oct 31, 2013 in Mortgage Market Updates and News

RES Real Estate Simplified   It is completely natural to have a bit of trepidation when you area approaching the purchase of your first home. That is because there are a lot... Continue Reading -->

Flaherty won’t intervene in housing market but keeping close tabs

Posted on Oct 30, 2013 in Mortgage Market Updates and News

BILL CURRY OTTAWA — The Globe and Mail     Finance Minister Jim Flaherty says he has no intention of interfering in the housing market “at the time being”... Continue Reading -->

B.C. housing rally expected to continue through 2014

Posted on Oct 29, 2013 in Mortgage Market Updates and News

BRENT JANG VANCOUVER — The Globe and Mail     A rally in British Columbia’s housing market is expected to extend through 2014 as the provincial economy gathers... Continue Reading -->

Early Christmas present for first-time buyers

Posted on Oct 29, 2013 in Mortgage Market Updates and News

Written by  Grainne Burns Canadian Real Estate Wealth   The lending rules have changed, and now it’s time for mortgage default insurance premiums to fall in line... Continue Reading -->

Bank of Canada drops rate guidance, lowers growth forecast

Posted on Oct 28, 2013 in Mortgage Market Updates and News

Gordon Isfeld     OTTAWA — There has been a sea change at the Bank of Canada.   No longer are policymakers setting a specific monetary course. For the first... Continue Reading -->

Five smart ways to reduce your tax burden as year-end looms

Posted on Oct 25, 2013 in Mortgage Market Updates and News

TIM CESTNICK Special to The Globe and Mail The world of social media has given tax authorities a new method of identifying tax cheaters. Consider the example of Florida resident Rashia... Continue Reading -->

Existing home sales edge up in September, surge 18% from year ago: CREA

Posted on Oct 24, 2013 in Mortgage Market Updates and News

Canadian Press Financial Post   OTTAWA — Canadian home sales posted a small month-over-month increase in September as the national average sale price rose but the number... Continue Reading -->

Canada’s housing market begins to apply the brakes

Posted on Oct 23, 2013 in Mortgage Market Updates and News

Garry Marr More from Garry Marr   October sales could be the real test for the market as pre-approved mortgages, at rates long since gone from the marketplace but held in place... Continue Reading -->

Canada’s housing market shows continued muscle as sales climb

Posted on Oct 22, 2013 in Mortgage Market Updates and News

TARA PERKINS The Globe and Mail     The housing market’s strength continued in September, with sales of existing homes across Canada coming in 18.2 per cent higher... Continue Reading -->

No Bank of Canada rate hike ‘til 2016?

Posted on Oct 21, 2013 in Mortgage Market Updates and News

John Shmuel   In the span of a week, two banks have pushed back their forecasts of a Bank of Canada rate hike to 2016.   The latest one comes from Joshua Dennerlein, economist... Continue Reading -->

Why a Mortgage Broker is Your Best Option

Posted on Oct 18, 2013 in Mortgage Market Updates and News

Posted by: ON the GO Magazine in House and Home     Whether it’s your first time or your fifth time, shopping for a mortgage can often be confusing and even frustrating.... Continue Reading -->

Your Mortgage Broker and You

Posted on Oct 17, 2013 in Mortgage Market Updates and News

TMG The Mortgage Group   As the mortgage rules have changed over these past few years, so has the role of a mortgage broker. While offering low rates and access to the best products... Continue Reading -->

The ultimate mortgage checklist: How to get the best possible deal

Posted on Oct 16, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail Do you agree with this list?   The lowest possible rate is how many define a good mortgage. But that’s like judging the... Continue Reading -->

Home shoppers, don’t rush to buy just to lock in a cheap mortgage

Posted on Oct 16, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail   The idea that low mortgage rates are gone forever sent Canadian home shoppers into a panic this summer. Thousands rushed to use... Continue Reading -->

Mortgage referrals to banks could lead to conflicts of interest

Posted on Oct 15, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail   Has your real estate agent or financial adviser ever suggested that you go to a specific bank or broker for your mortgage? If... Continue Reading -->

Is that house really affordable? A reality check for first-time buyers

Posted on Oct 14, 2013 in Mortgage Market Updates and News

Rob Carrick The Globe and Mail   A year in the life of Canadian households:   Spending on water and sewer bills up 2.7 per cent. Spending on natural gas... Continue Reading -->

Canada's soaring real estate market: Feel good now, pay later

Posted on Oct 11, 2013 in Mortgage Market Updates and News

Rob Carrick The Globe and Mail   It’s a bad thing for Canada if housing prices keep rising.   Soaring house values are the most significant financial event of the... Continue Reading -->

When a condominium community goes to war, everyone loses. Here's how to avoid that.

Posted on Oct 10, 2013 in Mortgage Market Updates and News

By: Mark Weisleder   When a condominium community goes to war, everyone loses.   The owners lose trust in the board of directors’ ability to manage the condominium.... Continue Reading -->

Bank of Canada won’t raise interest rates until 2016: Scotiabank

Posted on Oct 9, 2013 in Mortgage Market Updates and News

Canadian Press | 03/10/13 1:24 PM ET   Why U.S. uncertainty could mean ultra-low rates for years — or even ‘decades to come’   With the U.S. government... Continue Reading -->

Canadian housing starts climb in September

Posted on Oct 8, 2013 in Mortgage Market Updates and News

By Andrea Hopkins   TORONTO Oct 8 (Reuters)   Canadian housing starts rebounded in September as multi-family construction surged, and the unexpectedly strong end to the... Continue Reading -->

Booming Vancouver housing market a matter of opinion

Posted on Oct 7, 2013 in Mortgage Market Updates and News

Garry Marr Financial Post     The country’s most expensive market is either red hot or still recovering. It depends on your vantage point.   If you compare... Continue Reading -->

Canada's soaring real estate market: Feel good now, pay later

Posted on Oct 4, 2013 in Mortgage Market Updates and News

ROB CARRICK The Globe and Mail                   It’s a bad thing for Canada if housing prices... Continue Reading -->

Nearly half of Canadians facing major illness struggle financially: poll

Posted on Oct 3, 2013 in Mortgage Market Updates and News

Romina Maurino TORONTO — The Canadian Press Globe and Mail   Nearly half of all Canadians facing a major health crisis, such as cancer or a stroke, are struggling... Continue Reading -->

What a U.S. government shutdown means for Canada

Posted on Oct 2, 2013 in Mortgage Market Updates and News

Gordon Isfeld   OTTAWA — Once again, Canada’s economy is being overshadowed by our big neighbour.   Despite data on Monday showing a strong rebound in growth... Continue Reading -->

Canadian Consumer Confidence Rises to Two-Year High on Housing

Posted on Oct 2, 2013 in Mortgage Market Updates and News

By Theophilos Argitis Bloomberg News   Canadian consumer sentiment climbed to the highest in more than two years as employment rose and the housing market remained buoyant,... Continue Reading -->

CREA: Canada’s home sales to beat expectations as buyers rush to lock in low rates

Posted on Oct 1, 2013 in Mortgage Market Updates and News

Canadian Press Financial Post   OTTAWA — The Canadian Real Estate Association raised its outlook Monday for homes sales this year as it reported a 11.1% jump in August... Continue Reading -->

Mortgage referrals to banks could lead to conflicts of interest

Posted on Sep 30, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail   Has your real estate agent or financial adviser ever suggested that you go to a specific bank or broker for your mortgage? If... Continue Reading -->

Quarter of Canadians spend more on housing than they can afford

Posted on Sep 30, 2013 in Mortgage Market Updates and News

Fiona Buchanan, Postmedia News Financial Post   OTTAWA — Joelle Gibson, 24, and her husband Stephen, 25, had to make sacrifices to find a rental property that suited... Continue Reading -->

Canada's Goldilocks housing market: ‘Balanced and well-behaved,’ pickup seen in 2014

Posted on Sep 27, 2013 in Mortgage Market Updates and News

Michael Babad The Globe and Mail   Follow Michael Babad and The Globe's Business Briefing on Twitter.   Home sales forecast to rise Canada’s housing market... Continue Reading -->

Mortgage fears drive up Canadian home sales

Posted on Sep 26, 2013 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER The Globe and Mail   Fears of higher mortgage rates are driving strong sales in a housing market that was on the ropes just a year ago.   August... Continue Reading -->

Self-employed? Prepare for a long conversation with your mortgage broker

Posted on Sep 25, 2013 in Mortgage Market Updates and News

Republish Reprint Danny Bradbury, Special to Financial Post   Getting financing isn’t as easy as it used to be, say mortgage brokers — and for the 15% of Canadians... Continue Reading -->

Does Canada have a housing bubble?

Posted on Sep 25, 2013 in Mortgage Market Updates and News

Michael Babad The Globe and Mail   Follow Michael Babad and The Globe's Business Briefing on Twitter.   Canada's housing market certainly appears frothy to some... Continue Reading -->

Vancouver house sales roar back

Posted on Sep 24, 2013 in Mortgage Market Updates and News

BRENT JANG VANCOUVER — The Globe and Mail   Greater Vancouver home sales roared ahead 52 per cent last month, raising the prospect of a new phase of stability... Continue Reading -->

Andrew Coyne: Canadians aren’t getting the whole story on the economy

Posted on Sep 23, 2013 in Mortgage Market Updates and News

Andrew Coyne   Here’s a headline you probably didn’t see: Canadians Have Never Been Richer. Or this one: Household Net Worth Rises To All-Time High. Or this: Canadians... Continue Reading -->

Self-employed? Prepare for a long conversation with your mortgage broker

Posted on Sep 19, 2013 in Mortgage Market Updates and News

Danny Bradbury, Special to Financial Post   If you’re self-employed and about to apply for a mortgage, be prepared for some serious form-filling. Getting financing isn’t... Continue Reading -->

Tips For When Buying a House

Posted on Sep 19, 2013 in Mortgage Market Updates and News

By Michelle Making Sense of Cents makingsenseofcents.com   When we bought our first (and current) house, our whole process went by very quickly and smoothly. Our mortgage company... Continue Reading -->

Bank of Canada says confidence in economy improving

Posted on Sep 19, 2013 in Mortgage Market Updates and News

Economy near 'tipping point,' governor Stephen Poloz says CBC News   The Canadian economy, thanks to more business confidence and stronger foreign demand, is close to... Continue Reading -->

Why there’s no reason to panic about rising rates

Posted on Sep 19, 2013 in Mortgage Market Updates and News

Garry Marr Financial Post   There is a simple answer to all this hysteria about mortgage rates going up. Don’t lock in your rate.   I know it’s almost heresy... Continue Reading -->

Rental properties: 8 things to know before becoming a landlord

Posted on Sep 18, 2013 in Mortgage Market Updates and News

By Jasmine Miller Styleathome.com     Rental properties are an excellent investment but they can be a lot of work. Here's what you need to know.   Converting... Continue Reading -->

Already record home prices rise further 2.3%, but no bubble seen

Posted on Sep 18, 2013 in Mortgage Market Updates and News

MICHAEL BABAD The Globe and Mail    Home prices climb Canadian home prices are at record highs as the real estate market rebounds, climbing 2.3 per cent in August from... Continue Reading -->

Consumers turned around the housing market

Posted on Sep 18, 2013 in Mortgage Market Updates and News

Garry Marr   August sales numbers seem to reflect the trend as they rose 2.7% from July on a seasonally adjusted basis. On a year over year basis, sales were up 11.1% in August.   Gerry... Continue Reading -->

5 similarities between real estate and investing

Posted on Sep 18, 2013 in Mortgage Market Updates and News

Martin Pelletier Financial Post   Having recently listed my home for sale in Calgary, I was surprised to discover quite a few similarities between the residential real estate... Continue Reading -->

Getting ready to sell? 10 staging tips to wow home shoppers

Posted on Sep 16, 2013 in Mortgage Market Updates and News

Lucie Brand Special to The Globe and Mail The following article is from Canadian Real Estate Wealth Magazine. Preparing any property for sale can be a daunting and often... Continue Reading -->

Real estate: Five signs that you are in over your head

Posted on Sep 15, 2013 in Mortgage Market Updates and News

Andrew Allentuck Financial Post   The question you must ask yourself, says Toronto psychotherapist Allen Fraser, is “should I admit that it is not going to work?”... Continue Reading -->

Canadian home prices rise more than expected on gains in Toronto, Calgary

Posted on Sep 13, 2013 in Mortgage Market Updates and News

Andrew Mayeda, National Post Wire Services     Canada’s new home price index rose 0.2% in July, led by gains in Toronto and Calgary, the government statistics agency... Continue Reading -->

Luxury home sales expected to heat up this fall, as high-end condo sales pick up in Toronto

Posted on Sep 12, 2013 in Mortgage Market Updates and News

Alexandra Posadzki, Canadian Press Financial Post   TORONTO — Sales of luxury homes will likely gain momentum in the fall, fuelled by demand from international investors,... Continue Reading -->

As rates rise, brace for mortgage renewal time

Posted on Sep 11, 2013 in Mortgage Market Updates and News

Rob Carrick The Globe and Mail   The era of pleasant surprises for people renewing their mortgages is over. After five years of trending lower, mortgage rates have reversed... Continue Reading -->

Can you afford to buy a house?

Posted on Sep 11, 2013 in Mortgage Market Updates and News

TMG The Mortgage Group www.blogger.mortgagegroup.com     With rising interest rates, overvalued real estate and a lackluster economy, are first time home buyers and average... Continue Reading -->

Home shoppers, don’t rush to buy just to lock in a cheap mortgage

Posted on Sep 11, 2013 in Mortgage Market Updates and News

Robert McLister Special to The Globe and Mail   The idea that low mortgage rates are gone forever sent Canadian home shoppers into a panic this summer. Thousands rushed to use... Continue Reading -->

Rising mortgages: The phantom menace of Canadian consumer debt

Posted on Sep 10, 2013 in Mortgage Market Updates and News

TARA PERKINS The Globe and Mail   Consumer debt numbers released this week tell an important story, but they do not include mortgages, the biggest component of household debt... Continue Reading -->

Why real estate doomsayers continue to be wrong

Posted on Sep 9, 2013 in Mortgage Market Updates and News

Christina Pellegrini The Financial Post   Mandy Coz needs a lead. She isn’t the first sales rep from a nearby real estate brokerage to cold call my parents’ home... Continue Reading -->

Top 3 reasons the Bank of Canada has turned dovish

Posted on Sep 6, 2013 in Mortgage Market Updates and News

By Pamela Heaven   The Bank of Canada held its benchmark interest rate at 1% Wednesday, extending its super-low rate run to three years. The hold was no surprise; it was the... Continue Reading -->

Paying off mortgage safer than investing the cash

Posted on Sep 6, 2013 in Mortgage Market Updates and News

Vancouver Sunncoube By Jim Yih, Postmedia News The Vancouver Sun   If the return on investment is greater than the interest cost on the mortgage, then the math would tip... Continue Reading -->

Regulator eyes tighter mortgage rules

Posted on Sep 5, 2013 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER The Globe and Mail     Canada’s banking regulator has been gathering detailed mortgage... Continue Reading -->

Getting ready to turn a new financial leaf

Posted on Sep 5, 2013 in Mortgage Market Updates and News

Melissa Leong Financial Post, Personal Finance     When Scott Plaskett sits down with his clients in September, he begins with a simple: “What’s... Continue Reading -->

No ugly downturn for condo market, even in Toronto: report

Posted on Sep 5, 2013 in Mortgage Market Updates and News

TARA PERKINS - REAL ESTATE REPORTER The Globe and Mail     A new report from the Conference Board of Canada predicts that the much-watched... Continue Reading -->

The Longevity Conundrum: Could Your Retirement Savings Last You to 120?

Posted on Sep 5, 2013 in Mortgage Market Updates and News

WalletPop Editor http://www.walletpop.ca/blog/bloggers/walletpop-editor/ By Matt Brownell     Medical science hasn't conquered death, but it's... Continue Reading -->

Well said Jon.. Time to educate clients on what that bank mortgage really entails

Posted on Jun 18, 2013 in Mortgage Market Updates and News

I couldn't have put it better myself.. In a recent MortgageBrokerNews article, an Ontario Mortgage Broker outlines an all to common situation his client is currently facing.... Continue Reading -->

Renewing your mortgage? Let's talk.

Posted on Jun 4, 2013 in Mortgage Market Updates and News

Renewing your mortgage? Let's talk Consumers are becoming much more informed about mortgages and mortgage products before taking the plunge into home ownership. According... Continue Reading -->

Canadians can cancel phone contracts without penalty after two years under new wireless code

Posted on Jun 3, 2013 in Mortgage Market Updates and News

In a surprise move Monday, Canada’s telecom regulator introduced a set of rules that could spell the end of much maligned three-year cellphone contracts in this country. The... Continue Reading -->

Small steps towards mortgage freedom

Posted on May 7, 2013 in Mortgage Market Updates and News

Good news! You can baby step your way to mortgage freedom and save thousands of dollars in interest in the process.  According to Scotiabank's Mortgage Landscape Study,... Continue Reading -->

Do home buyers need more cautions?

Posted on Apr 2, 2013 in Mortgage Market Updates and News

It seems many first-time home buyers are taking a wait-and-see attitude before jumping into the housing market. The question is: What are they waiting for?    In... Continue Reading -->

Is your Bank Manager really getting you the best rate?

Posted on Nov 22, 2012 in Mortgage Market Updates and News

"I've been with my bank 30 years, so they give me the best rate available and waive fees for me. Brokers cant compete with that." I hear this almost daily from potential... Continue Reading -->

Trying to cut down monthly expenses?

Posted on Nov 21, 2012 in Mortgage Market Updates and News

This is the time of year Canadians traditionally look at their finances to see where they can save money. Typically we look at our Shaw or Telus bill to see if we can cut it back... Continue Reading -->

What is the Condo Group?

Posted on Nov 16, 2012 in Mortgage Market Updates and News

In 2005, there were over 1000 Realtors, and they were split into two categories: Commercial and Residential. There were dozens of styles of residential properties, and the condo... Continue Reading -->

Will CMHC be Privatized?

Posted on Oct 28, 2012 in Mortgage Market Updates and News

Is it finally time to privatize CMHC? Finance Minister Jim Flaherty recently announced that he would like to see the default insurer privatized in the next five to 10 years. "We've... Continue Reading -->

How to buy a house when your credit rating’s been trashed

Posted on Oct 17, 2012 in Mortgage Market Updates and News

  More than one in eight adult Canadians will declare bankruptcy or negotiate a debt settlement - consumer proposal - with creditors. That’s a lot of people... Continue Reading -->

Why you should ask a Mortgage Broker to assist you with your mortgage

Posted on Oct 14, 2012 in Mortgage Market Updates and News

Buying a home is one of the biggest financial and lifestyle decisions you will make, so it pays to make an informed decision by first looking at the main disadvantages and... Continue Reading -->

Economist Predictions & Term Selection

Posted on Oct 10, 2012 in Mortgage Market Updates and News

No one truly knows where interest rates are headed. Yet, despite vast margins of error, all major financial institutions regularly publish rate predictions. If only we... Continue Reading -->

Insured Buyers are the Majority

Posted on Oct 9, 2012 in Mortgage Market Updates and News

Mortgage insurance is typically mandatory for homebuyers without 20% equity. Putting down 10% on theaverage $350,152 home, for example, means you’ll... Continue Reading -->

Mortgage Life Insurance - What you should know..

Posted on Oct 7, 2012 in Mortgage Market Updates and News

If you've ever had a mortgage, chances are you've been offered mortgage insurance. When it comes to mortgage insurance, I find the majority of people out there just sign... Continue Reading -->

Online Mortgage Calculator

Posted on Oct 5, 2012 in Mortgage Market Updates and News

if(typeof jQuery == "undefined"){document.write(unescape("%3Cscript src='" + (document.location.protocol == 'https:' ? 'https:' : 'http:') + "//ajax.googleapis.com/ajax/libs/jquery/1.7.1/jquery.min.js'... Continue Reading -->

If CMHC didn't exist..

Posted on Oct 3, 2012 in Mortgage Market Updates and News

If you’re a first-time home buyer, odds are that you don’t have a 20-per-cent down payment. Without one, you typically need mortgage default insurance to buy a... Continue Reading -->

The Value of a Mortgage Broker

Posted on Oct 2, 2012 in Mortgage Market Updates and News

The real estate and mortgage industry is a competitive business. Recent changes in policies have slowed down the market somewhat, but hasn't stopped it. Forecasts may point... Continue Reading -->

Why not shopping around can cost you money on your refinance.

Posted on Oct 1, 2012 in Mortgage Market Updates and News

Excellent article written by Rob Mclister of Canadian Mortgage Trends on the average mortgage consumer and how they cost themselves money by not shopping around further than... Continue Reading -->

Have you been misinformed on Mortgage Penalties?

Posted on Sep 28, 2012 in Mortgage Market Updates and News

There seems to be a lot of misinformation out there on mortgage penalties these days. With the government just beginning to attempt to level the playing field a bit, and media touching... Continue Reading -->

Can I still buy with 5% down?

Posted on Sep 27, 2012 in Mortgage Market Updates and News

There's recently been a lot of confusion on the topic of down payment when buying a home. When the new mortgage rules took place July 9th, 2012, the loan to value a borrower... Continue Reading -->

Did OSFI Kill the Smith Manoeuvre?

Posted on Sep 26, 2012 in Mortgage Market Updates and News

Tens of thousands of Canadians employ leveraged investing strategies like the Smith Manoeuvre. They rely on these techniques to magnify their investment gains and to pay down... Continue Reading -->

New Mortgage Rule Impact

Posted on Sep 21, 2012 in Mortgage Market Updates and News

People are itching to know what short-term damage the new mortgage rules will inflict on real estate prices. So far, in the first full month of tighter insuredlending,... Continue Reading -->

Buy Fifty Shades of Grey = Support Local Economy

Posted on Sep 21, 2012 in Mortgage Market Updates and News

That's right, everyone's favorite (or secret favorite) book, Fifty Shades of Grey was made of local paper. Our very own Catalyst Paper got the contract for the book prior... Continue Reading -->

About time Mortgage Penalties got some publicity!

Posted on Sep 18, 2012 in Mortgage Market Updates and News

Anybody who reads my mortgage blog regularly, knows my favorite thing to write about, and my biggest criticism to our mortgage market (which I really believe is over all managed... Continue Reading -->

Bank road reps advertising themselves as 'brokers'

Posted on Sep 17, 2012 in Mortgage Market Updates and News

In a recent Canadian Mortgage Professional Magazine article, it was discussed that many bank road reps or 'mobile mortgage specialists' are now advertising themselves as... Continue Reading -->

Credit Score 101

Posted on Sep 15, 2012 in Mortgage Market Updates and News

Having a strong credit score is essential to getting a mortgage, or obtaining a loan. Many people have little to no idea how credit works, let alone what their personal score is.... Continue Reading -->

Is household debt a threat to our economy?

Posted on Sep 14, 2012 in Mortgage Market Updates and News

Here are the facts:  Canadian household debt is indeed equal to 154% of disposable income The housing market is softening and prices are going down in many areas... Continue Reading -->

Cash back mortgages a thing of the past??

Posted on Sep 12, 2012 in Mortgage Market Updates and News

Although many people don't even realize that Cash-Back Mortgages exist, they have been an excellent tool in helping qualified buyers break into the housing market. A cash back... Continue Reading -->

When the lender says yes and CMHC says no

Posted on Sep 11, 2012 in Mortgage Market Updates and News

What do you do when your lender approves your file, but the insurer declines it? Many people out there likely don't even know this can happen.. The issue here of course, is... Continue Reading -->

What does CMHC insured actually mean?

Posted on Sep 10, 2012 in Mortgage Market Updates and News

When you got your mortgage, did your broker or bank tell you it had to be 'CMHC insured' while you just smiled and nodded, not actually knowing what that really meant? Or... Continue Reading -->

To all you people out there with Variable Rate Mortgages..

Posted on Sep 7, 2012 in Mortgage Market Updates and News

It's been 2 nice long years since the Bank of Canada last increased its overnight lending rate, thus increasing the bank's prime lending rate. While the date that people... Continue Reading -->

Last day for Home Equity Lines of Credit at high ratios for some lenders today

Posted on Sep 5, 2012 in Mortgage Market Updates and News

Further to my last article written on the reduction of Home Equity Lines of Credit availability http://portalbernimortgage.com/blog_article.php?pid=811 some lenders are... Continue Reading -->

The Affordability of Canadian Housing

Posted on Aug 31, 2012 in Mortgage Market Updates and News

Once again we have mixed messages in the media about the affordability of Canadian housing.  In March of this year, the Globe and Mail reported that housing affordability is... Continue Reading -->

Closing Costs when buying a home. Do you know what to expect?

Posted on Aug 30, 2012 in Mortgage Market Updates and News

I can't tell you how many home buyers I see come in who've saved and saved and saved their money to get to that 5% down payment and have nothing left, not knowing they're... Continue Reading -->

Want a home equity line of credit? Better act fast..

Posted on Aug 24, 2012 in Mortgage Market Updates and News

If you're looking for a home equity line of credit (a line of credit secured to your home), you better act fast. With more changes coming to the regulations for home equity... Continue Reading -->

What's happening with 5 year fixed rates?

Posted on Aug 23, 2012 in Mortgage Market Updates and News

It's the big question out there right now, what's happening with the 5 year fixed rate!? Earlier this week RBC increased their 5 year fixed rate special to 3.69%. This is... Continue Reading -->

Brokers seek greater transparency in lender guidelines

Posted on Aug 22, 2012 in Mortgage Market Updates and News

It's one issue likely to crop up again and again in the 2012 CMP Brokers on Lenders survey, but lenders should move now to correct it, say brokers calling for more specific... Continue Reading -->

Why do low down payment mortgages sometimes get better rates?

Posted on Aug 17, 2012 in Mortgage Market Updates and News

The news about  getting better mortgage rates with a lower down payment has been in the news recently -- if you have a down payment of only 5% and your credit is good, then... Continue Reading -->

Sharie Marie in the news again!

Posted on Aug 16, 2012 in Mortgage Market Updates and News

See below, Sharie Marie Francoeur, Mortgage Professional with TMG The Mortgage Group Canada Inc, interviewed by CMP (Canadian Mortgage Professional Magazine), on the anticipated... Continue Reading -->

Does Canada have it all?

Posted on Aug 15, 2012 in Mortgage Market Updates and News

Bank of Canada (BOC) Governor Mark Carney made a bold statement in an interview with the British Broadcasting Corp. (BBC) recently. He said that he has done all he can to boost Canada's... Continue Reading -->

Looking for a business loan?

Posted on Aug 14, 2012 in Mortgage Market Updates and News

Looking for business financing?  TMG Merchant Capital Program is a purchase of your future debit/credit card sales for a discount today. The obligation is paid back through... Continue Reading -->

Posted rates set to maximize penalties

Posted on Aug 13, 2012 in Mortgage Market Updates and News

There’s a very good reason why some banks continue to advertise unusually high posted rates, argue some brokers, even as other lenders move to slash theirs to the point... Continue Reading -->

Canada Mortgage Rates Hit Record Low, Frustrating Efforts To Cool Housing Market

Posted on Aug 10, 2012 in Mortgage Market Updates and News

Canada’s fiscal policymakers are working to cool off the country’s overheated real estate market, tightening lending restrictions and warning buyers about the dangers of... Continue Reading -->

Dog Days of Summer

Posted on Aug 8, 2012 in Mortgage Market Updates and News

It's August and we're heading right into the traditional dog days of summer. It's a great time to relax with family, take that much-needed vacation or just chill... Continue Reading -->

J.A. Happ to make first start for Blue Jays tonight

Posted on Aug 7, 2012 in Mortgage Market Updates and News

The Toronto Blue Jays thoughts of making the postseason are slowing fading away.  There were high hopes with the second wild card added to each League this year.  However,... Continue Reading -->

Don't fear the small mortgage lender

Posted on Aug 6, 2012 in Mortgage Market Updates and News

Even when a smaller lender has tantalizing rates and the best terms, homeowners sometimes tend to avoid it if they don’t know the name. An oft-cited reason for that is... Continue Reading -->

Saints and Cardinals open NFL preseason

Posted on Aug 6, 2012 in Mortgage Market Updates and News

The NFL preseason is officially underway with the Hall of Fame game being played tonight in Canton, Ohio.  The New Orleans Saints defeated the Arizona Cardinals 17-10.  The... Continue Reading -->

Recent AVTimes article on the housing market

Posted on Aug 5, 2012 in Mortgage Market Updates and News

Friday's newspaper included an article on the recent Vancouver Island Real Estate Board statistics report released. The article was an interview with our VIREB Director, Gary... Continue Reading -->

Record setting low rates

Posted on Aug 2, 2012 in Mortgage Market Updates and News

With mortgage rates time and time again setting record lows, now's the time to take advantage in a positive way and pay off your mortgage faster. Yes, mortgage rates are low,... Continue Reading -->

Genworth Insurance picks up CMHC bulk business

Posted on Aug 1, 2012 in Mortgage Market Updates and News

Genworth saw its high-ratio premiums slip in the second quarter compared to the year-ago period, driven by weakening demand and growth in low-loan-to-value activity. The... Continue Reading -->

Phillies busy at the MLB trade deadline

Posted on Jul 31, 2012 in Mortgage Market Updates and News

The Philadelphia Phillies are generally buyers at the trade deadline, however with the team struggling all year with injuries they were forced to be sellers.  First they traded... Continue Reading -->

Does CMHC Insurance Protect You?

Posted on Jul 31, 2012 in Mortgage Market Updates and News

I'd like to take a moment to clarify something that, as a mortgage professional, I find many people are confused about. What is CMHC Insurance, why do I need it, and what... Continue Reading -->

Inflation, interest rates and 2014

Posted on Jul 31, 2012 in Mortgage Market Updates and News

The more things change, the more they stay the same.    We've seen changes in mortgage rules and bank lending rules for lines of credit. We've seen interest rate... Continue Reading -->

Pay off your mortgage sooner!

Posted on Jul 28, 2012 in Mortgage Market Updates and News

Save on your mortgage   Paying off your mortgage faster has the excellent benefit of reducing the amount of interest that you pay on your mortgage. How? By using... Continue Reading -->

Jack Russell Terrier events tomorrow!

Posted on Jul 28, 2012 in Mortgage Market Updates and News

Sunday July 29th Vancouver Island Jack Russell Terrier Club is hosting 'Jumps & Tunnels' and Sniff & Find' events.  10:30AM by the picnic shelter... Continue Reading -->

One year fixed the way to go?

Posted on Jul 26, 2012 in Mortgage Market Updates and News

Robert McLister Vancouver — Special to The Globe and Mail   Over last few years, banks, economists, the mortgage industry and even Finance Minister Jim Flaherty... Continue Reading -->

Can't get a mortgage because part of your income is TIPS? New program available for Servers, Bartenders, Hairdressers, etc

Posted on Jul 25, 2012 in Mortgage Market Updates and News

Are you a server, bartender, hair dresser, etc and earn a significant amount of your income through tips? If you fall into this category you know how difficult it can be to get... Continue Reading -->

Mortgage Penalties - What do you need to know before signing on to a mortgage???

Posted on Jul 25, 2012 in Mortgage Market Updates and News

We've all heard the horror story of a friend or family member who paid out their fixed rate mortgage early and was stuck with a $20,000+ penalty. Horrible! But is this something... Continue Reading -->

Fixed vs Variable Rate Mortgage??

Posted on Jul 24, 2012 in Mortgage Market Updates and News

Interesting chart. It's nice to see the gradual decrease in interest rates overall. As you can see Fixed interest rates have always been slightly higher than Variable. If this... Continue Reading -->

Local Artists play at Bavarian Centre

Posted on Jul 20, 2012 in Mortgage Market Updates and News

On Friday, July 20 at 7: 30 p.m. at the Bavarian Centre, Art Rave Society presents local artists and the music of the Barry Bruyere Trio from 9 p.m. to 1 a.m. and the Maloomba Boogie... Continue Reading -->

Pianist performance at Old Dutch Inn

Posted on Jul 20, 2012 in Mortgage Market Updates and News

Pianist Ron Hadley performs at The Old Dutch Inn, 6-9 p.m., with clarinetist Liam Hockley. Qualicum Beach, tonight, Friday July 20th. Continue Reading -->

Jobs an indicator of a healthy economy

Posted on Jul 20, 2012 in Mortgage Market Updates and News

Canadians have heard it often during the past four years – the economy has weathered the global financial crisis and came through it with flying colours. The economy has grown... Continue Reading -->

Bank of Canada will likely hold interest rates another year..

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Bank of Montreal is now predicting the Bank of Canada will hold key interest rates low until July of 2013. This prediction is six months longer than BMO’s recent projection... Continue Reading -->

Dog Days in the Park

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Many brokers devised strategies to demonstrate how the variable rate mortgage was more advantageous to the homeowner than a standard fixed rate mortgage. The “pitch” ranged... Continue Reading -->

Magical Kingdom Play Group

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Celebrate summer through the Summer Arts Program for Children at the Rollin Art Centre, 3061 8th Avenue. This week’s program, July 10, 11 and 13, is Magical Kingdom where... Continue Reading -->

Taking advantage of great low mortgage rates..

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Although the low mortgage payments that come with historically low interest rates are nice, they’re not necessarily the best way to take advantage of these great low rates... Continue Reading -->

Book sale

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Book sale, one day only at the Port Alberni public library, 4255 Wallace Street on July 14 from 10 a.m. to 3 p.m. The earlier the better – all stock will be out at 10 a.m. Continue Reading -->

More Canadians interested in understanding their mortgage options..

Posted on Jul 19, 2012 in Mortgage Market Updates and News

In 2012′s Mortgage Consumer Survey by Canadian Mortgage and Housing Corporation, it became clear to me that mortgage consumers are now more than ever interested in understanding... Continue Reading -->

First time home buyer basic terms

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Glossary of Terms for First Time Home Buyers Buying your first home can be a complicated and intimidating process. The help of a Mortgage Professional, like Sharie Marie Francoeur... Continue Reading -->

Could the US be to blame for our recent mortgage changes?

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Canadians have, on average, 15 years left on their mortgages, according to a survey released last week by BMO Bank of Montreal. And, according to a recent editorial in the Globe and... Continue Reading -->

Questions to ask your lender before signing onto a mortgage.

Posted on Jul 19, 2012 in Mortgage Market Updates and News

It’s comments like these, “He also reduced the amount consumers can borrow against their house to 80 per cent, down from 85 per cent,” that have really confused... Continue Reading -->

Prime rate maintained

Posted on Jul 19, 2012 in Mortgage Market Updates and News

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4... Continue Reading -->

Drop in Badminton

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Drop-in Badminton is being held every Monday and Thursday at the Alberni Athletic Hall at 8 p.m. Everyone is welcome. For information, call Marg at 250-723-8990. Continue Reading -->

Looking for a business loan?

Posted on Jul 19, 2012 in Mortgage Market Updates and News

Have you been turned down by the banks for a business loan? Ask Sharie Marie Francoeur, Mortgage Professional with TMG The Mortgage Group Canada Inc, for information about TMG’s... Continue Reading -->

Contact

I'm looking forward to connecting. Due to being in and out of meetings both for council and business, email is typically the best way to get in touch with me. If you prefer to call, that's fine as well, it just may take me slightly longer to get back to you. Texting is also welcomed.
  • TMG - The Mortgage Group Canada Inc.
    3610 Estevan Drive, Port Alberni, BC, V9Y 5R2
  • Cell: 250.730.0239
  • Fax: 1.877.474.5346
  • Email: sharie@mortgagegrp.com
  • RE/MAX Mid-Island Realty
    4213 Princess Road, Port Alberni, BC, V9Y 5R2
  • Phone: 250.723.5666

Please feel free to use the form below to contact me.

  • Human verification question:
    What is the first name of the broker who owns this site?
Email has been sent!
Email could not be delivered. Please try again later!