5 Credit Card Fees You Should Never Pay – Consult with a Vancouver Mortgage Broker

Mark Twain once said “Everybody talks about the weather, but nobody does anything about it.” But when it comes to credit card fees, there is actually a lot that credit card users can do to reduce or eliminate them. In fact, conscientious cardholders can avoid paying these fees altogether when they choose the right cards and use […]

Bank of Canada Rate Biases – Consult with a Vancouver Mortgage Broker

Bank of Canada Rate Biases When the Bank of Canadatalks rates, analysts hang off of every word. They pay special attention to biases in the Bank’s wording (i.e., which way the Bank is leaning on interest rates). The media loves to pump commentators for predictions on whether the BoC will keep its rate “bias,” not keep its bias, […]

Variable vs. Fixed Rates – The Latest – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com As many as 85% of newmortgagors are choosing fixed rates, says CAAMP. It makes you wonder, what is it going to take to get that number back to its historical average of ~65%? For one thing, the fixed-variablespread (i.e., difference between fixed and variable rates) needs to widen. With today’s typical 5-year fixed at 2.84% and […]

Yields Spike. Fixed Rates May Follow – Ask a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com   Yields Spike. Fixed Rates May Follow If you’re house hunting or thinking of refinancing, and you don’t have a mortgage rate hold, consider getting one. Canada’s 5-year bond yield just pierced a 3-month high. That means—barring a big reversal—there’s a good likelihood that fixed rates will ratchet higher. (Bond yields steer fixed […]

The cost of buying a home: It’s not just the mortgage, silly! – Ask a Vancouver Mortgage Broker

Associated costs include down payment, closing costs, moving costs and new appliances. By: Kristin Kent Special to the Star,  Adam Frank and his girlfriend MaryAnne, both 29, knew they wouldn’t become homeowners overnight. The two were realistic and grounded in their approach. They had conversations. They researched. They crunched numbers. Infographic: It’s your money (a practical guide) – […]

1/3 of Canadians live paycheque to paycheque, survey suggests – Consult with a Vancouver Mortgage Broker

Almost a third of Canadian households report never or almost never having any money left to save after paying their bills, according to a new study issued Wednesday. Households that reported no wealth accumulation tended to be working, middle-aged people — although of varying income levels, says the study by the Certified General Accountants Association […]

Would shorter amortizations make the housing market safer? – Ask a Vancouver Mortgage Broker

Canada’s banking watchdog seems intent on stamping more risk out of the mortgage market. The latest idea being floated by The Office of the Superintendent of Financial Institutions (OSFI) is to limit amortizations to 25 years for homeowners who have put down 20 per cent of the purchase price or more. The current maximum is 35 years. If this […]

Home Buyers: What should a real estate lawyer do for you? – Ask a Vancouver Mortgage Broker

When graphic and web designer Andy Stanleigh bought a house in Oakville, Ont. last summer, he learned the value of having a real estate lawyer on call. A few days before closing, Mr. Stanleigh and his wife received a surprise letter from the vendor’s lawyer, saying that they needed to immediately pay nearly $1,100 in […]

Flaherty dismisses fears over housing slowdown – Consult with a Vancouver Mortgage Broker

Decreasing demand, construction a ‘healthy’ development, finance minister says The Canadian Press  Finance Minister Jim Flaherty is dismissing fears about Canada’s housing market, saying the current slowdown is welcome news and that there is no need for further government intervention. While some observers are expressing fears that a steep correction is underway that will bring […]

FSCO frustrated by unlawful advertising – Consult with a Vancouver Mortgage Broker

Too many unlicensed brokers and not enough resources has FSCO frustrated with the deluge of public complaints over illegal mortgage brokering advertisements.   “The guys who post the signs on the street posts, under the street lamps, they are preying on people in dire financial situations,” says Bhan Persaud, the senior licensing approvals officer with […]

« Previous Page — Next Page »