Bad weather can’t put a dent in Canadian housing sales – Ask a Vancouver Mortgage Broker

Spring came late for the Canadian residential real estate market but despite the delay the organization that represents the country’s realtors is still predicting a 1.2% jump in activity for 2014. Calgary’s housing market making a dramatic comeback Te Calgary housing market is so hot that an economist reported Tuesday that only 15 condominiums in […]

Rising real estate prices and low interest rates keep Canadian households upbeat – Consult with a Vancouver Mortgage Broker

Bloomberg News | May 20, 2014 | Last Updated: May 20 12:01 PM ET The share of Canadians who are predicting higher home prices in their neighborhood remained above 40% for a fifth week in the latest weekly polling by Bloomberg and Nanos Research. That’s kept consumer confidence levels at near the highest in four years, the data show. […]

Are shorter mortgage amortizations always better? No – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER- Special to The Globe and Mail For years we’ve been taught that shorter mortgage amortizations are better. Most people in the mortgage business don’t challenge this premise and certain lenders preach it as gospel. Consider this recent statement by a bank spokesperson: “Choosing a shorter amortization is the most responsible approach to home financing. […]

A Threat to Private Financing – Ask a Vancouver Mortgage Broker

A Threat to Private Financing Wayne Strandlund, Special to CMT Borrower choice and the success of mortgage brokers is tied to the availability of a wide variety of mortgage funds. Apart from conventional insured and uninsured mortgages, there are Alt-A and B, 1st and 2nd mortgages available through the private mortgage market. For years, Mortgage […]

Canadian homebuilding beats expectations in May – Aska vancouver mortgage broker

TORONTO — Canadian housing starts picked up more than expected in May and April was revised higher, suggesting housing will contribute to economic growth in the second quarter after a harsh winter put the brakes on construction, data released on Monday showed. A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted […]

Credit unions take on banks in mortgage wars with rates as low as 2.69%- consult with a Vancouver mortgage broker

The latest salvo in mortgage rates wars among financial institutions appears to be coming from credit unions, free from federal regulation and ready to take on the banks. How this man plans to be mortgage free by age 31 The 29-year-old pension analyst is $130,000 away from paying off his $425,000 home in Toronto, without […]

Low loonie lifts cottage sales after chilly start to season – Consult with a Vancouver Mortgage Broker

One of the nation’s largest real estate company says recreational property sales are finally starting to pick up after a tough winter and slow start to the season. In Toronto’s housing market, ‘$2-million is the new $1-million’ Try not to panic if you haven’t bought yet but the $2-million home is a growing segment of […]

Reverse mortgages rising fast to deal with retirement shortfalls – Consult with a Vancouver Mortgage Broker

It could become a growing solution to our retirement savings problems, but opponents of reverse mortgages warn their spike in popularity could mean shrinking inheritances. HomEquity Bank, which is owned by Birch Hill Equity Partners, and is behind the Canadian Home Income Plan, said reverse mortgages are up 26% year-to-date compared to the same period […]

Housing market 10% overvalued in Canada amid condo risks, data uncertainty: TD executive – Ask a Vancouver Mortgage Broker

STORONTO — Canada’s housing market is 10% overvalued, with the biggest risks in condominium overbuilding and uncertainty over how many investors are buying, but the risk of a U.S.-style collapse is low, a top executive at Canada’s second largest bank said on Monday. Lisa Reikman, chief risk officer of Canadian banking at Toronto-Dominion Bank, said […]

CMHC: Expect higher Canadian house prices and fewer starts in 2014- Ask a Vancouver Mortgage Broker

TORONTO — Canada federal housing agency lowered its forecast for housing starts but not prices in 2014 and said sales and construction will be flat or barely higher in 2015 as the once-roaring market adjusts to a glut of condominiums coming onto the market. Canada Mortgage and Housing Corp said the nation’s housing boom is […]

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