Canada’s next housing bubble: real estate agents – Consult with a Vancouver Mortgage Broker

The housing boom has not only resulted in record real estate prices, it has spawned an unprecedented number of realtors. The number of people selling real estate reached 108,706 during the first quarter of the year, according to the Canadian Real Estate Association. To put it another way, that’s one realtor for every 245 Canadians […]

Updates on Stated Income & Second Home Programs – Consult with Vancouver Mortgage Broker

CMHC surprised the market last week by eliminating its insuredsecond home andstated incomeprograms. Many believed that the Department of Finance (DoF) had something to do with it. We asked the DoF directly. Here’s what they told us: “CMHC’s decision to discontinue its Second Home and Self-Employed Without 3rd Party Income Validation mortgage insurance products (both high and low […]

Five mortgage market truths, like you can do better than 2.99% – Consult with a Vancouver Mortgage Broker

Here are five things you need to know about the mortgage market as the spring home-buying season gets going: 1. That 2.99 per cent Bank of Montreal five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3-per-cent mark for fixed-rate five-year mortgages is being treated as […]

How badly would you be hurt in a housing market price correction? – Ask a Vancouver Mortgage Broker

A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t self-combust. Our calculator shows the result of both price gains and losses over the next five years. […]

Can this young Toronto family really afford a house? – Consult with a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail I really want to tell this couple it’s okay to buy a house. Let’s call them Grace and Jim, both 35 years old. They live at Jim’s parents’ place in Toronto with two kids, aged 2 and five months, and they have differing views on buying a home. Jim, a […]

Royal Bank taps auto industry strategy of ‘employee pricing’ to sell mortgages – Consult with a Vancouver Mortgage Broker

In the latest twist on the mortgage wars being waged by Canadian banks to win customers, Royal Bank of Canada is taking a page from auto dealers by offering “employee pricing” to home buyers. The same interest rate offered to RBC employees is being given to customers seeking new and “switch-in” mortgages across Canada. “This […]

Toronto home prices jump 10% in April from a year ago as single-family home listings in short supply – Consult with a Vancouver Mortgage Broker

Garry Marr | Prices in Canada’s largest housing market show no sign of letting up, driven by a strong demand for single-family homes in Toronto’s core. The Toronto Real Estate Board said Tuesday that the average sale price of a home in the Greater Toronto Area climbed another 10.1% from a year ago and reached $524,868. […]

The 11 most expensive U.S. homes ever sold – Ask a Vancouver Mortgage Broker

The 11 most expensive U.S. homes ever sold Bing MapsReal estate records were broken by this 18-acre property in the Hamptons that sold for $147.5 million. Twitter Google+ LinkedIn Email Comments  More The top of the U.S. luxury market has been on a tear. Last month, a Greenwich, Conn. estate sold for $120 million, making it one […]

Should you get pre-approved for a mortgage? Ten things to know – Consult with a Vancouver Mortgage Broker

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 there’s room for major disappointment. Sure, pre-approvals have benefits. The best ones accurately measure your qualifications and how much house you can afford. Their 90- […]

How badly would you be hurt in a housing market price correction? – Consult with a Vancouver Mortgage Broker

How badly would you be hurt in a housing market price correction? ROB CARRICK– The Globe and Mail A question for everyone who thinks houses are an investment: How much would a market decline hurt you? Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t […]

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