Could CMHC change its ‘one-size fits all’ mortgage insurance to reflect real risk? – Ask a Vancouver Mortgage Broker

Buy a house with less than a 20% down payment and you have to get mortgage default insurance. There’s no choice. The rules are dictated by Ottawa and protect the banks, in the event you default. Why the mortgage rate wars can rage more freely Why did Bank of Montreal risk a (verbal) slap from […]

Leaving the city (and the big mortgage) behind – Ask a Vancouver Mortgage Broker

Slightly more than three years ago, I sat down with my wife after a lousy commute and discussed why we were still in Toronto. Sure, she had a good job in the city, but I was freelance, and with two young children in elementary school, we pondered whether there were other options. The positives were […]

More self-employed hitting mortgage wall because of recent rule changes

For years, most of Marg Green’s self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan. These days, because of rules brought in almost two years ago by the regulator of the country’s chartered […]

What bubble? Canadians have their mortgage covered, study shows – Consult with a Vancouver Mortgage Broker

A new Conference Board of Canada study says there’s no housing bubble about to burst and maintains Canadian are having no trouble handling their debt even as it sits close to record levels. ‘Every man for himself’: Homebuyers’ top 5 bidding war stories One in three Canadians are willing to enter into a bidding war […]

Lucky address can add up to big gains in house sales – ask a Vancouver Mortgage Broker

You don’t have to believe in superstition for it to hex your house, if the results of a forthcoming Canadian study are any indication. What bubble? Canadians have their mortgage covered, study shows Mortgage arrears are actually going down in just about every market across Canada — making a U.S.-style meltdown unlikely,Conference Board says Reporting […]

Here’s why paying off your mortgage isn’t always the best idea – Consult with a Vancouver Mortgage Broker

It amounts to financial heresy to some conservative investors but paying down your mortgage early just might not be the best plan. Should you rent or own your home? People say that when you grow up, you buy a home. Who are these “people?” Your married friends, your parents and other grown-ups who ask: “Don’t […]

Mortgage shopping? Two stars and four dogs from today’s market – Ask a Vancouver Mortgage Broker

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 behold, they’re back. But you have to hunt much harder for 2.99 per cent than you did last spring. Some lenders, especially banks, are wary of […]

Analyzing BMO’s Go-Fixed Advice – ask a Vancouver Mortgage Broker

Fixed rates are now “superior,” said BMO in this report released Thursday. “While we have in the past supported going variable,” circumstances now “favour…locking in…” That’s been BMO’s rally cry since 2010 when it proclaimed “Time to Say Goodbye…to Variable.” In retrospect, that advice would have cost mortgagors handsomely. But BMO was far from alone in that […]

Mortgage Terms: Stars & Dogs – Consult with a Vancouver Mortgage Broker

After “What is your best rate?” the next most popular mortgage question is probably “Which term do you recommend?” — or a variation thereof. But it’s tough to generalize about the best mortgage because borrowers have unique needs. To get around that, we have to use limiting assumptions and make a best guess at the risk/reward of each […]

Jim Flaherty move shocks brokers – Ask a Vancouver Mortgage Broker

Finance Minister Jim Flaherty has stepped down. “Yesterday, I informed the prime minister that I am resigning from cabinet,” Flaherty said in a statement. “This was a decision I made with my family earlier this year, as I will be returning to the private sector.” Flaherty – who has been unpopular among the mortgage broker community – […]

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