No ugly downturn for condo market, even in Toronto: Consult with a Vancouver Mortgage Broker

TARA PERKINS – REAL ESTATE REPORTER The Globe and Mail A new report from the Conference Board of Canada predicts that the much-watched condo sector will avoid an ugly downturn, even in Toronto. Economists and policy-makers are keeping a close eye on condos, especially in the country’s most populous city, where cranes dot the sky. A […]

Shop Your Renewal – Ask a Vancouver Mortgage Broker

Shop Your Renewal By Rob McLister, Editor,CanadianMortgageTrends.com”  Lenders make a lot more money when they renew your mortgage than on your initial term. That’s partly because they don’t have to compensate anyone for referring you (or compensate them as much). But it’s also because many renewers don’t comparison shop as much or negotiate as hard. According to a […]

Can you handle higher interest rates? – Consult with a Vancouver Mortgage Broker

Garry Marr  | @DustyWallet It may be stressful to think about it but higher mortgage rates are on the horizon. The questions for homeowners is whether they can handle a hike in interest rates. Bank of Montreal says consumers should stress test their mortgages a couple of ways, considering higher interest rates and a shorter amortization period. […]

First-time home buyers undeterred by mortgage rules, rates – Ask a Vancouver Mortgage Broker

Garry Marr |More from Garry Marr | @DustyWallet About two-thirds of first-time buyers say they’ll purchase a home as planned and are unaffected by new mortgage rules brought in by Ottawa a year ago, says a new survey. The findings come as the banks continue to increase long-term interest rates in the face of rising bond yields but […]

Stricter Debt Ratio Standards on the Way – Consult with a Vancouver Mortgage Broker

Stricter Debt Ratio Standards on the Way By Rob McLister, Editor, CanadianMortgageTrends.com If you’re a typical borrower, yourdebt ratios will largely determine if you’re approved for a mortgage. For applicants who push the limits of qualification, those approvals have been tougher to come by. That’s a direct result of last year’s mortgage rule tightening, which imposed stricter debt […]

Low interest rate party may be ending – Ask a Vancouver Mortgage Broker

Watch the bond market and QE moves for early warnings that interest rates will start to rise in Canada. By: Gordon Pape Building Wealth, Published on Sun Jun 23 2013 The interest rate party for borrowers is almost over. After almost five years of historically low rates, we’ve started to see some upward movement in the cost of […]

The case for locking in your mortgage – Consult with a Vancouver Mortgage Broker

ROB CARRICK – The Globe and Mail You can’t go wrong if you respond to this week’s mortgage rate increases by locking in for five or 10 years. But at least consider the alternative: Variable-rate mortgages sound risky in today’s volatile interest rate environment, but they’re actually a quiet corner of the mortgage world right now. We’ve […]

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, […]

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 […]

Bank of Canada cuts 2013 growth outlook – Consult with a Vancouver Mortgage Broker

Bank of Canada cuts 2013 growth outlook Reuters – Bank of Canada Governor Mark Carney leaves his office for a news conference upon the release of the Monetary Policy Report in Ottawa October …more  The Bank of Canada cut its growth forecast on Wednesday in a signal that interest rates will remain at historically low levels for some […]

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