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Sunday, July 31st, 2016

Brokers at par with banks on new mortgages – CAAMP. – Consult a Vancouver Mortgage Broker for more information

Broker gripes aside, the new mortgage rules may have helped them grow market share, with CAAMP’s latest report suggesting brokers are now even Stephen with banks in terms of new mortgage originations. Of consumers who consulted mortgage professionals, 47 per cent of 2,000 respondents obtaining mortgages this year did so through a bank, while 47 […]

The Advantages of a Vancouver Mortgage Broker versus the Bank

The Advantages of a Vancouver Mortgage Broker versus the Bank Did you know that almost half of all Canadians still agree to simply accept the rate their bank offers them for their mortgage? I suppose it’s somewhat understandable because they have a history with each other. It just might be because it also seems simpler […]

Is it time to regulate road reps? – Ask a Vancouver Mortgage Broker

Should bank road reps come under industry regulation? This is the question some brokers are asking as the heated debate onroad reps appropriating the mortgage broker title continues to a simmer. “I think this is the perfect time to look into having road reps licensed and regulated,” said Brian Lambert, broker with Real Mortgage Associates in Barrie, Ont. […]

How a Vancouver Mortgage Broker Can Help You

How a Vancouver Mortgage Broker Can Help You By Brennan ValenzuelaRatehub.ca Buying a house and getting a mortgage can be an overwhelming experience. The process involves hours of research and education before you make the largest financial commitment of your life. Did you know that using a mortgage broker can save you two of your […]

Five Tips For Negotiating a Mortgage

Leigh Doyle  When you’re buying your first house, negotiating for the mortgage can seem like the least fun and most complicated part of the process. But having no experience making one of life’s biggest purchases doesn’t mean you’re destined to pay the bank’s listed rate. Follow these five expert-approved tips to make you a better […]

Mortgage Zombies?

According to Moolala author Bruce Sellery, going back to your bank for a mortgage, primarily because you’ve been a customer “forever,” is “zombie behaviour.” Sellery made the comments during a Lang & O’Leary Exchange appearance Monday. “A lot of people would say it’s loyalty. I would say it’s lazy,” he adds. Sellery offered up this guidance on picking your next […]

Simulating Economic Hazards

Rising indebtedness has elevated concerns about the ability of borrowers to cope with economic stress. The Bank of Canada (BoC) weighed in on this topic last week. In its semi-annual Financial System Review, the BoC performed a variety of simulations to estimate how job losses and rate hikes might prevent some people from paying their mortgage. Here are some […]

Banking watchdog backs off its get-tough approach to mortgage lending

By Susan Pigg Business Reporter Ottawa’s banking watchdog has backed down on one of its toughest proposals for reining in household debt — making sure that Canadians’ credit risk is evaluated every time they renew their mortgages. In an unusual “interim update” of tighter lending guidelines it hopes to issue this summer, the Office of the Superintendent […]

Give me a break on my mortgage break fee!

By lesleyscorgieMetro Canada I recently sold my house and have decided to get a new mortgage through a mortgage broker rather than my bank. So, I met with my bank last week to discuss the transaction and learned that the cost to break my existing mortgage is nearly $5,000! Hogwash! For $5,000 I could take a […]

Skipping a mortgage payment: Pros and cons

When I logged on to check my bank balance the other day, I noticed a message from the bank saying that I have ‘earned’ a one month mortgage payment vacation. The reason for this  break is that I have been paying off my mortgage faster by making increased contributions each month. My goal is to […]

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