MBRCC’s New Tool for Interprovincial Brokering

MBRCC’s New Tool for Interprovincial Brokering For mortgage brokers without face-to-face business models, the Internet makes it easy to close mortgages in another province. And a lot of brokers are doing just that, but not always legally. That’s partly why the Mortgage Broker Regulator’s Council of Canada (MBRCC) put out this new tool. They call it the Multijurisdictional […]

Mortgage Freedom on the Horizon for Some Canadians: Scotiabank Study – Ask a Vancouver Mortgage Broker

Scotiabank Offers Advice on How to Become Mortgage-Free Faster TORONTO, ON–(Marketwired – April 01, 2014) – The dream of mortgage freedom is less than 10 years away for 37% of Canadian mortgage holders, according to Scotiabank’s Mortgage Landscape Study. More than two-thirds (68%) of mortgage holders have taken steps to pay off their mortgage faster, including […]

Ed Clark ‘supportive’ of Finance Minister Joe Oliver’s hands-off approach in mortgage wars

Toronto-Dominion Bank chief executive Ed Clark is throwing his support behind Finance Minister Joe Oliver’s decision not tell banks how to price their mortgages. Top economist calls out Ottawa on ‘unhealthy’ lack of information about housing market Crucial information needed to assess the health of our housing market is not available in Canada, and without […]

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 […]

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