The rising tide of home ownership may have finally met its match – Ask a Vancouver Mortgage Broker

Maybe there is one temptation out there to get Canadians to stop buying homes. Cheaper rent. Women the new ‘wildcard’ in the condo market The growing number of women buying condos might be creating a paradigm shift in the industry that planners didn’t expect. Find out more Anyone sitting on the sidelines considering whether to buy […]

Women the new ‘wildcard’ in the condo market – Ask a Vancouver Mortgage Broker

Megan Vickell is a new brand of condominium owner that people predicting a market crash may have forgotten to factor in. She’s young, single and ready to buy her first home. And, more importantly, she’s female — part of a growing demographic that just might be creating a new paradigm in the housing sector. A […]

Former Goldman Sachs investment banker appointed to head CMHC

Canada named Evan Siddall, a former official with Goldman Sachs Group Inc., as chief executive officer of the country’s government-owned housing agency. Siddall, who has been a special adviser to the Bank of Canada Governor for the past two years, will serve a five-year term at Canada Mortgage & Housing Corp. starting Jan. 1, the […]

Do early mortgage renewals save or cost you money – Ask a Vancouver Mortgage Broker

A rate in the hand is worth two in the bush. Many mortgage lenders want you to believe that rate certainty is worth paying a premium for. It is the justification, they say, for staying with them and renewing your mortgage early. Early renewal features typically let you lock in a new rate two to […]

Re/Max forecasts ‘exceptionally healthy’ real estate market in 2014

MISSISSAUGA, Ont. — Canada can expect an “exceptionally healthy” housing market in 2014 thanks to improvements in the overall economy that helped produce a surge in the latter half of this year, a leading real estate group said Wednesday. Can’t afford Canadian property? Downsize your home, upsize your storage locker With the condo market in […]

Drop in home building signals Canadian market stabilizing- As a Vancouver Mortgage Broker

TORONTO — New homebuilding in Canada slowed slightly in November, coming in below economists’ expectations and suggesting some stabilization for the country’s robust housing market, data released on Monday showed. The seasonally adjusted annualized rate of housing starts was 192,235 units last month from a downwardly revised 198,161 in October, the Canada Mortgage and Housing […]

The #1 Rate Indicator Right Now – Ask a Vancouver Mortgage Broker

Abnormally low inflation is keeping Stephen Poloz awake at night. The Bank of Canada (BoC) admitted as muchon Wednesday. Analysts took the BoC’s headline comment (“downside risks to inflation appear to be greater”) as a sign that rate hikes will be a 2015 story. But, for now, there is one key indicator that trumps Canadian CPI inflation, and […]

Consumer confidence nears year high as Canadians put faith in rising house prices- Ask a Vancouver Mortgage Broker

The share of respondents who think real-estate prices will increase over the next six months rose to 40.3 from 40.0 the previous week, reaching the highest level since March 2012 Canada’s economic mood rebounded last week as consumers head into the holiday season buoyed by rising house prices, according to the Bloomberg Nanos Canadian Confidence […]

Five things to do if you are over-extended on your mortgage – Ask a Vancouver Mortgage Broker

Mortgage default may be rare in this country, but nearly 9% of indebted households need 40% or more of their gross income to pay their debt service charges, says the Bank of Canada Financial System Review. If you can see problems coming, then you can take action to avoid foreclosure, which happens when lenders run […]

Mortgage rates today are way below normal. Or are they?- Ask a Vancouver Mortgage Broker

Finance Minister Jim Flaherty called Canada’s low interest rates an “anomaly” last week, echoing warnings that other government officials have been making since 2009. But one of the country’s best-known economists believes today’s rates are closer to normal than many think. Benjamin Tal, deputy chief economist at CIBC, caught viewers off guard in a recent […]

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