Fighting Mortgage Fraud – Consult with a Vancouver Mortgage Broker

Fighting Mortgage Fraud Special to CMT, By Karen Beattie, NEXSYS Financial  Mortgage fraud in Canada has increased by a staggering 50% in recent years, according to Equifax. While accounting for only 13% of attempted frauds in 2011, mortgage fraud was responsible for two-thirds, or $400 million, of the estimated dollar amount of financial fraud in Canada. […]

Bank of Canada’s Poloz upbeat about economic growth – Ask a Vancouver Mortgage Broker

Bank of Canada‘s Poloz upbeat about economic growth BARRIE MCKENNA AND BRENT JANG-  OTTAWA/VANCOUVER — The Globe and Mail Bank of Canada Governor Stephen Poloz is painting a brighter picture for the Canadian economy while tossing aside concerns over a housing bubble. Canada is on its “way home” to more natural economic growth as central banks prepare […]

Flaherty threatens action – Consult with a Vancouver Mortgage Broker

Finance Minister Jim Flaherty says he will step in to intervene once more if the housing market appears to move toward a bubble. “I’m comfortable with where we are, but we have to watch and, if we see anything moving toward a bubble, we can intervene,” Flaherty said in an interview with BNN Television this week. “It’s […]

StatsCan’s National Household Survey – Consult with a Vancouver Mortgage Broker

StatsCan’s National Household Survey Three out of five homeowners are saddled with mortgages. But in many ways it’s harder being a renter. Statistics Canada finds that a significantly larger percentage of renters are overextended than homeowners in this country. That’s one of the more noteworthy findings in its National Household Survey (NHS) data released this week. Other highlights:   […]

How you helped Canada’s big banks weather the financial crisis- Ask a Vancouver Mortgage Broker

ROB CARRICK– The Globe and Mail The little-discussed safety net that helped the big banks through the financial crisis was their complete, masters-of-the-world dominance over the day-to-day financial affairs of almost all Canadians. When the banks need revenue and profits, they simply have their clients supply it. And so they did in 2007, as the crisis […]

Home shoppers, don’t rush to buy just to lock in a cheap mortgage – Consult with a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail The idea that low mortgage rates are gone forever sent Canadian home shoppers into a panic this summer. Thousands rushed to use their rock-bottom pre-approved mortgage rates and buy a home, contributing to a20 to 50 per cent spike in sales last month in Canada’s biggest housing markets. But […]

OSFI to consult public before making changes – Ask a Vancouver Mortgage Broker

OSFI has held off on further tweaks to underwriting rules, but amid speculation that it may soon spring into action, one representative has assured MortgageBrokerNews.ca the public – including brokers – will be allowed their say. “If we decide to revise Guideline B-20 we will undertake public consultations,” Annik Faucher of OSFI told MortgageBrokerNews.ca. “No […]

Half Baked Mortgage News – Consult with a Vancouver Mortgage Broker

From the “can’t believe everything you read” file comes this shocker from the Huffington Post: Mortgage Debt Exploded In Past 4 Years An unnamed Huffington Post author claims that mortgage debt at chartered banks soared 56% ($301.4 billion) in just one year—from June 2011 to June 2012. It’s a “risky explosion” in mortgage debt says […]

Luxury home sales expected to climb: study – Ask a Vancouver Mortgage Broker

Sales of luxury homes will likely gain momentum in the fall, fuelled by demand from international investors, according a new report from real estate sales and marketing company Sotheby’s International Realty Canada. The company said Tuesday that sales of high-end homes worth at least $1 million were up in major Canadian urban markets in the […]

Canada’s two largest real estate markets are surging – Ask a Vancouver Mortgage Broker

Home sales in Canada’s two largest cities continued their surge in August from a year earlier. Why real estate doomsayers continue to be wrong Still believe Canada’s housing market is going to implode? You’re not alone, but it hasn’t happened yet. Read more Sales in Toronto, the largest market, rose 21% from August last year to […]

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