Pick the right term, pay off mortgage faster – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail The trick to making a mortgage disappear faster is to minimize your total borrowing cost. And nothing dictates total borrowing cost more than the term you chose. Picking the right term is even more important than selecting the best lender, choosing the appropriate mortgage features and finding the […]

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 […]

Canadian housing market defies skeptics as starts top expectations – Consult with a Vancouver Mortgage Broker

TORONTO — Canadian housing starts were stronger than expected in June and May figures were revised higher, according to data released on Tuesday, the latest report to show the property market rebounding from last year’s government-induced slowdown. Housing market fuelling loonie’s rise from two-year-low The Canadian dollar rose from its lowest level in almost two […]

Crush your mortgage – Ask a Vancouver Mortgage Broker

Opaque contracts. Stiff penalties. Unnecessary insurance fees. Mortgage documents are full of traps that make it extremely difficult to pay off your biggest debt. MoneySense shows you how to pay off your mortgage early and become debt-free sooner than you imagined. By David Hodges | From MoneySense Magazine,  It was a sun-drenched autumn afternoon in 2005 when Heidi Croot and […]

A New Bank With a New Model — Canadian First – Ask a Vancouver Mortgage Broker

A New Bank With a New Model — Canadian First  By Rob McLister, Editor, CanadianMortgageTrends.com Being a Canadian bank puts you in exclusive company. There are5,991 commercial banks in the U.S., but just 25schedule I banks in Canada. That number will soon become 26 because Canadian First Financial Holdings Limited has just received OSFI approval to incorporate as a bank. (The bank’s […]

Trade and Investment to Support Canada’s Economy In 2013: RBC Economics

Real GDP to increase to 1.9 per cent in 2013 TORONTO, June 19, 2013 — Canada’s economy started 2013 growing at a solid clip, as energy production continued to recover and the U.S. economy proved to be more resilient to a recession than was feared, according to the latestEconomic and Financial Market Outlook issued today by RBC […]

Toronto real estate: Cottage country sales rebound from wet spring

2013 heralded as turnaround point for market that’s been flat since 200 By: Susan Pigg Business Reporter The impact of a soggy spring continues to be felt across Ontario cottage country, where sales — and prices — in many regions are down slightly from last year. Yet 2013 is being heralded as a possible turnaround year for […]

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 […]

Bank of Canada will raise overnight interest rate in July 2014: BMO economist

By: Alexandra Posadzki The Canadian Press, Published on Wed Jun 19 2013 The Bank of Canada is likely to start raising its benchmark interest rate in July 2014, a full year before the U.S. Federal Reserve, BMO’s chief economist Douglas Porter said Wednesday. Porter predicts the overnight rate will go up by half a percentage point, which could […]

Mortgage rate hikes shouldn’t torpedo the housing market – Ask a Vancouver Mortgage Broker

LARRY MACDONALD- Special to The Globe and Mail Many housing bears think that the recent increase in mortgage rates is the beginning of the end for the Canadian housing market. I’m not convinced; here are some reasons why. Fixed-mortgage rates have gone up because they are tied to bond yields, which have been rising lately. That’s […]

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