Should mortgage shoppers choose the 1 or 5-year fixed rate? – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail Mortgage rate predictions are as often wrong as they are right. Yet, many mortgage shoppers believe that these forecasts give them an edge. Unfortunately, rate expectations sometimes prevent people from picking the lowest-cost mortgage. For instance, those who believe rates can only rise could ignore shorter terms. It […]

More on the New Bulk Insurance Restrictions- Consult with a Vancouver Mortgage Broker

More on the New Bulk Insurance Restrictions Last week’s federal budget included few mortgage changes. One exception was a new proposal to restrict the use of default insurance on low-ratiomortgages (i.e., those with 20% or more equity). The Department of Finance says it will gradually prohibit lenders from bulk insuring low-ratio mortgages unless those mortgages are part of a CMHC-backedsecuritization program. In addition, the government […]

Flaherty’s budget gets ‘C’ grade from 57% of business community, survey says

OTTAWA • The Conservative government’s Budget 2013 barely eked out a passing grade from Canada’s business operators, according to an Ernst & Young survey. The poll found 57% of respondents thought the document deserved a “C” grade at best, while 43% gave it a “B” or slightly higher. “Not unlike the Canadian political scene itself, […]

First-time buyers poised to stand tall even as Canadian home purchase intentions fall: RBC Poll

  First-time buyers poised to stand tall even as Canadian home purchase intentions fall: RBC Poll   Cautious mood, less urgency among Canadian homebuyers, but majority still consider homeownership a good investment TORONTO, March 26, 2013 —Four-in-10 Canadians (40 per cent) planning to enter the housing market over the next two years will be first-time […]

CAAMP: Major Job Losses From Amortization Change – Ask a Vancouver Mortgage Broker

CAAMP: Major Job Losses From Amortization Change Killing 30-yearamortizations on high-ratio insured mortgages was a move that some criticized and some applauded. But few could measure the potential side effects when the decision was made last July. But now, Will Dunning, Chief Economist at the Canadian Association of Accredited Mortgage Professionals (CAAMP), has put out data […]

Should you take advantage of the low mortgage rates? Ask a Vancouver Mortgage Broker

Should you take advantage of the low mortgage rates? Earlier this month, the Bank of Montreal introduced a temptingly low interest rate of 2.99 percent. But considering the unstable market, should you really buy at this time? As we head into the spring real estate market, many Canadians are sitting on the sidelines instead of […]

Tips and tricks to help first-time home buyers – Ask A Vancouver Mortgage Broker

By Kyle Green, Special To The Sun March 15, 2013 Read more: http://www.vancouversun.com/business/Tips+tricks+help+first+time+home+buyers/8103794/story.html#ixzz2OIUXBHr7 Did you know that two out of three Canadian families own a house? That is one of the highest rates of home ownership in the world. And for good reason . Real estate is a great investment. And with increasing housing prices, it’s all […]

Flaherty’s decision to intervene in mortgage war raises questions

Flaherty’s decision to intervene in mortgage war raises question Finance Minister Jim Flaherty has pressed Manulife Bank into reversing a mortgage-rate cut, underscoring the government’s determination to prevent lenders from stoking the housing market at a time of soaring consumer debt. Mr. Flaherty instructed one of his officials to call Manulife on Monday night and […]

Let’s put real estate overvalution in perspective – Consult with a Vancouver Mortgage Broker

Let’s put real estate overvalution in perspective Canadian real estate is overvalued by 20%. This doesn’t mean your home is worth 20% less. If prices do drop, it will be closer to 10%, and in certain parts of the country it’s already happening. More than a few media headlines are focusing on Canada’s overvalued real […]

Carney shifts from housing bubble to sluggish growth – Consult with a Vancouver Mortgage Broker

Carney shifts from housing bubble to sluggish growth KEVIN CARMICHAEL AND TARA PERKINS   Mark Carney can taste victory in his long-running battle against a housing bubble. For the first time in a year, the Bank of Canada on Wednesday signalled comfort that Canadians are getting the message about taking on too much mortgage debt, […]

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