Be Loyal & Don’t Shop: A Recipe for Overpaying

Be Loyal & Don’t Shop: A Recipe for Overpaying Big banks love mortgage consumers who don’t carefully comparison shop. They also enjoy capitalizing on their “home bank” advantage with existing customers. The article that follows examines recently-released research on these topics. It’s a revealing look at how big lenders benefit significantly from things like mortgage “search costs” […]

What Impact will the New Mortgage Regulations Have? – Ask a Vancouver Mortgage Broker

What Impact will the New Mortgage Regulations Have? Industry insiders (including your trusted mortgage broker in Vancouver) are clamouring to determine the effects of the new mortgage regulations on the value of residential real estate. Is this something we should be seriously concerned about? Or are the effects just another overhyped fear, set to blow […]

Cashback Mortgages Live On – Find a Vancouver Mortgage Broker

Cashback Mortgages Live On A month and a half from now, cashback down payment mortgages will be no more – at least for institutions regulated at the federal level anyway. Alternatively, these mortgages are sometimes called 100% financing. The scrapping of such financial products is the result of the new B–20 mortgage regulations, mandated by […]

BoC hints at rate hike

  The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus. “In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential,” writes the Central Bank in […]

Vancouver Mortgage Broker Compensation Cut by First National

Vancouver Mortgage Broker Compensation Cut by First National Lender margins continue to decrease in today’s marketplace. This is apparent when we look at the actions of large lenders such as First National, which recently reduced commissions. In the recent change, finder’s fees for brokers were reduced for all terms by 4% to 10%. A popular […]

Mortgage Zombies?

According to Moolala author Bruce Sellery, going back to your bank for a mortgage, primarily because you’ve been a customer “forever,” is “zombie behaviour.” Sellery made the comments during a Lang & O’Leary Exchange appearance Monday. “A lot of people would say it’s loyalty. I would say it’s lazy,” he adds. Sellery offered up this guidance on picking your next […]

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period

Why Your Trusted Mortgage Broker in Vancouver May Recommend a Shorter Amortization Period Before new rules decreased the maximum amortization period on default insured mortgages from 30 years to 25, (and maybe surprisingly), there were still people choosing amortization periods less than the newly mandated maximum. While attitudes regarding homeownership have changed over the last […]

Today’s Fixed Rates Are Gifts

Be careful of looking the gift horse in the mouth. Last week saw multiple broker-channel lenders get more competitive on pricing. That pushed fixed rates down to fresh record lows, inspiring some brokers to advertise 5-year rates at 2.94-2.99% or less. Much of that discounting was thanks to lower bond yields (which generally lead fixed […]

Mortgage Platform Down

Mortgage Platform Causes Problems for Vancouver Home Mortgages For several days last week, there was no way for thousands of brokers to send applications to lenders. This affected brokers across Canada including those dealing in Vancouver home mortgages. This resulted because the mortgage industry’s largest mortgage origination platform temporarily went down; the platform is called, “Expert”. This […]

Super Prime Mortgage

Best Mortgage Rates in BC get Better In the past, having “excellent” credit and having “good” credit didn’t make a whole lot of a difference when applying for a mortgage. But times are changing. XCEED Mortgage has launched a new product called the “Super PRIME” mortgage.  It was developed to reward premium clients,  separating them […]

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