For the cheapest mortgage, go variable – As a Vancouver Mortgage Broker

The smart money’s long infatuation with the variable-rate mortgage has ended, perhaps a little hastily. A lot of homeowners have saved a ton of money with variable-rate mortgages, where your borrowing cost floats with your lender’s prime lending rate. The prime rate is in turn guided by the Bank of Canada’s overnight rate, which was […]

Vast majority now favour fixed-rate mortgages – Ask a Vancouver Mortgage Broker

While it looks like interest rates will remain low for some time, there has been a large swing from variable to fixed-rate mortgages over the past year, says a new report by the Canadian Association of Accredited Mortgage Professionals. CAAMP’s annual report on the state of the residential mortgage market, released Monday, suggests that 79 […]

Pay off your Mortgage Before you Retire – From your Friendly Vancouver Mortgage Broker

Pay off your Mortgage Before you Retire – From your Friendly Vancouver Mortgage Broker Back in the old days, most people had planned to pay off their mortgage before they retired. Times have definitely changed and if anything the reverse seems true in today’s climate. The baby boomers could be facing some rough waters ahead […]

The Advantages of a Vancouver Mortgage Broker versus the Bank

The Advantages of a Vancouver Mortgage Broker versus the Bank Did you know that almost half of all Canadians still agree to simply accept the rate their bank offers them for their mortgage? I suppose it’s somewhat understandable because they have a history with each other. It just might be because it also seems simpler […]

How to Save a Lot of Money on your Vancouver Mortgage – From your Friendly Vancouver Mortgage Broker

How to Save a Lot of Money on your Vancouver Mortgage – From your Friendly Vancouver Mortgage Broker It’s hard to believe but it was only a mere 5 years ago when the rates for a Vancouver home mortgage were double what homeowners are paying at today’s rate.  If you were to calculate the difference […]

Five Tips For Negotiating a Mortgage

Leigh Doyle  When you’re buying your first house, negotiating for the mortgage can seem like the least fun and most complicated part of the process. But having no experience making one of life’s biggest purchases doesn’t mean you’re destined to pay the bank’s listed rate. Follow these five expert-approved tips to make you a better […]

IRD Penalties on FirstLine Vancouver Home Mortgages

IRD Penalties on FirstLine Vancouver Home Mortgages The following information may be helpful for individuals holding Vancouver home mortgages through FirstLine. FirstLine Mortgages is a subsidiary of CIBC which stopped accepting mortgage applications as of July 31, 2012. According to CIBC, parties who currently have mortgages with FirstLine will not be affected by this change. […]

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 […]

Shorter mortgage is money in your pocket

CALGARY, AB – Now that the dust has settled a little on the new mortgage lending rules, it’s time to put them into perspective. This is not the first time mortgage amortizations have been limited to 25 years. Industry veterans know people still bought homes before the amortization rules were relaxed and their main goal was to […]

Interest rates to remain low into 2014: CIBC

The CIBC says Canadians may enjoy historically low interest rates into 2014. The bank released its new outlook for the global and Canadian economies, and all indicators point to weakening conditions and rising risks. It says Canada’s economy will barely keep its head above water with growth rates of 2.1 per cent this year and […]

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