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Friday, November 22nd, 2019

How lower interest rates are making variable mortgages more tempting – Ask a Vancouver Mortgage Broker

Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage and all the risks that come with an interest rate linked to prime. The lure is right in your face on every mortgage rate comparison site. The five-year fixed-rate mortgage has dropped as low as 3.09% with discounters and […]

A clear mortgage policy- Consult with a Vancouver Mortgage Broker

Jim Murphy, Special to Financial Post The Canadian housing and mortgage markets receive extensive attention by economists, analysts and the media. The purchase of a home after all is the largest financial commitment that an individual will make in his or her lifetime. Since 2008 and the height of the financial crisis, the federal government […]

Shopping for a first mortgage? Arm yourself with research and negotiate and Ask Adil Virani – Vancouver Mortgage Broker

First-time home buyers shopping for a mortgage have all the technology at their fingertips to make informed decisions, and financial experts say those resources should arm them with enough knowledge to prepare themselves, and even negotiate a better rate. “In today’s environment, with so many things on the Internet, social media in general, there’s no […]

Finding a mortgage has never been easier – Ask a Vancouver Mortgage Broker

Finding a mortgage has never been easier The Internet can offer homebuyers every possible option A Canadian Association of Accredited Mortgage Professionals survey found 47% of people who took out a new mortgage in 2012 used a broker. Photograph by: Tyler Anderson, National Post Files , Financial Post Canadians may finally be grasping the obvious when […]

Rent-to-own site skirts around broker regulations

A handful of con artists misusing the rent-to-own model are increasingly running afoul of provincial mortgage broker legislation, claiming they can arrange home loans without broker accreditation. “Unfortunately it is not uncommon,” CAAMP CEO and President Jim Murphy told “It is the second or third source of complaints in Ontario (unlicensed activity). It sends […]

Murphy: Gov’t may have jumped the gun- Ask a Mortgage Broker

October 15, 2012 by  
Filed under Latest News, Latest Rates, Recent News

The one-two punch of this summer’s mortgage rule and guideline changes may overwhelm the housing market, the president of CAAMP said during a national TV broadcast this week.  “The federal government introduced four set mortgage rule changes in June…we also saw some new underwriting guidelines from OSFI and also some changes by the CMHC,” said […]

Ottawa tightening mortgage rules; no more 30-year amortizations

The federal government is moving again to tighten the rules on mortgage lending in Canada amid growing concerns that the housing market is overhere The country’s biggest banks were caught off guard on Wednesday night as the Department of Finance prepared to clamp down on mortgages by reducing the maximum amortization for a government-insured mortgage […]

Banking watchdog backs off its get-tough approach to mortgage lending

By Susan Pigg Business Reporter Ottawa’s banking watchdog has backed down on one of its toughest proposals for reining in household debt — making sure that Canadians’ credit risk is evaluated every time they renew their mortgages. In an unusual “interim update” of tighter lending guidelines it hopes to issue this summer, the Office of the Superintendent […]

Nova Scotia’s Proposed Broker Rules

Nova Scotia has new mortgage broker regulations in the works and they look like a win for the province’s homeowners. In a nutshell, they provide NS borrowers with better disclosure and more assurance that the broker they are dealing with is competent and acting in their best interests. A few of the proposals may need […]

Interprovincial Mortgage Brokers

The Internet has made doing business possible across the farthest reaches of the globe. It’s not surprising then, that technology is fostering mortgage brokering across provincial lines. More and more, we see out-of-province brokers advertising and quoting rates in other provinces. This is making the mortgage market more price-efficient and lowering costs for consumers. While […]

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