TD Joins RBC in Raising Fixed Rates – Ask Adil Virani – Vancouver Mortgage Broker

TD Joins RBC in Raising Fixed Rates  By Rob McLister, Editor, CanadianMortgageTrends.com” After cutting advertised rateslast week, TD Canada Trust has followed RBC’s leadin lifting rates back up. Like RBC, TD is raising its advertised: 4-year fixed …by 10 bps to 3.09% 5-year fixed …by 20 bps to 3.29% These changes take effect Tuesday, June 11. And if history is a guide, they’ll likely be matched by […]

Variable vs. Fixed Rates – The Latest – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com As many as 85% of newmortgagors are choosing fixed rates, says CAAMP. It makes you wonder, what is it going to take to get that number back to its historical average of ~65%? For one thing, the fixed-variablespread (i.e., difference between fixed and variable rates) needs to widen. With today’s typical 5-year fixed at 2.84% and […]

Yields Spike. Fixed Rates May Follow – Ask a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com   Yields Spike. Fixed Rates May Follow If you’re house hunting or thinking of refinancing, and you don’t have a mortgage rate hold, consider getting one. Canada’s 5-year bond yield just pierced a 3-month high. That means—barring a big reversal—there’s a good likelihood that fixed rates will ratchet higher. (Bond yields steer fixed […]

The cost of buying a home: It’s not just the mortgage, silly! – Ask a Vancouver Mortgage Broker

Associated costs include down payment, closing costs, moving costs and new appliances. By: Kristin Kent Special to the Star,  Adam Frank and his girlfriend MaryAnne, both 29, knew they wouldn’t become homeowners overnight. The two were realistic and grounded in their approach. They had conversations. They researched. They crunched numbers. Infographic: It’s your money (a practical guide) – […]

Would shorter amortizations make the housing market safer? – Ask a Vancouver Mortgage Broker

Canada’s banking watchdog seems intent on stamping more risk out of the mortgage market. The latest idea being floated by The Office of the Superintendent of Financial Institutions (OSFI) is to limit amortizations to 25 years for homeowners who have put down 20 per cent of the purchase price or more. The current maximum is 35 years. If this […]

Why it’s harder for self-employed to get a mortgage – Contact a Vancouver Mortgage Broker

Why it’s harder for self-employed to get a mortgage Self employment is more common, but banks are more cautious about giving mortgages to people who fall into this category. By: Ryan Starr Staff Reporter., Published on Fri May 10 2013   Vick Vij knows all about the challenges self-employed folks face when they try to get a mortgage. […]

FSCO frustrated by unlawful advertising – Consult with a Vancouver Mortgage Broker

Too many unlicensed brokers and not enough resources has FSCO frustrated with the deluge of public complaints over illegal mortgage brokering advertisements.   “The guys who post the signs on the street posts, under the street lamps, they are preying on people in dire financial situations,” says Bhan Persaud, the senior licensing approvals officer with […]

Early exit from closed mortgage can cost you dearly – Consult with a Vancouver Mortgage Broker

Early exit from closed mortgage can cost you dearly If you sign a mortgage deal for five years, you should ask how much you’ll pay if you leave early. The penalties can be shocking By: Ellen Roseman On Your Side, Published on Tue May 07 2013 When you buy a house and sign up for a fixed-rate mortgage, […]

4 easy ways to reduce your mortgage costs – Ask a Vancouver Mortgage Broker

When it comes to saving on your mortgage, making pre-payments and shopping around at renewal time are good ideas By: Madhavi Acharya-Tom Yew Personal Finance writer The Georges live in a two-bedroom condo across from High Park. In the next couple of years, they hope to buy a house west of Toronto. They plan to use the […]

So-called “Best Rate sites” are put to the test with shocking results.- Ask a Vancouver Mortgage Broker

by Steve Garganis There’s been a surge of ‘Best Rate’ sites popping up… Chances are, you’ve probably seen one or more of their online ads…   You know the ones…‘shopping’ for the Best mortgage rates in Canada’ and ‘comparing Canada’s mortgage brokers for the best rate”.   It does sound great… and it seems to be getting lots […]

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