More self-employed hitting mortgage wall because of recent rule changes

For years, most of Marg Green’s self-employed clients could count on getting a mortgage on the strength of their credit score, and on their word that they were earning enough from their business to repay the loan. These days, because of rules brought in almost two years ago by the regulator of the country’s chartered […]

What bubble? Canadians have their mortgage covered, study shows – Consult with a Vancouver Mortgage Broker

A new Conference Board of Canada study says there’s no housing bubble about to burst and maintains Canadian are having no trouble handling their debt even as it sits close to record levels. ‘Every man for himself’: Homebuyers’ top 5 bidding war stories One in three Canadians are willing to enter into a bidding war […]

Mortgage shopping? Two stars and four dogs from today’s market – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER–  Special to The Globe and Mail Eight months ago, some were proclaiming the end of 2.99-per-cent five-year mortgage rates, for years to come. And now, low and behold, they’re back. But you have to hunt much harder for 2.99 per cent than you did last spring. Some lenders, especially banks, are wary of […]

Mortgage Terms: Stars & Dogs – Consult with a Vancouver Mortgage Broker

After “What is your best rate?” the next most popular mortgage question is probably “Which term do you recommend?” — or a variation thereof. But it’s tough to generalize about the best mortgage because borrowers have unique needs. To get around that, we have to use limiting assumptions and make a best guess at the risk/reward of each […]

Home buyers squeezed out of market must save more – or settle for less – Consult with a Vancouver Mortgage Broker

DAVID ISRAELSON- Special to The Globe and Mail When the Occupy movement hit the headlines in 2011, we heard about the 99 per cent, but when it comes to getting a mortgage there’s another group in Canada – the 9 per cent. These are the nearly one in 10 prospective home buyers who as recently as […]

Realtors say Canada’s housing market can still grow – Ask a Vancouver Mortgage Broker

Home sales and prices are expected to still grow over the next two years, albeit at a slower pace, says the national organization that represents realtors. In Canada’s housing market here’s what $500 K buys: A lake in Edmonton … a condo in Toronto From four bedrooms in Windsor to one-bedroom in Vancouver, check out […]

Record home building in Canada drives spike in building permits – ask a Vancouver mortgage broker

Record Canadian housing construction led a faster-than-expected gain in building permits in January, government data showed one day after the central bank predicted a soft landing in the country’s real estate market. North America’s top 20 housing markets: Vancouver, Toronto, Calgary among most expensive Is Canada’s market overheated? Here’s a look at the prices in […]

Fixed mortgages now trump variable, report says. Not everyone agrees – Consult with a Vancouver Mortgage Broker

Fixed-rate mortgages have gained an edge over variable-rate mortgages given the improving economy and attractive offers on longer-term deals, says a new report from economists at one of Canada’s big banks. “Fixed now modestly trumps variable,” according to a BMO Nesbitt Burns study published Thursday. While many mortgage brokers agree with that assessment, others caution […]

CMHC’s move to hike mortgage insurance premiums prompts competitors to follow – Ask a Vancouver Mortgage Broker

The cost of mortgage default insurance is about to go up for most consumers after competitors moved quickly to follow Canada Mortgage and Housing Corp.’s decision to raise premiums. In Canada’s housing market here’s what $500 K buys: A lake in Edmonton … a condo in Toronto The Canadian Real Estate Association has predicted that […]

Get ready for house prices to continue to rise in Toronto- Ask a Vancouver Mortgage Broker

It’s only two weeks of data, but the Toronto Real Estate Board is reporting the first 14 days of February saw existing home prices continue to rise. Safe as houses? Canadians think their homes will fund their retirement Almost a quarter of Canadians say they are planning on using their home as their primary source […]

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