Five things to do if you are over-extended on your mortgage – Ask a Vancouver Mortgage Broker

Mortgage default may be rare in this country, but nearly 9% of indebted households need 40% or more of their gross income to pay their debt service charges, says the Bank of Canada Financial System Review. If you can see problems coming, then you can take action to avoid foreclosure, which happens when lenders run […]

10 Best-Kept Secrets for Buying a Home – Ask a Vancouver Mortgage Broker

Get the most out of your money with these handy home-buying tips. More from Buying & Selling: 20 Best-Kept Secrets Filed under: Home Buying, Home Staging, Remodeling Buying Secret #10: Keep Your Money Where It IsIt’s not wise to make any huge purchases or move your money around three to six months before buying a new home. You don’t […]

Why no rate hike means variable mortgages are safe again – Ask a Vancouver Mortgage Broker

Garry Marr | More from Garry Marr | @DustyWallet A signal from the Bank of Canada that it is not raising its key lending rate any time soon, coupled with the likelihood of falling mortgage rates, could be enough to keep the latest housing rally going. Bank of Canada drops rate guidance, lowers growth forecast There’s been a sea […]

The ultimate mortgage checklist: How to get the best possible deal – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER – Special to The Globe and Mail These questions will help you snare the most feature-rich mortgage possible, at a rate that’s better than average The lowest possible rate is how many define a good mortgage. But that’s like judging the “best car” by the one with the lowest monthly payment. Anyone who’s had to […]

The Ultimate Mortgage Checklist – Ask Adil Virani, Vancouver Mortgage Broker

Have you ever had a sick feeling in your stomach after buying a car, or a big screen TV, or a boat, or expensive jewelry? It’s that nagging worry that you’ve bought the wrong model or spent more than you should have. Buyer’s remorse is common with big ticket purchases, but it’s not as common […]

A Side Effect of Rate Warnings – Consult with Adil Virani, Vancouver Mortgage Broker

“The longer it (low interest rates) goes on, the more people can start to think this is normal and it’s not normal; it’s very, very far from normal.”— Julie Dickson, OSFI Superintendent, Sept. 23, 2013 via MortgageBrokerNews.ca When people hear an authority—like the head of Canada’s banking regulator—make these statements, it compels many to lock in […]

Laurentian Closes Mobile Rep Operation – Ask a Vancouver Mortgage Broker

Laurentian Closes Mobile Rep Operation Some banks, like CIBC, have been on a hiring spree when it comes to mortgage reps. Not Laurentian Bank. It’s going the other way. “We have announced [Wednesday] that Laurentian Bank had decided to no longer offer residential mortgage loans through an internal team of mobile advisors,” said a spokesperson. […]

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 […]

Fighting Mortgage Fraud – Consult with a Vancouver Mortgage Broker

Fighting Mortgage Fraud Special to CMT, By Karen Beattie, NEXSYS Financial  Mortgage fraud in Canada has increased by a staggering 50% in recent years, according to Equifax. While accounting for only 13% of attempted frauds in 2011, mortgage fraud was responsible for two-thirds, or $400 million, of the estimated dollar amount of financial fraud in Canada. […]

StatsCan’s National Household Survey – Consult with a Vancouver Mortgage Broker

StatsCan’s National Household Survey Three out of five homeowners are saddled with mortgages. But in many ways it’s harder being a renter. Statistics Canada finds that a significantly larger percentage of renters are overextended than homeowners in this country. That’s one of the more noteworthy findings in its National Household Survey (NHS) data released this week. Other highlights:   […]

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