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Thursday, July 21st, 2016

Are bank online mortgage break-fee calculators reliable? Not always – Consult with a Vancouver Mortgage Broker

Are bank online mortgage break-fee calculators reliable? Not always ROBERT MCLISTER– Special to The Globe and Mail Getting a quote for the cost of breaking your mortgage early – and understanding it – hasn’t always been easy. That was supposed to change last year when the Finance Department compelled banks to put penalty calculators and guidelines […]

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 […]

New Rules or Old Rules for Mortgages – From your Friendly Vancouver Mortgage Broker

New Rules or Old Rules for Mortgages – From your Friendly Vancouver Mortgage Broker During the previous four and a half years, the feds have introduced over two dozen changes in both new policies and regs that have had an impact on Vancouver home mortgages. With good intentions in mind, this Vancouver mortgage broker understands […]

Finding Vancouver Mortgages Is Stressful

Finding Vancouver Mortgages Is Stressful A recent poll conducted by ING Direct and Angus Reid was just released. This survey revealed nearly 66% of Canadians and those seeking Vancouver mortgage who were questioned do not find the process of obtaining their mortgage to be all that easy or uncomplicated. In fact, a mere 7% of […]

The Ongoing Debate of Fixed Versus Variable Vancouver Home Mortgages

The Ongoing Debate of Fixed Versus Variable Vancouver Home Mortgages If you ever want to get a rowdy conversation going then all you have to is blurt out – ‘Which is better – fixed or variable rate mortgages?’ When it comes toVancouverhome mortgages, you will get a host of different opinions from even the pros. It’s […]

Why Vancouver Home Mortgages won’t be Like the U.S.Crash – Ask a Vancouver Mortgage Broker

Why Vancouver Home Mortgages won’t be Like the U.S.Crash  Ever since the U.S.housing bubble crashed so dramatically and completely, some doom- sayers north of the 49th parallel are saying our housing market is facing the same calamity. Is it time to start with the hand wringing? The answer is largely no, but that’s not to […]

First Time Home Buyer – Ask a Vancouver Mortgage Broker

First Time Home Buyer Being a first time home buyer can be a scary yet exciting venture. For many people, buying a home is the most significant investment they will make. As aVancouvermortgage broker, I can tell you that if you plan carefully and get all your ducks in a row before you buy, the […]

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 […]

Mortgage Platform Down

Mortgage Platform Causes Problems for Vancouver Home Mortgages For several days last week, there was no way for thousands of brokers to send applications to lenders. This affected brokers across Canada including those dealing in Vancouver home mortgages. This resulted because the mortgage industry’s largest mortgage origination platform temporarily went down; the platform is called, “Expert”. This […]

Why mortgage penalties are so hard to understand

By Peggy Mackenzie If you want to break your mortgage, there are two ways to calculate the penalty. One uses three months’ interest and the other uses the Interest Rate Differential (IRD).  The bottom line is that with either method, if you want to take advantage of lower interest rates, it’s going to cost you. […]

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