Cashback Mortgages Live On – Find a Vancouver Mortgage Broker

Cashback Mortgages Live On A month and a half from now, cashback down payment mortgages will be no more – at least for institutions regulated at the federal level anyway. Alternatively, these mortgages are sometimes called 100% financing. The scrapping of such financial products is the result of the new B–20 mortgage regulations, mandated by […]

Itemizing Up-Front Closing Costs

When you buy a new home, lenders like to see proof that you can cover the closing costs. To satisfy this condition you typically have to demonstrate your ability to pay an additional 1.5% of the purchase price at closing, on top of your down payment. But not everyone knows what closing costs entail. TD recently […]

45% of Canadians unprepared for emergency spending

CTVNews.ca Staff Published Monday, Aug. 13, 2012 8:15AM EDT Last Updated Monday, Aug. 13, 2012 5:31PM EDT A new poll for one of Canada‘s biggest banks reveals many Canadians don’t have a reserve fund set aside to cover unexpected emergency expenses. According to the poll conducted for CIBC, 45 per cent of Canadians have no […]

Housing starts rose in June: CMHC

OTTAWA — Canada Mortgage and Housing Corp. says the pace of housing starts rose in June, driven by urban multiple starts — condos, apartments and the like. The federal agency estimates there were 20,327 actual starts in June across the country, up from 18,494 in June 2011. Tweaked to remove monthly variations, that produced a […]

Cottage sales booming as buyers seek out lakeside bargains

Susan Pigg | Mon Jun 18 2012 The call of the loon — as well as lots of choice and a few bargains — is drawing Canadians back to the lake in numbers not seen since 2008, according to a report on the cottage market released Monday by Re/Max. Sales are up in 70 per cent of Canadian […]

Condos drive Canada’s housing start surge

Canada’s condo building frenzy showed no sign of abating last month, as housing starts surged to their highest level since 2007. While some analysts had predicted housing starts would weaken after a particularly strong March, starts in April rose to an annualized rate of 244,900, readily beating predictions of 204,000 made by most economists.   […]

Pros and cons of a mortgage broker

When Chris Vale and his wife Keli Hines bought a home in Oshawa, they arranged a mortgage through an in-house firm their real estate agent’s company had. “We were told, ‘Here’s the rate and here’s what you pay,’ ” Vale recalls of the transaction, which took place several years ago. Then Vale met mortgage broker […]

Finding the right home, with or without Mr. Right

ANGELA SELF | Columnist profile Globe and Mail Update I have a single friend sitting on the fence between buying and renting. She’s financially ready to make the leap into homeownership, but hesitant about doing it solo in case she meets someone soon. Waiting for Mr. Right can derail a number of women’s homeownership plans, according to […]

45% of brokers procrastinate on re-licensing

It has come down to the wire for nearly half of Ontario’s 12,000 mortgage professionals – who, with only a month left on the clock, had yet to complete that do-or-die re-licensing course. “What can I say? That’s the industry” Joe Rosati, executive director for the Independent Mortgage Brokers Association of Ontario, told MortgageBrokerNews.ca.  “FSCO […]

B.C. lawyer tackles CIBC over mortgages

Garry Marr, Financial Post · Oct. 21, 2011 You just made the largest purchase of your life based on borrowing more than you ever have before. Are you really going to bother reading that 25-page contract with all the rules on your mortgage? The answer is usually no. The truth is you should. The ambiguity in […]

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