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Sunday, February 2nd, 2020

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 […]

To get a mortgage, you’ll need to have a stellar credit score – Ask a Vancouver Mortgage Broker

The following article is from Canadian Real Estate Wealth Magazine. When you begin shopping around for a mortgage the importance of your credit history and score becomes evident. Your credit score is an important item that will determine what interest your mortgage agent will be able to offer you. It should be a priority because it […]

High credit card rates costing Canadians a fortune- Consult with a Vancouver Mortgage Broker

April 9, 2013 by  
Filed under Recent News

High credit card rates costing Canadians a fortune Interest rates have never been lower. Banks are falling over themselves to loan money to people to buy houses – with rates as low as 2.99%. The low rate environment has got so bad the finance minister asked the banks to stop engaging in so-called mortgage wars. Should […]

How to clean up errors on your credit record: Consult with a Vancouver Mortgage Broker

By: Ellen Roseman Personal Finance Columnist, Published on Tue Feb 12 2013 EXPLORE THIS STORY  Scott Smith, 24, is an MBA student. He’s proud of paying his bills on time and having an excellent credit record. So, he was surprised to find his credit score had plunged when he checked in with the two Canadian credit bureaus. There […]

My credit score is 788: What does it mean? – Ask a Vancouver Mortgage Broker

A good credit score is important if you plan to borrow money because it means you’ll qualify for lower interest rates on loans and have access to a variety of credit offers. Your credit score indicates the risk you represent for lenders when compared to other consumers.  Higher scores are viewed more favorably.  The two […]

Fix your poor credit rating- Ask a Vancouver Mortgage Broker

Request a free annual credit report to check for errors, suggests Gail Vaz-Oxlade. Did you ever see the CBC Marketplace episode where they asked 100 Canadians to check their credit reports for errors? Forty of those people found problems. Not exactly confidence-building when it comes to what those reports are saying about you, right? So […]

3 Financial Predictions For 2014 That Will Be Good For Your Wallet – Ask a Vancouver Mortgage Broker

What will the New Year bring? NerdWallet predicts it may come with a few changes that will boost your bank account. The personal finance site published a list of upcoming financial trends and policy changes that could shape 2014. We pulled out three predictions that would be good for you and your money: Credit cards will offer more perks.“Last year, […]

7 Deadly Money Sins That Can Wreck Your Credit

By Gina Roberts-Grey Religion aside, we’ve all heard of the seven deadly sins. Working at a personal finance website as we do, we got to thinking about what the seven deadly money sins would look like: Gluttony: Trying to eat your money. Lust: Sleeping with your neighbor’s bank account. Sloth: Napping all day on your […]

Canada Household Debt: Majority Frets About What They Owe, But Still Think Others Are The Real Problem

With policymakers warning about rising household debt levels, a new survey shows that Canadians are both worried about what they owe, and in denial about how their debt compares to those around them. The seemingly contradictory conclusion was reported on Monday by the Toronto-based online mortgage comparison service 

Average Canadian’s consumer debt hits $25,960

The average consumer’s debt load climbed to a record high $25,960 at the end of 2011, although annual data from a credit bureau report released today suggests that the Canadian love affair with debt is waning. Consumer debt, which excludes mortgages, edged 1.4 per cent higher in the fourth quarter of 2011 from the previous […]

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