Lucky address can add up to big gains in house sales – ask a Vancouver Mortgage Broker

You don’t have to believe in superstition for it to hex your house, if the results of a forthcoming Canadian study are any indication. What bubble? Canadians have their mortgage covered, study shows Mortgage arrears are actually going down in just about every market across Canada — making a U.S.-style meltdown unlikely,Conference Board says Reporting […]

Here’s why paying off your mortgage isn’t always the best idea – Consult with a Vancouver Mortgage Broker

It amounts to financial heresy to some conservative investors but paying down your mortgage early just might not be the best plan. Should you rent or own your home? People say that when you grow up, you buy a home. Who are these “people?” Your married friends, your parents and other grown-ups who ask: “Don’t […]

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 […]

Analyzing BMO’s Go-Fixed Advice – ask a Vancouver Mortgage Broker

Fixed rates are now “superior,” said BMO in this report released Thursday. “While we have in the past supported going variable,” circumstances now “favour…locking in…” That’s been BMO’s rally cry since 2010 when it proclaimed “Time to Say Goodbye…to Variable.” In retrospect, that advice would have cost mortgagors handsomely. But BMO was far from alone in that […]

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 […]

Jim Flaherty move shocks brokers – Ask a Vancouver Mortgage Broker

Finance Minister Jim Flaherty has stepped down. “Yesterday, I informed the prime minister that I am resigning from cabinet,” Flaherty said in a statement. “This was a decision I made with my family earlier this year, as I will be returning to the private sector.” Flaherty – who has been unpopular among the mortgage broker community – […]

Why Joe Oliver as Finance Minister is just a short-term fix for Stephen Harper

OTTAWA/CALGARY • Surprise or not. Best candidate or not. Neither much matters. In the end, Joe Oliver’s appointment as Finance Minister was obviously the best choice for Prime Minister Stephen Harper. Unlike Jim Flaherty, new Finance Minister Joe Oliver has already earned his Bay Street cred   Theresa Tedesco: Canada’s new Finance Minister is a […]

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 […]

Canadian first-time home buyers’ budget rises to $316,000, 6% more than last year – Consult with a Vancouver Mortgage Broker

TORONTO — A Bank of Montreal report on first-time home buyers says the average budget has increased to $316,100. That’s up nearly 6% from an average of $300,000 in last year’s report on first-time home buyers. The BMO study says a sample of prospective buyers in Vancouver, Toronto and Calgary had even higher budgets for […]

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