Five mortgage market truths, like you can do better than 2.99% – Consult with a Vancouver Mortgage Broker

Here are five things you need to know about the mortgage market as the spring home-buying season gets going: 1. That 2.99 per cent Bank of Montreal five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3-per-cent mark for fixed-rate five-year mortgages is being treated as […]

How lower interest rates are making variable mortgages more tempting – Ask a Vancouver Mortgage Broker

Consumers facing record housing prices are probably increasingly tempted to go with a floating rate mortgage and all the risks that come with an interest rate linked to prime. The lure is right in your face on every mortgage rate comparison site. The five-year fixed-rate mortgage has dropped as low as 3.09% with discounters and […]

Be careful before you break that mortgage – Consult with a Vancouver Mortgage Broker

Low mortgage rates tempt, but penalties for breaking can be high You want some of these record low rates on the market but you’re locked into a mortgage. Just break it, right? Not so fast, there’s a key question you need to ask before you commit to break a mortgage: how much will it cost […]

Five mortgage market truths, like you can do better than 2.99% – Ask a Vancouver Mortgage Broker

ROB CARRICK- THE GLOBE AND MAIL Here are five things you need to know about the mortgage market as the spring home-buying season gets going: 1. That 2.99 per cent Bank of Montreal five-year mortgage isn’t quite as good as it sounds. BMO’s recent move to bring its rate below the psychologically significant 3-per-cent mark for […]

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 […]

CUs: A Lower Bar on Qualification Rates – Ask a Vancouver Mortgage Broker

Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate. That rule applied to mortgages with less than 20% equity. In 2012, OSFI asked federally regulated lenders to apply the same rule to all variable and 1- to 4-year fixed mortgages, regardless […]

3 Reasons to Refinance Your Mortgage – Consult with a Vancouver Mortgage Broker

Refinancing your mortgage – it sounds scary at first! But having the option to refinance can actually be a good thing. In fact, refinancing your mortgage can be a great financial tool – one that helps you accomplish financial goals at a low interest rate – but be careful! A refinance leaves you on the hook […]

The #1 Rate Indicator Right Now – Ask a Vancouver Mortgage Broker

Abnormally low inflation is keeping Stephen Poloz awake at night. The Bank of Canada (BoC) admitted as muchon Wednesday. Analysts took the BoC’s headline comment (“downside risks to inflation appear to be greater”) as a sign that rate hikes will be a 2015 story. But, for now, there is one key indicator that trumps Canadian CPI inflation, and […]

Mortgage rates today are way below normal. Or are they?- Ask a Vancouver Mortgage Broker

Finance Minister Jim Flaherty called Canada’s low interest rates an “anomaly” last week, echoing warnings that other government officials have been making since 2009. But one of the country’s best-known economists believes today’s rates are closer to normal than many think. Benjamin Tal, deputy chief economist at CIBC, caught viewers off guard in a recent […]

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 […]

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