Mortgage misc

ultimate mortgage checklist 

Posted on Oct 25, 2018 in Mortgage misc

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 cough up a mortgage penalty or deal with refinance limitations can vouch for one thing: Mortgage restrictions can easily outweigh small (e.g., 0.10 to 0.15 percentage point) differences i...

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marginally higher interest rates

Posted on Oct 24, 2018 in Mortgage misc

Local mortgage broker, Oliva Brown provides below is a brief update following the Bank of Canada’s decision to raise rates this morning which was widely expected.

• The benchmark interest rate increased by 0.25% to 1.75%
• For context, an increase of 0.25 basis points per $100,000 costs about $12 per month in mortgage payments
• This decision was bas...

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cmhc to help self-employed with mortgage

Posted on Aug 10, 2018 in Mortgage misc

If you are self-employed, you're part of a growing trend.

About 15 per cent of Canada’s workforce is now self-employed, a group that typically finds it more difficult to qualify for a mortgage because their income may vary or be less predictable.

As of October 1, 2018, Canada Mortgage and Housing Corporation (CMHC) mortgage loan insurance will be ava...

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mortgage rate forecast

Posted on Mar 03, 2018 in Mortgage misc

Canadian mortgage rates have continued 2017’s upward trend. The five-year qualifying rate for insured mortgages bumped up 15 basis points to 5.14 per cent while discounted rates offered by lenders increased similarly to 3.39 per cent. The increases were driven by
the earlier than expected rate increase by the Bank of Canada in January. The Bank has...

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tighter lending environment?

Posted on Jan 25, 2018 in Mortgage misc

On January 17, 2018, the Bank of Canada (BOC) raised its overnight interest rate 25 basis points to 1.25 per cent citing the growing economy and rising inflationary trends.

In anticipation of this increase, the six major banks raised their posted five-year, fixed-rate mortgage rates to 5.14 per cent from 4.99 per cent.

How will this affect mortgage h...

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Decoding upcoming mortgage policy changes

Posted on Dec 26, 2017 in Mortgage misc

January must be right around the corner because, once again, Canadians are facing a momentous change in mortgage policy.

It's almost a tradition that Canada's mortgage czars clamp down on housing in the new year. This year is no exception with the federal Office of the Superintendent of Financial Institutions (OSFI) enacting the big kahuna of credit...

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