In my last post I wrote about an astute investor who exploited the opportunity of a Judicial Sale when he bought a unique, mixed-use property, for a bargain price of under $100,000. Such opportunities come up frequently but are missed by most people because they don’t know where to look specifically. In addition, the term [...]

All signs are pointing to lower fixed rate mortgages again for the 3rd time this year. Bond yields are low and as a result we are seeing fixed rate mortgage prices dropping just a little bit further this week. The Bank of Canada has also dropped its benchmark qualifying rate for high ratio mortgages by [...]

What do you get when you try to buy a property that was once a jail, fire hall, dance hall & town hall? A financing conundrum.
This is exactly what one of our clients purchased, where we provided private mortgage financing.  [...]

Mortgages are very dynamic transactions. There are areas of the mortgage approval that don’t warrant any kind of special consideration but if for whatever reason the lender’s guidelines cannot be satisfied one can compromise the successful funding of a mortgage. Proof of down payment is one of those areas.
Generally speaking proof of down payment is [...]

It looks like the fixed mortgage rate market has stabilized after the bank of Canada’s  decision to increase the prime rate earlier this month. While rates aren’t as low as earlier this year, mortgage interest rates still remain low historically speaking.
With signs that the housing market is cooling and interest rates are staying low you [...]

World Cup fever is on in Toronto and mortgage interest rates are remaining low and stable. While a variable rate mortgage may not fit everyone’s needs it remains a good option in today’s market. Give me a call to discuss whether it is right for you?
Chris Molder – Son Of A Broker 416.461.0204
2.80% – 1 [...]

Following the Bank of Canada’s interest rate announcement last Tuesday we weren’t too sure in which direction the fixed rate market would move. Mortgage lenders responded by lowering their fixed rate mortgage rates. They also increased the spread on the 5 year variable rate mortgage from P-0.50 to P-.60 giving an effective rate of 1.90% [...]

The Bank of Canada today announced that it is raising the prime rate by one-quarter of a percent. Canada’s economy is growing faster than expected along with inflation. But uncertainty about Europe’s debt crisis will affect how quickly interest rates can rise.  Click here to read the full Press Release.
If you are curious about “What [...]

Toronto mortgage interest rates haven’t changed over the past 7 days. However tomorrow morning after the Bank of Canada makes their decision regarding the prime rate we could see some interesting movement in the fixed rate mortgage market. Stay tuned for more.
Chris Molder – Son Of A Broker
2.85% – 1 Year Fixed
3.85% – 3 Year [...]

I didn’t manage to get this post up yesterday it was way too nice of a day! As explained in past videos, fixed rate mortgages are dependent on bond yields. Over the past 2 weeks the yields have suffered as a result of the economic turmoil in Europe caused by the Greek crisis. Even positive [...]