The Canadian Association Of Accredited Mortgage Professionals (CAAMP) does a great semi-annual survey where they interview 2,000 Canadians to get a deeper understanding of the Canadian residential mortgage market. The survey is anticipated by our
There is no such thing as a silly question. What amortization period means is a great one. Very often mortgage professionals will fly over financing terms that haven’t been properly introduced to borrowers making an assumption that the terminology is understood. Read More
Everything you need to know this week about Canadian mortgage interest rates. Rates remain low and there is nothing on the horizon likely to change that. There is still lots of so-called global economic headwind
I can’t seem to avoid the conversation about real estate in Canada. This past weekend I must have been asked at least half a dozen times about my thoughts on the market. I always give the same cautiously optimistic response. However I am not an economist and can’t delve deep into the fundamentals but Benjamin Tal, chief economist of CIBC, can. Read More
Last week the Globe & Mail published an interesting article in their mortgage section entitled pay your mortgage like it’s 2007 by Vancouver mortgage broker Rob McLister. In the article Rob points out that mortgage interest rates are half of what they were 5 years ago in 2007 (see graph below).
You may have heard about B-20 in the media in recent weeks. It’s not the name of Canada’s newest bomber plane but rather a new mortgage lending guideline for all federally regulated financial institutions to follow. It has already changed the Canadian real estate landscape by making it more difficult than ever for Canadians to access mortgage funds. Do you know how B-20 will effect you & your mortgage? Read More
If you ever thought that working in a family business would be a chore think again! Sure, you can’t get away from your family. Ever. But at the same time there are some sweet perks. I found this out last month when I went to the Long Beach California for the 2012 Globaltech Formula 18 Catamaran World Championship. Read More
Mortgage renewals have a way of sneaking up on you just like birthdays. Chances are that when you receive your renewal notice in the mail you will be caught off guard and simply sign back your lender’s offer without negotiation. In fact, roughly 70% of Canadian mortgage holders do this. And it’s costing them hundreds of dollars in unnecessary interest expense. Read More
Do you have title insurance on your home? I bet you do! And for good reason. It’s there to protect you from fraud. Each year title fraud costs Canadians hundreds of thousands of dollars. If you aren’t sure if you have title insurance and what this important tool covers then you’ve got to read on.