Posts tagged ‘Mortgage 101’
Fixed Vs. Variable, A Little Advice From Boris Bozic
The debate about fixed over variable is starting to heat up again as the spread between fixed (3.59%) and variable (2.25%) is shrinking. Over the past 3 years my father and I have observed a very interesting trend of borrowers preferring variable over fixed rate mortgages but that wasn’t always the case.
Mortgage Radar: Inflation Stays Low Which Is Good For Mortgage Rates
Statistics Canada announced that in the month of February the inflation rate actually dropped. If you need to revisit grade 11 Economics then you can check out the wiki inflation definition here. The inflation rate and mortgage rates, specifically variable mortgage rates, have a very close relationship and it is worth while understanding how inflation [...]
The Mortgage Radar: Why Rate Rise Fast & Fall Like Molasses
Mortgage interest rates have edged up slightly which always triggers a steady stream of questions from SOB.com readers about the reason rates increase and what to do about it. The latest issue of The Bank Of Canada review posed the question Why Do Mortgage Rates Rise Quickly But Fall Like Molasses? The answer may be [...]
Mortgage Radar: Bond Yields Up Mortgage Rates Likely To Follow
It looks like we may be moving further away from those all time low fixed rate mortgage rates that we enjoyed over the summer and fall of 2010. Bond prices are falling as investors move their money away from the safe haven of bonds and explore higher yield options in the investment market place. This [...]
How To Improve Your Credit Score? 9 Steps
Your credit score is such an important part of your mortgage application. In this video I share 9 steps to improve your score. If you have stressed credit and need help rehabilitating your score contact us 416.461.0204. We are specialized in second and private mortgages.
The Mortgage Radar: More On The New Mortgage Rules, Will Prices Drop Due To Changes, Opinions On Helocs, It Starts With Budgeting
The mortgage headlines here in Toronto and across the country have been dominated by the January 17th announcement by Finance Minister Jim Flaherty. The new mortgage rules will have bite and definitely effect the ability of young Canadians and marginalized borrowers to participate in the market. It will be interesting to see how the changes [...]
Mortgage Interest Rate Review January 19th 2011
I am back from my holiday in Argentina and ready for the challenges of 2011. Mortgage interest rates have slowly but steadily increased since 2010 and this time the rise seems to be much less volatile than previous spikes that we’ve seen over the past 12 months. I believe that the era of sub 4% [...]
Bank of Canada Prime remains Unchanged and Feedback on New Mortgage Rules
This week there were two mortgage related headlines that we wanted to communicate to you. 1. The Minister of Finance announced 3 changes to mortgage rules that will come into effect on March 18th 2011. 2. Making less head lines than usual the Bank of Canada met and decided to keep the prime rate unchanged. [...]
The Mortgage Radar: One Of Kind Unique Property Financing, RRSP to Fund Your Own Mortgage, Extra Payments Go A Long Way
A few months ago my Dad added a couple of posts to this blog in the “Files of the Broker” section. One of his post was about “Oddball Property Private Mortgage Financing“ where he explained the challenges of financing unique homes and told the story of how he used his Mortgage Investment Corporation to finance [...]