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.  [...]

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% [...]

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 [...]

If you are applying for a mortgage or any other type of credit, a lender will always want to see your credit score. Having a strong credit score is so important to a mortgage application. When I sit down with clients and it comes to checking credit, there is often a sense of uneasiness because [...]

2.65% – 1 Year Fixed
3.85% – 3 Year Fixed
4.35% – 5 Year Fixed

3.25% – Merix 50/50 Mortgage (Fixed/Variable hybrid)
P-.40   3 Year Variable
P-.50   5 Year Variable
NOTE: Rates are subject to change without warning at the lender’s discretion.

One of the keys to successfully qualifying for a mortgage or any other type of credit is learning how to use your credit card. Credit cards can be a very useful tool when used properly but unfortunately credit cards don’t come with instructions.
When I work with first time home buyers the most common blunder that [...]