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 [...]

On April 19th 2010 new mortgage rules came into effect which have made it a little bit more challenging to qualify for a variable rate mortgage. Traditionally lenders qualified your maximum mortgage amount based on their current 3 year fixed rate. However, today it is a little bit more complicated and this post will help [...]

The problems over seas in Europe are already hitting close to home as bond yields have dipped for the last couple of days indicating that investor confidence is shaken. This bodes well for borrowers looking to get into fixed rate mortgages as there may be a reversal to the sharp steady increases to fixed rate [...]

Mortgage interest rates continue to climb for the 4th week in a row. There is a lot of discussion between observers and economists who think that the banks are prematurely driving rates up as highlighted in Rob Carrick’s Globe & Mail article, “Are Big Banks Jumping the Gun?”. With each passing week the variable option [...]

I have observed recently that both first time home buyers and seasoned owners alike struggle to understand CMHC insurance.  From a borrower’s perspective the insurance premium paid up front for the benefit of a mortgage lender seems heavy handed and unfair. However, without CMHC you wouldn’t be able to buy or refinance your homes unless [...]

After a very quick increase to fixed rate mortgages over the past 2 weeks mortgage lenders have started to compete for the new fixed 5 year. The standard rate is 4.59% however some lenders have introduced their quickclose rate at 4.39%.
The dilemma of deciding to go fixed over variable is on every borrower’s mind these [...]