Posts tagged ‘Mortgage Financing’
By The Numbers: October Statistics
Tweet The following is a selection of key statistics published by the Canadian Association of Accredited Mortgage Professionals. The numbers reflect the slight increases we have seen to fixed rate mortgages and the spreads on variable rate mortgages. Tweet
Mortgage 101: Down Payment
Tweet Down payment is an important piece of the puzzle when you apply for your first mortgage. Lenders like to see that you are coming to the table with your own money at play. It shows that you have had the ability to save/invest which helps with the overall application. If you are considering buying [...]
The State Of Mortgages In Canada Report from CAAMP
Tweet The Canadian Association of Accredited Mortgage Professionals, a body that serves as the industry voice to government, media and regulators, released their Annual State of the Resident Mortgage Market in Canada Report this week. The sixth annual report compiles data to give an overview of the evolving state of the residential mortgage market in [...]
The Old Man, The Boy & The Donkey
Tweet An old man and a young boy were traveling through a village with their donkey. The boy rode on the donkey and the old man walked. As they went along they passed some people who remarked it was a shame that the old man was walking and the boy was riding. The man and [...]
The Banks and The Mortgage Game
Tweet This week I read an article in The Financial Post stating that 60% of mortgages in Canada are held by chartered banks. My father often talks to me about the ‘good ol’days’ when chartered banks weren’t in the residential mortgage business period. He often reflects back on the time when the majority of residential [...]
Files Of The Broker: What Is A Judicial Sale?
Tweet 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 [...]
Files Of The Broker: Oddball Property Private Mortgage Financing
Tweet 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. The purchase is even more remarkable when you consider that the jail, fire-hall, [...]
Monday Mortgage Minute June 7th 2010
Tweet 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 [...]
Monday Mortgage Minute – May 31st
Tweet 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 [...]
