Posts tagged ‘Toronto Mortgages’
Toronto Mortgage Radar: Canadians Now Carrying $1 Trillion of Mortgage Debt, Interest Rate Differential Help, The Hidden Costs of Buying a Home
Tweet The big news this week in mortgages is big. How big? One Trillion dollars big. The media has gone to town on this report by CAAMP. But really how much is One Trillion Dollars? Check out the video below expressing One Trillion as per July 2009 in the U.S.. You will notice in the [...]
The Mortgage Radar: Delights from Deloitte, Financial Consumer Agency of Canada, Owning A Home The Numbers
Tweet Last week Deloitte, a major international accounting and consulting firm, released a very flattering report regarding Canadian mortgage brokers and their importance to Canadian borrowers. The Wallstreet Journal article highlights why mortgage brokers are important to the mortgage market place. I couldn’t agree more or be prouder. Do you know what FCAC stands for? [...]
TD Collateral Mortgage: Green Fuzzy Handcuffs
Tweet Last Monday on the 18th of October the TD bank made an announcement that set the mortgage industry a buzz. It sparked immediate debate calling into question the integrity of the bank and how it would effect borrowers. Essentially what TD has done is figured out a way to prevent borrowers from leaving them [...]
Monday Mortgage Rate Review Minute
Tweet 2.70% – 1 Year Fixed 2.90% – 3 Year Fixed 3.49% – 5 Year Fixed (quick close Nov 30th) 3.09% – Merix 50/50 Mortgage (Fixed/Variable hybrid) P-.65 3 Year Variable (2.35%) P-.75 5 Year Variable (2.25%) Prime Rate is currently 3.00%. Bank of Canada Qualifying rate 5.39%. NOTE: Rates are subject to [...]
Monday Mortgage Rate Review on a Wednesday
Tweet I was away on a sailing regatta in Delaware this past Monday so I missed posting my Monday Mortgage Minute interest rate review however I saved myself from having to post twice this week because today some exciting mortgage interest rate drops were announced today. You can read about the boring technical reasons why [...]
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 [...]
What Is A VTB or Vendor Take Back Mortgage?
Tweet This generation of first time borrowers are spoiled rotten. Imagine their shock 5 years from now when their ultra low 3.59% fixed rate mortgage is renewed into a more realistic 6% mortgage? When I speak to older borrowers who have been around the block a few times I am constantly reminded by them of [...]
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 [...]
Mortgage Financing For Artscape Triangle Lofts
Tweet Artscape Triangle Lofts is a very unique condominium development. It has been created with the specific purpose of preserving important artist work/live space in the Queen West Triangle. Artscape Triangle Lofts includes a mix of affordable rental units for professional artists as well as below-market ownership units for artists and non-profit arts professionals. I [...]
