Posts tagged ‘Toronto Mortgages’
Bank Of Canada Rises Prime Rate -September 8th 2010
Tweet Today the Bank of Canada announced that it is raising the prime rate by one-quarter of a percent for the third time in a row. The bank has observed that economic recovery is continuing to move forward but is improving much more slowly than anticipated. Despite the lackluster economic data the bank still increased [...]
Monday Interest Rate Review August 23rd 2010
Tweet Mortgage interest rates continue to stay low as weak numbers indicate that we are still far from full economic recovery. Rates are always changing and it’s hard for a borrower to explore and shop the entire market to ensure that they are getting the right product and best rate. Mortgage brokers are people who [...]
What is a Conventional Mortgage?
Tweet As a Toronto mortgage broker it’s important for me to remember that there is mortgage jargon and terminology that my audience may not be familiar with. When I work with clients I try and make the experience as educational as possible and I always make an effort to step back and explain mortgage terms [...]
Monday Interest Rate Review for August 16th 2010
Tweet If we were to take a general macro view of fixed mortgage rates in Canada one can say that when the markets (i.e. TSX, DOW etc) are strong there is upwards pressure on fixed rate mortgages and the opposite is also true so that when the markets are weak there is downwards pressure on [...]
Mortgage Interest Rates For July 12th
Tweet I was out of the city this past Monday camping in Killbear Park far from any internet connection making it impossible to get my Monday Mortgage Minute up. I’ll just briefly post the current rates for anyone who is looking to see how rates have changed since last week. Chris Molder – Son Of [...]
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, [...]
Gifted Down Payment
Tweet Mortgages are very dynamic transactions. There are areas of the mortgage approval that don’t warrant any kind of special consideration but if for whatever reason the lender’s guidelines cannot be satisfied one can compromise the successful funding of a mortgage. Proof of down payment is one of those areas. Generally speaking proof of down [...]
Monday Mortgage Minute- Toronto June 21st
Tweet 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 [...]
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 [...]
