Posts tagged ‘Toronto Mortgages’
Files Of The Broker: Oddball Property Private Mortgage Financing
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, town-hall [...]
Gifted Down Payment
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 payment [...]
Monday Mortgage Minute- Toronto June 21st
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 [...]
Monday Mortgage Minute June 7th 2010
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% [...]
Monday Mortgage Minute – May 31st
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% [...]
Monday Mortgage Minute – Toronto Interest Rates May 24th
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 [...]
Monday Mortgage Interest Rate Minute May 10th
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.
New Merix Fixed 5 year with 90 Day Ratehold
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 [...]
Monday Mortgage Minute May 3rd 2010
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 [...]