General Leslie Morris 4 Jan
There are some big changes to mortgage lending rules that have taken effect on January 1st, 2018. These rule changes impact both existing mortgage holders and those seeking mortgages. Here are some key points everyone should know. What’s the big change? New mortgage guidelines require lenders to vet applicants with down payments of 20 percent […]
Read MoreGeneral Leslie Morris 13 Oct
The new mortgage stress test is unnecessary and harmful. With additional mortgage regulations on the horizon it is more important than ever to deal with a mortgage broker who understands the industry and can help you make the right financial decision for your mortgage needs. If you are considering refinancing your mortgage to access equity […]
Read MoreGeneral Leslie Morris 6 Sep
Ever wonder how your mortgage rate is determined? What factors make it jump from percentage to percentage? We are getting down to the nitty gritty today and giving you the facts on what impacts mortgage rates. What affects a Mortgage Rate? There are 10 factors that affect a mortgage rate: 1. Location Depending on which […]
Read MoreGeneral Leslie Morris 6 Sep
The Bank of Canada forged ahead with another interest rate hike in a nod to the country’s surging economy, while signaling its appetite for further tightening may be curbed by a rising Canadian dollar and sluggish inflation. Policy makers raised their benchmark rate for a second time since July, by 25 basis points to 1 […]
Read MoreGeneral Leslie Morris 2 Aug
Yikes! Most of us will cringe at the idea of rising interest rates and their effect on our ability to afford the mortgage payments that some Canadians are already struggling to make. Our homes are the single biggest financial investment that most of us will ever make. For the first time since July 2015, the […]
Read MoreGeneral Leslie Morris 25 Jul
If you have yet to purchase your first home, or if you’ve considered selling your home and finding something new, taking a look at the market and finding something in your price range can be tricky. Feeling overwhelmed? You’re not alone. Many cities all across Canada are experiencing the same thing – rising house prices […]
Read MoreGeneral Leslie Morris 12 Jun
http://www.mortgagebrokernews.ca/business-news/bank-of-canada-says-next-move-likely-an-interest-rate-hike-226670.aspx The Bank of Canada offered its strongest signal yet that it’s ready to raise interest rates as the economy gathers steam, in surprise comments that sent the Canadian dollar and bond yields soaring. In a speech Monday, Senior Deputy Governor Carolyn Wilkins highlighted how the nation’s recovery is broadening across regions and sectors, giving […]
Read MoreGeneral Leslie Morris 30 May
Congratulations! You are now the proud owner of a new home! You also likely own a rather intimidating mortgage as well. That debt may seem like a daunting mountain you’ll be chipping away at for years, but you could actually pay it off faster than you realize. Here are five hot tips from mortgage-handling pros […]
Read MoreGeneral Leslie Morris 12 Apr
You might think you would be rewarded for toiling away to save a down payment of 20% or greater. Well, forget it. Your only prize for all that self-sacrifice is paying a higher interest rate than people who didn’t bother. Once upon a time we had high ratio vs conventional mortgages, now it’s changed to; […]
Read MoreGeneral Leslie Morris 15 Mar
Avoid these 5 common mistakes, and you will have no problem getting your mortgage faster, more efficiently, and with a clear understanding of the process: 1. Thinking banks are the first and best place to go for a mortgage Mortgage brokers can often beat the bank rates by using different lending institutions. The bank is […]
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