Japanese Bank Urges Canadian Government to Slow Housing Market
Finance Minister Jim Flaherty may have thought he had the last word after stating that he was tired of hearing Canadian banks call for a tightening of mortgage rules, and that he really thought banks should take on the responsibility of changing their own mortgage rules. Since then, people have kept pretty mum about the…
Read moreGetting a Mortgage on a Rural Property? Speak to a Mortgage Broker First!
Getting a mortgage in Toronto can be tough when you want a condo located right down, or a single detached in Rosedale. But when you’re talking about moving into Pickering or other rural areas, and you want a mortgage that’s for agricultural land but that you’re going to use as residential, it can get a…
Read moreWhy National Bank Didn’t Join the Mortgage Wars
When BMO started offering deeply discounted mortgages, not just once but twice already this year, many of the Major Six banks in Canada were quick to follow. The first time, many backed out of their deals early because of falling profit margins and increased bank bonds. The second time most of the banks stuck true…
Read moreWho’s Driving the Housing Market? First-Time Homebuyers!
According to an annual survey recently taken by Genworth Financial Mortgage Insurance Company Canada, one of the private mortgage insurers in Canada, first-time homebuyers are the ones that are currently the driving force behind the Canadian housing market, and that they will be for the next several years to come. The survey questioned 1,533 Canadians…
Read moreWhy You Must work with a Broker when Getting a Second Mortgage
Getting a Toronto second mortgage should be fairly easy, right? You already have a first mortgage and now you just need a little extra cash. Like the smart borrower you are, you know that taking out a second mortgage will cost less in interest (and therefore, less overall) than any other kind of debt, so…
Read moreBe Prepared if you Want to Refinance Your Mortgage
Refinancing your mortgage sounds like such a simple thing, doesn’t it? You decide that one part of your current loan isn’t working out very ideally for you – maybe you want a longer term or a longer amortization period – and you go speak to a mortgage broker who can help make that happen. Easy….
Read moreThings to Watch for when Refinancing
Now that rates are so low, and expected to remain low for the next several months, it’s led many homeowners to think that now is the time to refinance. Refinancing, especially at a time like this, can be extremely beneficial and can save homeowners thousands of dollars. But when it’s time to refinance, there are…
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