A Positive Spin on Rising Mortgage Rates
Mortgage rates have been rising over the past few weeks, and that has left most consumers, both homeowners and home buyers, crying that they won’t be able to afford their mortgages. Of course these rising rates do have an impact on those looking to get a mortgage, and they can marginally increase monthly payments for…
Read moreNew CMHC Rules Mean Cancelled Pre-Approvals for Brokers and Clients
The announcement was made at the beginning of this month that CMHC is changing their rules, and placing a cap on the amount of guarantees they’d be handing out to any individual lender. The first fallout we were to feel from that was higher mortgage rates at all lenders across the board, something worrisome indeed…
Read moreHow will Mortgage Brokerages Work in 2020?
We all know that anything mortgage brokers and their brokerages do affects the consumers that use them. So what’s going to be happening to this industry within the next 7-10 years? And how is that going to affect you? Michael Sjerven, a principal broker with Verico Vivid Mortgage in Vancouver looks at the biggest changes…
Read moreCanada has More Insured Mortgages, but Fewer Defaults than the States
For years we’ve been making comparisons between Canada and the United States. Truth be told, we’ve probably been making those comparisons ever since there was a border went up between the two countries. But in the past five years specifically, we’ve been making comparisons between their housing market that imploded on itself, and our housing…
Read moreNew CMHC Rules will Result in Higher Mortgage Rates
It’s widely known that mortgages backed by CMHC are largely default-proof on the part of the lender, because they’re guaranteed by the Crown organization. It’s also known that CMHC has been nearing its limit for mortgage insurance, and that Finance Minister Jim Flaherty has no interest in increasing that limit at all. Now, the pressure…
Read moreWould a Tax Credit Keep Contractors, and Homeowners, Honest?
It’s not uncommon for things to go illegitimately awry when you take on home renovations. Just last week we talked about how contractors can sometimes be dishonest; and we all know that homeowners undertaking expensive renos are sometimes wont to take shortcuts from time to time. Especially if they can save a few bucks while…
Read moreHiring the Right Contractor, and not Just a Con
It’s summertime and that means millions of homeowners are perusing their outdoor living space to find home renovations that need to be done before the cold weather settles back in. The biggest part of doing any work is hiring a contractor. Simply put, there are some really good ones and some really bad ones. And…
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