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More Mortgage Changes Ahead!

Last week the government announced yet another set of rule changes that will impact the conventional mortgage market; those who have at least 20% equity/down payment on their property.  They have implemented what is called a “stress test”, effective… Continue reading

Your Credit Bureau-What You Need to Know

Have you ever wondered why your credit score is as low as it is when you are diligent in meeting the monthly obligations?  It’s derived of more than your repayment history & how many inquiries you may have.  … Continue reading

Bank of Canada Raises Rates

The Bank of Canada raised rates for the first time in seven years. The new benchmark rate is .75%, up .25%. The Bank says Canada’s economy has been “robust”. As for future rate hikes, the Bank didn’t give much indication.… Continue reading

New Mortgage Rules=Lower Purchasing Power

Here’s a great article written by a colleague of mine, Dustan Woodhouse, about how the new mortgage rules have severely limited purchasing power.

The average person if stopped on the street and asked; Are today’s low interest rates driving up… Continue reading

If Only Your Dream Home Had…

If you’ve been house hunting for any period of time (especially in the GTA and surrounding areas), it usually won’t take long until you realize that it can be a very daunting experience.  Just when you think you may… Continue reading

Mortgage Insurance Premiums Set to Increase

Effective March 17, 2017, high ratio insurance premiums will be increasing. This comes right on the heels of the changes the federal government set out in October. Below is a chart of the new premiums:

Loan-to-Value Ratio Standard Premium (Current)… Continue reading

Attention Dentists: Own Your Own Location

Are you a dentist and you’re currently leasing your premises?  If you’ve been contemplating buying a location for your practice but don’t feel you can come up with the required down payment, don’t be discouraged.  My lenders can offer loan to values up to 100% of the purchase price, subject to approval.  Rates as low […] Continue reading

Mortgage Costs about to Rise?

The link below will take you to an article outlining how consumers can expect to see mortgage costs start to rise in the next few months.  This is unrelated to changes in the prime rate.  A must read for anyone that has a mortgage or hopes to have a mortgage. http://www.canadianmortgagetrends.com/canadian_mortgage_trends/2016/05/mortgage-costs-about-to-rise.html     Continue reading
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