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Real Estate Prices and Sales Down in Vancouver
The mortgage news of the day today is that the Canadian housing market has cooled down considerably the past couple months compared to this time last year. The Canadian Real Estate Association has reported that housing sales are down 45% in Vancouver this year compared to July of 2009. Prices have also dropped since April,…
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Online Mortgage Applications – Do You Know Who You Are Dealing With?
A question that I often receive when meeting with mortgage clients is “why is it that you do not have an online mortgage application?” I think today is a good day to write about exactly why I do not employ this tool in my mortgage operation, and I think it is food for thought for…
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Another Debate on Variable vs. Fixed Mortgages
In this article in the Financial Post, the age old debate of variable rate mortgages vs. fixed rate mortgages is raised…yet again. It infers that people are in over their heads with variable rate mortgages and that most people are best getting into a fixed rated mortgage.
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West coast couple stakes it all on property – Alternative Analysis from a Mortgage Broker
I came across this article today in the Financial Post, in which a financial planner breaks down the situation of a volunteer reader. He delivers an opinion that I am inclined to disagree with. Although I am a mortgage broker and not a financial planner, I will attempt to explain my thoughts in detail with…
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ICICI Bank Joins The Mortgage Broker Channel
Although I had heard of ICICI Bank previously, we as mortgage brokers did not have access to them for our clients, and the client would have to go directly to one of their few branches to obtain a mortgage. However, this has now changed, and I now have access to this relatively new bank. There…
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Slow US Economy Could Affect Canada Variable Rates
Further to my comments yesterday about continuing to recommend variable rate mortgages to clients, there is a new story about the Chairman of the US Federal Reserve talking about an uncertain economic recovery in the US.
