Blog

  • New Mortgage Rules make Changing Lenders Difficult

    I came across this article in the Financial Post today that confirms some of the things I have been writing previously, and makes some interesting points about clients renewing their mortgages, and the handcuffs that the changes have placed on those renewing their mortgages that they qualified for with the looser mortgage rules previously.

  • Dollar Soars, Mortgage rates to follow

    The Bank of Canada made a decision to keep the prime lending rate as it is for now, but removed the guarantee that mortgage rates will stay low through to July. This is a strong indication that the Bank of Canada will increase their prime rate by at least 0.25% at the next update in…

  • Variable mortgage rates to stay low until next year

    According to the FINANCIAL POST, on Thursday, the chief economist of CIBC, Avery Shenfeld, has estimated that the Bank of Canada prime rate will continue to remain low into 2011 due to lower productivity and a strong Canadian dollar. This has been in line with my previous thoughts on what will happen with low variable…

  • Vancouver area residents struggle with housing costs

    Based on the article Canadians struggle with high housing costs in the Vancouver Sun, 67 percent of Vancouver households struggle with housing costs, and cited a problem with affordable housing. (I know its a shock that Vancouver housing is unaffordable…try and contain your disbelief).

  • Banks increase 5 year fixed mortgage rates

    Today, Toronto Dominion Bank (TD) and The Royal Bank of Canada (RBC) increased their 5 year fixed rates by 0.6%, which is a significant increase. It is expected that other bank lenders will follow with their posted rates. These institutions usually price their discounted mortgage in relation to their posted mortgage rates, so it could…

  • Fixing Your Variable Rate Mortgage?

    Today could be the day you save yourself hundreds of dollars a month! This is a quick note for everyone that has a variable rate mortgage with a bank or credit union. With the anticipated rate increases coming soon and the opportunity to get locked in right now available, many of you may be thinking…