CMHC and Genworth will be increasing their premiums, effective May 1, 2014. This increase will only effect new mortgage applications, not existing insured mortgages through the two provides.The overall dollar amount increase will range depending on the mortgage amount, but the premium added to mortgages with 5% down is 3.15%, 10% down will see 2.40% […]

Hello, The following is a column I wrote the back in April 2012…I keep referring to it. And wanted keep you updated as to what is currently happening in the marketplace. Fixed (rates) – not fluctuating or varying; definite When it comes to your mortgage, don’t you wish you had a reliable physic or crystal […]

March 2014 OSFI will presented to the public for comment, here is the enitre article. One casualty of new restrictions could be 30-year mortgages ROBERT MCLISTER Special to The Globe and Mail Published Monday, Nov. 25 2013, 7:00 PM EST Since 2008, regulators have been trying to contain housing risk by piling on new mortgage […]

It looks like fixed rates on are on the move again. But does that mean you should absolutely 100% opt for a fixed mortgage. Nope, I don’t think so! Weigh the pros and cons! Previous suggestions was that the prime lending rate of 3.0% would go up in late 2014 or early 2015 and now […]

With the ever changing landscape for secured finances (leverage against real estate) it’s impossible for the average person to keep all the policies straight between all the chartered banks, credit unions and the security back mono-line lenders. The one sector of borrowers that are finding it harder and harder to place their mortgages are business […]

If you are planning on buying a new home over the next two years, then you need to know about the 2% BC Transition Tax. It is a new tax that comes into effect on April 1, 2013. It will apply to the sale of new residential homes that are 10% or more complete as […]

The Beacon score or credit score determines the probability that you will pay your bills on time and in full. Beacon scores are sometimes referred to as FICO scores, and both names are from the credit bureaus that developed the scoring. Keeping track of this important number is vital. Inquiries to your score are recorded […]

Most real estate deals are fairly straightforward and both a lawyer and notary will prepare the documents for you. If you are buying a home, they will: conduct a title search, obtain tax information and any additional info to prepare a Statement of Adjustments. Then they will prepare closing documents, including a title transfer, mortgage, […]

Lets face it, everyone wants the lowest rate possible for their mortgage.  However, is the lowest rate always worthwhile?  Let’s take a look at an example: Bob Smith is a Business owner in Vancouver.  He has a modest business that is experiencing growth year after year.  Bob enjoys the many perks of being a business […]

Choosing Your Mortgage Amortization Selecting the length of your mortgage amortization period – the number of years it will take you to become mortgage free – is an important decision that will affect how much interest you pay over the life of your mortgage. While the lending industry’s benchmark amortization period is 25 years, and […]