Looks like consumers maybe getting some help in the future from the federal government with regards to mortgage prepayment penalties. The Dept of Finance says they are working on new regulations that will make these penalties more clear to consumers. This is still in the early stages so nothing spec
08.10.2010| Mortgage News | mark
No CommentsThere is a lot of talk about interest rates in the news today. Both on long term and short term. The BOC (Bank of Canada) gets together July 20thwith thier next announcement. Virtually every part of the financial sector is expecting a 25 basis point increase. This would put the prime rate back a 2.7
07.12.2010| Mortgage News | mark
No CommentsThe Financial Post has a article today discussing the likelihood of another small rate hike by the BOC on July 20th. They are making a case that even though inflation is within target itis getting towards the upper limit. They want to raise the rate almost in advance of the inflation numbers to keep
06.22.2010| Mortgage News | mark
No CommentsThe BOC has decided to keep rates as they are, BUT they have now lifted the commitment to hold the current rate till July 2010. What does this mean to us? We know the rate cannot go any lower so I guess we can assume that a increase is a given at this point. How much? How Soon? & How Fast? are w
04.21.2010| Mortgage News | mark
No CommentsLots of concern this morning over the move by RBC and TD on their 3, 4, and 5 year fixed rate mortgages. My hope is that the media doesn't grab it to hard and run it into the ground. Increases are going to come and go and we are all going along for the ride. This is where timing comes into play. D
03.29.2010| Mortgage News | mark
No CommentsGreat article this morning on the Financial Post Mortgage Center. All about credit scores and how they affect your ability to qualify for a mortgage.http://www.financialpost.com/personal-finance/mortgage-centre/story.html?id=2661110 They are suggesting that credit scores below a certain number
03.22.2010| Mortgage News | mark
No CommentsSo far this morning I have heard and read about 6 different media outlets talking about core inflation and higher mortgage interest rates on the horizon. This is one of those stories that gets so much attention, obviously because it affects so many of us Canadians with mortgages. The questions about
03.19.2010| Mortgage News | mark
No CommentsI have been wondering if we are going to see an increase in home owners taking out 1st 2nd, and 3rd mortgages to consolidate credit debts. There seems to be an ever increasing amount of consumer debt and at some point debtor's will need to get a handle of repayments. Sometimes a debt consolidation m
03.18.2010| Mortgage News | mark
No CommentsThis question is one that even the most educated analysts have a hard time answering. The variable is the more visually appealing option as it is usually lower. But! for how long? Will it go up?By how much? We can compute numbers on it till our calculators die but in my opinion what it comes down to
03.17.2010| Mortgage News | mark
No CommentsThe games are all ago around our office and we have seemed to get by unscathed to this point. The courier drivers are unhappy as they cannot park but our customers seem to be okay as well as the staff. We are still working on plenty of 2nd mortgages, debt consolidations and equity loans all over BC
02.19.2010| Mortgage News | mark
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