In the past week, there was virtually no change in the bond or mortgage rates.  Costs of all funds remain extremely low. All lenders and mortgage insurers are continuing to tighten up on lending policies. This makes it even more important that you are dealing with full time, seasoned professionals for your mortgage advice. We […]

Bonds remained relatively steady this week with no  major changes to interest rates. We have seen a slight tweaking of fixed funds for high ratio or quick closings, offering a 5 year fixed at 2.99%.Regular 5 year money is currently in the 3.09% – 3.19% range. We still have one lender, both conventional and high […]

Bonds remained relatively steady the past week with only slight upward pressure. No changes expected in interest rates at this time. Five year money is currently in the 3.09% – 3.19% range. We still have one one lender, both conventional and high ratio, offering 10 year funds at 3.89%. Over the past week we have […]

Risks with the Rent to Own Program ( Feb 1st, 2013 ) Think twice before considering the Rent to Own Program…Good article from CBC News articulating the risks involved in Rent to Own programs.  http://www.cbc.ca/news/canada/manitoba/story/2012/09/10/mb-rent-to-own-housing-winnipeg.html  

  These new rules have been approved and are now in the process of being implemented by all Federally Regulated Financial Institutions (FRFIs) across Canada. They have to be in place by each lender’s year end (by December 31st, 2012 at the latest). Some banks are now changing the maximum loan to values from 80% […]

News Release: Scotiabank has an agreement to purchase the Canadian operations of ING Direct. At this time it would appear that ING will continue to operate as a strong independent brand, offering self service banking, and investing without branch services and advice.   Mortgage Brokers will continue to provide clients with mortgage advice while obtaining […]

The lack of global economic turmoil the past few weeks has seen the bond rates rise by approximately 20 basis points. There is some pressure to see a small increase in the fixed mortgage rates. 5 year money continues  to the 2.99% – 3.09% range.      We have one lender that will secure 10 year […]

The bond rate has remained in the lower range the past couple of  weeks and as a result we have seen lenders tweak 5 year money to the 2.99% – 3.09% range. We have one lender that will secure 10 year funds at 3.89% both conventionally and high ratio. If you have had any thoughts […]

The bond rate dropped marginally over the last week which could lead to a potential tweaking of fixed rates. We now have one lender offering 3.89% both conventionally and high ratio.We previously had 3 lenders offering 10 year funds at 3.89%. If you have been thinking about the 10 year option. Now is the time […]

With the new mortgage regulations last week, every lender saw instant increased volumes. As a result, we are experiencing slower turnaround times. On the conventional side, a few of our lenders have tightened amortizations to be consistent with that of the new changes but we do still have many offering the 30 -35 year amortizations. […]