BMO’s No-Frills 2.99% mortgage offer is not ground breaking…just another trap by the Big Banks.
Posted by Jeff Trounsell (jefftrounsell) on Jan 18 2012
Blog >> January 2012
Source: www.canadamortgagenews.ca
EXTRA, EXTRA, READ ALL ABOUT IT…. 5 years fixed No-Frills mortgage for 2.99% by BMO….wow, can you believe it? ...
Posted by Michael LaPrairie
on January 28, 2012
It's now January 2012, high canadian consumer debt load is in all the news media, your New Years resolution might have been to work on reducing your debt, so here's a great way of looking at it. Fixed mortgage rates are at historical lows…a 5 year fixed rate can be had for 3.39% and in some cases, even 3.29%. Does it make sense to refinance your mortgage and consolidate ...
Posted by Michael LaPrairie
on January 5, 2012
Qualifying Rate
Mortgages with variable rates or fixed terms under five years typically require that you qualify at a higher rate (called the “qualifying rate.”).
For example, if you apply for a 2.25%, 5-year variable mortgage, the lender might make you qualify at their posted 5-year rate (5.54% for example).
Qualifying rates are used to ensure borrowers can handle their payments ...
Posted by Adam Knight
on July 11, 2011
Many mortgage industry professionals feel the government's new tougher mortgage rules are weak attempts in dealing with consumer debt.
With the average canadian debt to income ratio at 148.1%, many feel that more agressive efforts should target personal debt accrued by high interest credit cards, personal loans and lines of credit.
Many feel the tougher mortgage rules will have little impact on ...
Posted by Sylvie Lalumiere
on March 18, 2011
BMO Canadain Housing Outlook 2011
BMO's conclusion is that the broad Canadian market is moderately overvalued. They argue that as incomes rise and prices stabilize, this overvaluation will subside to a reasonable level without any correction in home prices.
Unfortunately, they see the Vancouver market as much more overvalued, with a 20% year-over-year increase to January 31st having ...
Posted by Chantal Vignola
on March 5, 2011
Today the Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent.
The global economic recovery is proceeding broadly in line with the Bank’s expectation, although risks remain elevated. U.S. activity is solidifying and remains supported by stimulative fiscal and monetary policies. The pace of the European economic recovery is buoyed down by the ...
Posted by Adam Knight
on March 1, 2011
Finance Minister Jim Flaherty is cracking down on Canadians' ability to qualify for a mortgage, in the government's latest attempt to rein in consumer debt.
As reported earlier today the Canadian Federal Government has imposed new mortgage regulations for borrowers.
What I believe the federal government is trying to achieve by imposing these new regulations is to shelter the Canadian housing market ...
Posted by Morgan DuVernet
on January 17, 2011
Canada's regulations in the housing sector have saved us from the mistakes of other countries and helped us thru the recession; to build on that strenght, new measures are taking effect March 18, 2011:
1) Maximum amortization on new government-backed insured mortgages reduces from 35 to 30 years.
2) Maximum amount to borrow when refinancing mortgages reduces from 90 to 85% of the value of home. ...
Posted by Sylvie Lalumiere
on January 17, 2011
Anna Labadze Vancouver Realtor 604.782.3552
Tips to reduce your mortgage costs Buying a home is the biggest investment most people make. Whether you're a first-time buyer or you're refinancing your home, saving money on mortgage payments means you'll be financially ahead. Here are seven tips to cut your mortgage costs:
1. Get a competitive rate. To get the best rate, you have to ...
Posted by Anna Labadze
on November 1, 2010
Yes, this is how LOW Mortgage Rates are TODAY!
If you have been waiting on the sidelines for the right time, this is it! You probably have missed the boat in the over 7 years ago and missed it again in 2008, this could be as good as it gets. Opportunities never wait for the indecisive. Pick up your phone and get a rate hold. And let's start shoping for your new home ...
Posted by Oliver Po
on October 21, 2010