Farewell 2017

Farewell 2017

2017 is drawing to a close, and we’re looking forward to welcoming the new year and the opportunities it may bring. It’s been a year of many mortgage rule changes, new regulations, mortgage stress test, foreign buyer tax, and more. The one thing that hasn’t changed is...
Why visit 30 lenders, when you can use just one?

Why visit 30 lenders, when you can use just one?

One of the best things about working with a mortgage broker is that it saves you time. For example, through the Mortgage Alliance network, we have access to over 30 mortgage lenders. This helps us find the best deal for your situation without requiring you to visit 30...
Are interest rates on their way up again? Maybe not.

Are interest rates on their way up again? Maybe not.

The year is coming to an end, and it appears that the federal government has finished with significant regulatory changes affecting home ownership and mortgage lending in Canada. Their overall objective was to introduce measures intended to “cool” the housing market...
5 things you need to know about fixed mortgages

5 things you need to know about fixed mortgages

A fixed-rate mortgage is pretty much what it sounds like: a mortgage with a interest rate that is fixed. Whereas a variable rate fluctuates throughout the term of your mortgage, a fixed rate (and your monthly payment) stays the same throughout the term. A fixed rate...
More rule changes mean more reasons to use a mortgage broker

More rule changes mean more reasons to use a mortgage broker

The next new mortgage regulation, which comes into effect 1 January 2018, will require borrowers to qualify based on a rate that is 2 percentage points above the contract rate or the Bank of Canada posted 5-year rate (currently 4.89%), whichever is higher. The “stress...
New mortgage rules coming in 2018

New mortgage rules coming in 2018

Earlier this week, the Office of the Superintendent of Financial Institutions released details of mortgage changes that will take effect 1 January 2018. The most significant change is a new stress test for homebuyers with uninsured mortgages (typically mortgages with...