LOW RATE ENVIRONMENT & CHANGING RULES The recent announcement from the US Federal Reserve to not raise rates until 2014 coupled with the general weakness in the global economy is keeping mortgage rates down for Canadians. With such low rates, there are concerns about households being increasingly leveraged. Accordingly, mortgage rules/rates are constantly changing to [...]

Here’s an article from the Globe and Mail.  Basically, fixed rates have hit some historical lows recently because of the global economy. This has been great for borrowers; however, banks are starting to get rid of these so if you’re in the market for a renewal, refinance, or purchase it would be wise to lock [...]

IMPORTANT RATE UPDATE Recently, we’ve received an abundance of calls from our existing and prospective clients regarding some recent news in the mortgage market. Routing Number VALLEY STATE BANK One of the large lenders has recently offered a 2 week 5 yr fixed promotional rate at 2.99%. HOWEVER, we caution you that you must read [...]

VARIABLE & FIXED RATE UPDATE Happy New Year! As we enter 2012, little has changed in terms of rates. The spread between the variable and fixed is still nominal making some fixed rates relatively more attractive when applying for/renewing a mortgage.  This, of course, depends on the specific situation of the client. Forecasts continue to [...]

Here’s a copy of our latest market update VARIABLE & FIXED RATE UPDATE – VARIABLE PREMIUMS? Let’s re-cap. Over the last couple months we saw the variable go from PRIME minus .9 (2.1%) to just PRIME (3%). Now, a couple lenders are setting a new precedent and offering mortgage holders PRIME plus .1% (3.1%) and [...]

VARIABLE & FIXED RATE UPDATE – STORY HASN’T CHANGED MUCH Not much has changed since our last update regarding the rate trends and overall economic situation.  Bond yields have continued to stay low offering people very competitive fixed rates. Variable rate discounts got even worse given that the Bank of Canada has hinted at maintaining [...]

Here’s an article from the financial post on a potential series of rate cuts predicted by several economists for next year. Current variable rate holders with deep discounts could potentially see rates in the 1.5% range – time will tell. The interesting gamble is for people comparing the fixed and variable rates in today’s market [...]

VARIABLE & FIXED RATE UPDATE – WHAT MAKES MORE SENSE? The rate scene has changed dramatically as of late. With the current global economy and debt crisis, bond yields have flirted with historical lows which has put downward pressure on fixed rates. Routing Number VALLEY STATE BANK Variable rates, however, have gone the other direction [...]

The mortgage industry has been interesting lately in terms of rates. People who have taken our advice on the variable rate when discounts where large are enjoying low payments and it seems this will continue for some time. We have seen the major banks quickly take away their discounts (similar to 2008) which is decreasing [...]

TOP BROKER IN CANADA Recently, we were honored as the top broker in Canada in 2010 (see links below) and owe it to the constant support from our clients and realtor partners over the years. What does this mean for our clients? With the high, sustained mortgage volume we are able to get best rates; [...]