Posts Tagged ‘mortgage

Many people underestimate the importance of their credit score. This blog will highlight some of the problems that can arise if you don’t pay attention to your credit score. Credit makes the world go around. Without a credit score, or if you have a poor credit score, it could prevent you from buying a car, […]

Enjoy your weekly Rates & News updates!  Mortgage Rates: 1yr 2.89% 2yr 2.99% 3yr 2.69% 4yr 2.89% 5yr 3.19% 6yr 4.29% 7yr 4.49% 3yr variable closed (Prime – .65%) = 2.35% 5yr variable closed (Prime – .60%) = 2.40% Canada mortgage rates keep sliding How Much Lower Can The Yields Go Interesting insights from CREA: […]

No indication of rates increase as the rates sit tight at 3.19% for 5 year fixed mortgages. The lowest in Canada’s history. I would urge everyone to lock their mortgages now to take advantage of these low rates before the Bank of Canada will start increasing the prime rate again. Rates: 1yr 2.89% 2yr 2.99% […]

Mortgage Rates Continue To Slide, But How Much Longer? Rates: 1yr 2.89% 2yr 2.99% 3yr 2.69% 4yr 2.89% 5yr 3.19% 6yr 4.59% 7yr 4.49% 3yr variable closed (Prime – .70%) = 2.30% 5yr variable closed (Prime – .60%) = 2.40%

Everyone has their budget for buying their next home. This “budget” starts out at an amount that the buyers know they can comfortably afford. Then buyers typically end up putting in offers for the maximum that they can afford, and eventually they end up buying the home for much more than they can afford, and […]

You might have to accept apologies on this blog post because it might see somewhat like a rant. But seriously, how much money should Canadians be expected to pay for a home? How much debt should a family take on in order to have a home in a good neighbourhood in Toronto. Perhaps some people […]

There has been a lot of discussion lately about whether it is better to rent or buy. has written a few real estate blogs on the subject. The Globe and Mail’s Rob Carrick has written an article, plus a follow up article on the subject. It’s a popular topic. The Bank of Canada, in […]

There are many factors that affect the price of housing. Supply, demand, jobs, geography, demographics, advertising, peer pressure, Government regulations (CMHC) and interest rates all affect house prices in their own way. Clearly interest rates have a definite impact on the price of homes. You could speculate that interest rates are the most important factor […]

Welcome to the Spring/Summer of 2011, where multiple offers on homes are the norm, 105% and higher above asking price is not uncommon, and mortgage rate fluctuations of 0.35% can happen overnight. In my 11 years in this industry I have not seen this particular set of circumstances all occurring at once and to the […]

Have you ever found yourself saying ‘Wow this would be the home of my dreams but man the bathrooms or kitchen is out of date, or its going to need some repairs or renovations to make this home just right.’ Don’t immediately walk away from that open house or place your home on the market […]

There seems to be a shift in thinking for our young Canadians. A recent study conducted by RBC found that 55 per cent of legal age Canadians under 35 are considering holding off on a home purchase till next year. This result is 10 percentage points above the national average. For many their main argument […]

When talking about the future of rates there are many factors to consider among them are the local economy, world economy, Bond Markets, World Markets, and current political climate. But predicting the future of rates is like predicting where a helium balloon will end up if you let it go. You got a general idea […]

In January, Canadian Finance Minister Jim Flaherty announced changes in the nation’s mortgage rules, limiting the amortization period on “high-ratio” mortgages, and imposing new constraints on home equity lines of credit. Beginning on March 18, 2011, the maximum amortization on a home mortgage with less than 20% down will drop from thirty-five to thirty years. […]

The new mortgage rules just announced, state that the new maximum amortization will be 30 years, instead of 35 years. What does this mean for affordability and home prices in Canada Example: Let’s take an example of a family that makes $100,000 a year and has a $30,000 down payment. When they purchase a […]

Big news just announced in the housing market is that Finance Minister, Jim Flaherty just announced the following changes to the mortgage rules in Canada: * Mortgage amortization periods will be reduced from 35 years to 30 years. * The maximum amount Canadians can borrow to refinance their mortgages will be lowered from 90 per […]

This real estate video discusses 6 steps to help buyers improve their credit score in order to make sure that they are able to obtain financing for their mortgage at a low rate. Often buyers with poor credit scores will be required to pay a higher interest rate on a mortgage. Here are 6 tips […]

Porting a mortgage basically means to take a mortgage from one property to apply it to another property. Porting a mortgage is very common in Canada. In the real estate porting a mortgage video below, we discuss the different aspects of “Porting a Mortgage in Canada“. Some of the things that you should be […] and our in house mortgage agent, Abraham Niyazi discuss “how to get the lowest mortgage rate in Canada”. Abraham talks about different strategies to save you money when you buy a home in Canada. Buyers can choose to go to one bank and get a mortgage quote. This can involve a credit check done […]

Lot of negative news out there as sales numbers drop but we have seen our share of bad news over this last year, lets hope this one is temporary, as always. Good news rates are down and falling, that should keep things moving, and the summer market is nearing an end. Rates: 1yr 2.44% (-0.10%) […]

The entire real estate industry has been in turmoil for several months now due to the sub prime mortgage meltdown and the credit crunch that followed it. While the National Association of Realtors® said September home sales are up by 5% over the same period last year they also said that the average sales price […]

This Guide Has Moved. Please Update Your Links to the new page: PropertySold Mortgage Guide

You have done your home shopping and have found that perfect dream home. Now it is time to finally apply for a mortgage. Shopping for a home is exciting, but applying for a mortgage can be complicated. It is best to be as educated about the mortgage application process as you can be. Do plenty […]

The Central Bank announced a .25 per cent cut to its overnight lending rate today in reaction to the slowdown in the US economy, with the major banks quickly falling in line. The prime lending rate now stands at 5.75%, and further cuts are expected to follow as the global economy responds to the US […]

The Canadian Press recently published an interesting article called ‘Float or Fix’ – a look at the decision homebuyers face in choosing a fixed or variable mortgage rate. With the recent interest rate hike by the Bank of Canada, and several more called for in the coming two years, the question becomes ever more pertinent. […]


Canada Real Estate News

Real estate news in Canada including buy and sell information, local market updates, guides, tips for Canadians in the real estate market.