The Bank of Canada must soon decide whether or not to increase interest rates. It is the Canadian Housing Market, the American Dollar and the American Consumer, that will have great influence over this decision in 2010.
This decision will not be easy. We are wedged between a sizzling housing market, being driven by our extremely low borrowing rates on one side and a badly beaten USD, which is affecting our exports to the US. Continue reading →
Everyone knows the old saying about making assumptions. “When you assume you make an…”you get it. There is one instance where assumptions are the right thing to do – when it comes to your mortgage. The purchase of a new home can be quite costly and usually entails some form of financing to make the purchase a possibility. More often than not a potential buyer takes out a mortgage for the purchase. Our experienced brokers will help you with this alternative to the traditional mortgage: an assumable mortgage.
We value your business, we know you have a world of options and we are happy you are working with us. We commit to you that we will do everything in our powers to ensure that this process goes smoothly for you. Lower mortgage rates are just the beginning with us. We know you will find that our commitment to sound, unbiased mortgage advice and excellent service are unparalleled. Continue reading →
Canadians looking to refinance their existing mortgage or purchase a new home within the next 6 months should obtain a 1 year Fixed Rate Mortgage. This will allow the well informed consumer to lock into a Variable Rate Mortgage (VRM) with a more favorable interest rate in the next 12 to 18 months. It is our belief that the premium currently being charged on these VRM’s will disappear.
Like any financial product VRM’s are priced by the market. We strongly believe that VRM’s will decrease in price to consumers over the next 12 to 18 months. This decrease will be a result of an increase in mortgage lender demand for VRM’s and a decrease in the cost associated with those lenders holding VRM’s.
We will go on to explain why this has happened, what we expect will happen in the future and how the Canadian mortgage consumer will be able to benefit from a 6 year strategy. Continue reading →
