If you’re thinking of going with a traditional bank for your home loan, I have some surprising news I think you’ll want to know before you decide.
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If you’re thinking of going with a traditional bank for your home loan, I have some surprising news I think you’ll want to know before you decide.
The Prime Rate in Canada just increased, you are wondering what this means for your mortgage, we think it’s time for an analogy.
The market now believes that the likelihood of a rate hike on July 12th is 22%, down from 35% before the inflation numbers were released last week. In these newsletters we try to predict what the Bank of Canada (BoC) will do and how it will affect your mortgage. Over the past 14 years we have been incredibly successful at guiding Canadians with our sound, unbiased advice. We base our advice on the economic indicators we feel are most relevant to the Bank of Canada’s upcoming actions and on what the Bank of Canada tells us in their press releases and meetings.
According to the Bank of Canada, home buyers who work with a broker save more money than those who work directly with a bank.
And when you think about it, brokerages like MorCan Direct are much more likely to help you – here’s why:
No matter what stage you’re at of the home loan research process, all of your efforts can likely boil down to one simple question:
“How can I get the best possible rate for my mortgage?”
The answer may surprise you.
Refinancing, purchasing a new home, or even just renewing your existing mortgage?
You wouldn’t think that banks could make money off of something intangible like “worry” – but they can.
Stay with me here, because I’ll prove it to you.
Yesterday the incredibly popular Premiere of Ontario (her approval rating is sub 20%), held a press conference. The purpose was not to discuss how dangerous a desperate politician is. It was to show what types of policies a desperate politician can come up with in a pinch. Fresh off of helping her predecessor cover up a Gas plant debacle that cost each and every person who lives in Ontario in excess of $1,500, she has decided to affect meaningful change in the housing market.
Let’s start off with the three policy changes that will have the greatest impact.
We’ve been advising our clients to take a variable rate mortgage essentially since the 2007 downturn. Today our message is the same.
There are new mortgage rules that you probably have not heard about yet.
