30 Nov

New Mortgage Rules Effective January 1, 2018

Latest News

Posted by: Amrit Bains

Are you aware of the new mortgage rules effective January 1, 2018? Do you anticipate needing to refinance, consolidate debt, or use your home equity towards future expenses such as a home renovation project, or investment, or would you like to have some cash put aside for a rainy day? If the answer is YES, then […]

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8 May

Fixed Rate or Variable Rate

General

Posted by: Amrit Bains

Fixed Rate or Variable Rate  The decision to choose a fixed or variable rate is not always an easy one. It should depend on your tolerance for risk as well as your ability to withstand increases in mortgage payments. You can sometimes expect a financial reward for going with the variable rate, although the precise […]

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28 Apr

CMHC tightens mortgage insurance rules as housing market cools

General

Posted by: Amrit Bains

CMHC is moving yet again to tighten the home mortgage market with changes that would make it more difficult for certain Canadians to obtain government-secured financing for real estate purchases. The Canadian Mortgage and Housing Corporation says that as of May 30 it will no longer insure purchases by self-employed workers without third party income […]

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25 Apr

Should you get pre-approved for a mortgage? Ten things to know

General

Posted by: Amrit Bains

Putting your full faith in a mortgage pre-approval is like betting on a heavy favorite in a horse race. You’ll probably win but there’s room for major disappointment. Sure, pre-approvals have benefits. The best ones accurately measure your qualifications and how much house you can afford. Their 90- to 120-day rate guarantees protect you if […]

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23 Apr

Housing market ‘extremely discouraging’ for first-time buyers

General

Posted by: Amrit Bains

Many experts believed that the real estate market was cooling. But as the spring buying season begins, it’s clear that’s not true. According to the Canadian Real Estate Association, the national average price for a home in March was $401,419, an increase of six per cent in year-over-year comparisons. While the market defies predictions, one […]

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22 Apr

BMO’S 2.99% Mortgage Product

General

Posted by: Amrit Bains

It looks like BMO is restarting some rate wars out there…however it is important to remind you that this rate offer may NOT give you all the bells and whistles of a regular mortgage product that some other mortgage lenders offer! Unfortunately for those who buy into it, BMO’s Low-Rate Mortgage is a product that […]

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