Author Archives: tracyirwin

Mortgage News: Trick or Treat?

There’s been so much news affecting mortgage lending, home equity and ownership in the last few weeks, it’s hard to decide what to share first! Here’s a blog chock-full of “must reads” to spice up your day – and your … Continue reading

Posted in General, Mortgage Strategies | Tagged , , , , , , , , | Leave a comment

Mortgage News: Be Wise or Beware!

Five Easy-to-Avoid Pitfalls When Buying a Home With nearly 700,000 homes purchased in Canada each year, there’s no shortage of stories about the unanticipated pitfalls that can present themselves for home buyers. Doing your research, planning ahead, not rushing through … Continue reading

Posted in Mortgage Strategies | Tagged , , , , , | Leave a comment

Hello? Is Anyone Listening to Home Owners?

Voice Your Concerns with “Tell Your MP” As consumers, we often feel that our voices are not heard.  It has been more than six months since federal Finance Minister Bill Morneau announced significant new rules for mortgage insurance and eligibility … Continue reading

Posted in General, Mortgage Strategies | Tagged , , , , , | Leave a comment

How Your Credit Score Affects Your Mortgage Rate

When the Office of the Superintendent of Financial Institutions (OSFI) increased capital requirements on default insurers – and linked its capital formula to credit scores* – many securitizing lenders have opted to do two things: Thing One:  set different rates … Continue reading

Posted in General, Mortgage Rates, Mortgage Strategies | Tagged , , , , | Leave a comment

Is Home Ownership Still Within Reach?

New Mortgage Rules? Last week, we saw the beginning of the hearings in Ottawa on the new mortgage rules. The Mortgage Centre worked long and hard on a written submission to the Standing Committee on Finance and Tracy wants to … Continue reading

Posted in First Time Home Buyer, General, Mortgage Strategies | Tagged , , , , | Leave a comment

Ontario Helping First-Time Homebuyers!

Doubling the Rebate on Land-Transfer Tax Ontario is doubling the rebate on the land-transfer tax for first-time homebuyers to $4,000, but is increasing the same tax on homes that sell for over $2 million. The government says half of first-time … Continue reading

Posted in First Time Home Buyer, General, Mortgage Strategies | Tagged , , , , , | Leave a comment

Will You Pass the Mortgage Rate Stress Test?

A doctor may prescribe a stress test to safeguard your health by monitoring breathing, blood pressure and heart rhythm. The Department of Finance is prescribing one to protect the financial security of Canadians and support the long-term stability of the … Continue reading

Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies | Tagged , , , , , , | Leave a comment

Banks Feel the Heat from Regulated Lenders!

The Globe and Mail Got it Wrong! Three weeks ago, while we were all enjoying the hot and humid days of summer, The Globe and Mail reported that “unregulated lenders” now own a 15% share of Canada’s mortgage market, according … Continue reading

Posted in General | Tagged , , , , | Leave a comment

The Next Generation of Homebuyers

2016 Spring Consumer Report by Mortgage Professionals Canada Twice a year, Mortgage Professionals Canada releases survey results on the state of the residential mortgage market in Canada. This time around, the focus was on The Next Generation of Homebuyers. The report … Continue reading

Posted in First Time Home Buyer, General | Tagged , , , , | Leave a comment

The 5 Most Important Questions to Ask When Applying for a Mortgage

Whether you’re buying your first or fifth home – feel like a rookie or mortgage master, today’s fast-paced real estate market coupled with low interest rates have many thinking, “what have we got to lose?” The answer is a lot! … Continue reading

Posted in General, Mortgage Strategies | Tagged , , , , , | Leave a comment