Category Archives: Mortgage Strategies

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

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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

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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

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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

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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

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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

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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

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Does Size Really Matter?

The January 12 announcement of the acquisition of Mortgage Architects by DLC Group of Companies – which includes The Mortgage Centre – prompts the question, “will this acquisition really make a difference for consumers looking to finance, renew or refinance … Continue reading

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Six Things You Never Knew About Tracy Irwin, Mortgage Broker

Happy New Year! May your 2016 be filled with abundance, joy and the fulfillment of all your hard work! “Write it on your heart that every day is the best day in the year.” ~ Ralph Waldo Emerson Six Things … Continue reading

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Suite Income: New CMHC Rule Allows 100% of Rental Income for Mortgage Qualification

September 28, 2015 is the date that Canada Mortgage and Housing Corporation (CMHC) will start allowing 100% of rental incomes from legal secondary suites to be used when qualifying for a mortgage.  Currently CMHC allows 50%. The move is meant … Continue reading

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