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Category Archives: Mortgage Strategies
Changes in our Economic Landscape: What Does It Mean For You?
Inflation and rapidly rising interest rates have cooled off the real estate market. Supply and demand has shifted. You’ve probably noticed more “for sale” signs in your neighbourhood. I know I have. That means the inventory of homes for sale … Continue reading
Creative Thinking in Mortgage Lending
Mortgage professionals agree, one way to solve the crisis of affordability for new home buyers is to change the amortization allowance on insured mortgages from the current 25-year limit to 30 years. Longer amortization periods are nothing new. The concept … Continue reading
Heads Up! Interest Rate Hike Expectations Are Growing
Canadian Mortgage Trends recently reported, “With inflation well above the Bank of Canada’s target level and ongoing supply chain issues, expectations of earlier-than-expected interest rate hikes in 2022 are growing. For much of the past year, the Bank of Canada … Continue reading
Posted in General, Mortgage Strategies, Running for Rachael
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THINKING About Buying a Home? Get Organized First!
The moment you start thinking about buying a home is the moment to start thinking about where your down-payment will come from. Moving all your sources of money for a down-payment into a single “staging” bank account will help. This … Continue reading
Did You Know: PRE-Approval Does Not Guarantee a Mortgage Approval?
In this scorching hot sellers housing market, it’s important to know that a pre-approved mortgage does not automatically become an approved mortgage when you submit an Offer to Purchase. In the past, buyers included a “conditional on financing” clause – … Continue reading
The Good, the Bad, and the Awesome in Mortgage News…
The Good: It’s hard to believe that anything good could come out of the COVID-19 pandemic – and yet – a new analysis by rate comparison site Finder has found that Canadians saved approximately five times more of their disposable … Continue reading
Posted in First Time Home Buyer, General, Mortgage Rates, Mortgage Strategies
Tagged mortgage financing, Tracy Irwin
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Another Reason to Use a Mortgage Broker (Like Me)
This month, I’m featuring excerpts of an article written by Juliette Baxter and published in The Financial Post. The article provides valuable insight into the tightening of lending rules that came into effect on July 1 – and what it … Continue reading
Essential Mortgage News: Short Term Gain = Some Long Term Pain
There’s Good News and Not-So Good News About Your Mortgage During COVID-19 If you’ve opted for mortgage deferral assistance to free up some money, you’ll gain in the short term. The Canadian Bankers Association has reported that more than 90% … Continue reading
Posted in General, Mortgage Strategies
Tagged COVID mortgage, mortgage deferral assistance, mortgage payments
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What You Need to Know About Your Mortgage During COVID-19
Mortgage Renewals: Resources & Repercussions Lenders will always offer mortgage renewal terms as long as you have not had a late payment on your mortgage during your term. If you have contacted your lender and requested a mortgage payment deferral, … Continue reading
Posted in General, Mortgage Strategies
Tagged mortgage COVID-19, skip mortgage payment
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