Mortgage Bytes

  • rates The Chronicle Herald says, “with no interest rate hikes on the horizon, there’s no reason to move over to a fixed-rate mortgage if you already have a variable rate mortgage.”
  • 28% of Canadians expect to carry a mortgage into retirement (Investors Group Study).
  • Ameriquest Mortgage commercials are somewhat creative.
  • “You need to hold real estate over long periods of time to ensure good returns. Holding for a year or two is always a gamble.” – RE/MAX Condos Plus
  • CIBC’s Benjamin Tal says banks are outpacing non-bank lenders in mortgage growth for the first time in years.  That’s largely because banks are getting more competitive on 5-year rates.
  • Mortgage Product Tip:  Xceed Mortgage let’s you purchase a 2nd home using stated income with no NOA’s required. You may only need 5% down if you’re credit score is 680+. Seasonal properties or cottages are not allowed.
  • FSCO has published these FAQs about it’s new Ontario mortgage broker regulations.
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Majority of Canadian Buyers Borrowing Their Maximum Approved Mortgage
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