Gifted Down Payment
Mortgages are very dynamic transactions. There are areas of the mortgage approval that don’t warrant any kind of special consideration but if for whatever reason the lender’s guidelines cannot be satisfied one can compromise the successful funding of a mortgage. Proof of down payment is one of those areas. Generally speaking proof of down ...
Monday Mortgage Minute- Toronto June 21st
It looks like the fixed mortgage rate market has stabilized after the bank of Canada’s decision to increase the prime rate earlier this month. While rates aren’t as low as earlier this year, mortgage interest rates still remain low historically speaking. With signs that the housing market is cooling and interest rates are staying ...
Monday Mortgage Minute June 14th- Interest Rates
World Cup fever is on in Toronto and mortgage interest rates are remaining low and stable. While a variable rate mortgage may not fit everyone’s needs it remains a good option in today’s market. Give me a call to discuss whether it is right for you? Chris Molder – Son Of A Broker 416.461.0204 ...
Monday Mortgage Minute June 7th 2010
Following the Bank of Canada’s interest rate announcement last Tuesday we weren’t too sure in which direction the fixed rate market would move. Mortgage lenders responded by lowering their fixed rate mortgage rates. They also increased the spread on the 5 year variable rate mortgage from P-0.50 to P-.60 giving an effective rate of ...
Bank of Canada Prime Rate Increase
The Bank of Canada today announced that it is raising the prime rate by one-quarter of a percent. Canada’s economy is growing faster than expected along with inflation. But uncertainty about Europe’s debt crisis will affect how quickly interest rates can rise. Click here to read the full Press Release. If you are curious ...
Monday Mortgage Minute – May 31st
Toronto mortgage interest rates haven’t changed over the past 7 days. However tomorrow morning after the Bank of Canada makes their decision regarding the prime rate we could see some interesting movement in the fixed rate mortgage market. Stay tuned for more. Chris Molder – Son Of A Broker 2.85% – 1 Year Fixed ...