New Merix Fixed 5 Year with 90 Day Ratehold
The problems over seas in Europe are already hitting close to home as bond yields have dipped for the last couple of days indicating that investor confidence is shaken. This bodes well for borrowers looking to get into fixed rate mortgages as there may be a reversal to the sharp steady increases to fixed ...
Monday Mortgage Minute May 3rd 2010
Mortgage interest rates continue to climb for the 4th week in a row. There is a lot of discussion between observers and economists who think that the banks are prematurely driving rates up as highlighted in Rob Carrick’s Globe & Mail article, “Are Big Banks Jumping the Gun?”. With each passing week the variable ...
What Is Cmhc Mortgage Insurance Good For?
I have observed recently that both first time home buyers and seasoned owners alike struggle to understand CMHC insurance. From a borrower’s perspective the insurance premium paid up front for the benefit of a mortgage lender seems heavy handed and unfair. However, without CMHC you wouldn’t be able to buy or refinance your homes ...
Toronto Monday Mortgage Minute April 26th 2010
After a very quick increase to fixed rate mortgages over the past 2 weeks mortgage lenders have started to compete for the new fixed 5 year. The standard rate is 4.59% however some lenders have introduced their quickclose rate at 4.39%. The dilemma of deciding to go fixed over variable is on every borrower’s ...
Four Years. Go.
This past weekend the Mortgage Broker (Arnold Molder) took his son (Christopher Molder) to Boston to attend The Global Sufficiency Summit. It was truly an eye opening and unforgettable experience which I will be blogging and talking more about over the coming weeks and months. There is so much that we would like to ...
Monday Mortgage Minute & Interest Rates for April 19th
A combination of positive economic data, the high Canadian dollar and probably the most important factor, the end of RRSP season in mid March when lenders artificially kept rates low to attract business, has caused two increases to fixed rate mortgages over the past 10 days. The difference between current fixed rates (4.59%) and ...