The Mortgage Radar: Delights from Deloitte, Financial Consumer Agency of Canada, Owning a Home the Numbers

November 1, 2010

Last week Deloitte, a major international accounting and consulting firm, released a very flattering report regarding Canadian mortgage brokers and their importance to Canadian borrowers. The Wallstreet Journal article highlights why mortgage brokers are important to the mortgage market place. I couldn’t agree more or be prouder.
Do you know what FCAC stands for? No it is not an acronym for an obscure European Football Club but rather an independent Canadian agency dedicated to informing and protecting consumers of financial services – such as mortgages.  It seems that recently they have been given some funds for advertising and PR because in the last week I have heard of them on CBC news and even on the TTC. I applaud the availability of unbiased information & publications. I hope that the banks don’t get the agency in their back pocket.
As a follow up to my post from last week where I included several links and opinions regarding rent vs. owning I found another good article from the Toronto Star “Why You Should Buy Your Home.” There is an age old debate among financial gurus regarding whether buying a home is really a good investment or not? It is my opinion as of late that while home ownership is of high priority it isn’t necessarily “the best” place to invest your money for the long term. However the study in this article suggests otherwise. If you have the time you can see how hotly contested this debate is by skimming through the comments.
That’s it for the Mortage Radar this week. The Mortgage Radar includes news and blog articles that have come across my desk in the past 7 days that I think are of interest or provide entertainment value. Feel free to comment on the links below or call me regarding any mortgage financing needs you may have. 416.461.0204ext2


Christopher Molder

Mortgage Broker

Christopher is a mortgage broker based in Toronto, Canada. And a son of a broker too. He’s a second generation mortgage broker. Following in his father’s steps he joined the family mortgage business straight out of university.