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Mortgage Rates are still trending Lower… Yes, in August!

Its Christmas! Home Sweet Home. Home Improvement And Time. Enjoy

A couple years ago, the federal government brought in some tighter mortgage qualifying rules. The ‘stress test’ was just one of several changes, but it’s definitely the most well known.

The feds wanted to slow the housing market. They also wanted to ensure that borrowers could afford the much anticipated mortgage rate hikes. Rates have to go up some time, right?! When?!

Continue reading “Mortgage Rates are still trending Lower… Yes, in August!”

A Rate War on Canada Day?

Happy Canada Day Poster. 1st July. Illustration Greeting Card Wi

I’ve never seen more competition with mortgage rates in my 30-year career than I have in the first five months of 2019!

Rates are under 3%!

On May 10th, a new jobs report was released by the federal government showing 106,000 new jobs created in the month of April. This blew away all expectations. And, the reaction was immediate, including higher mortgages being imminent and a bull stock market on the horizon… and yet, this didn’t happen. Continue reading “A Rate War on Canada Day?”

50+ with little or no Mortgage? You Need a Line of Credit!

Blog Image, Line of Credit, May 2019

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money.

The line of credit popularity that took place in the ’90s wasn’t a bad thing. It allowed us to borrow at low rates to invest or spend as needed. Many successful investors have been doing this for decades. Borrowing to invest makes smart financial success. Don’t let anyone tell you differently.

We’re seeing more reasons for Canadians to get a secured line of credit now: Age; Income; and Qualification.

Continue reading “50+ with little or no Mortgage? You Need a Line of Credit!”

Finance Your New Construction Home at Prime Minus 0.80%!

Blog Image, New Construction, May 2019

Before I get into the topic of new home financing, I want to share some positive news! The Ontario housing market is definitely alive and well! I’m seeing new properties come to market and disappear within weeks or even days. Multiple offers are also a reality, once again. Watch for encouraging sales stats to be reported next month.

Buying a resale home

Buying resale is great because you can see what you’re getting and you can have it now (average closing is 45 to 90 days). You can also set and hold your mortgage rate now.

But, there are also some negatives to buying a resale. For one, you’ll never get 100% of what you want. Maybe the kitchen, master bedroom or backyard could be bigger or perhaps you’d prefer a different floorplan. The truth is, you’re buying someone else’s home that wasn’t designed for you.

But, hey, that’s life and you can’t have everything you want. At least, not yet… or maybe you can?

Construction financing as low as prime minus 0.80% – 3.15% today!

Continue reading “Finance Your New Construction Home at Prime Minus 0.80%!”

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