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Posted January 9, 2014 Mortgage News

New threat of Rate hikes… it’s called Finance Minister Flaherty.

The Federal govt of Canada and the Bank of Canada are supposed to operate independently. The Minister of Finance gives the Bank of Canada its objectives or its mandate. And the Bank of Canada is supposed to carry out that mandate. The dotted line is supposed to allow the Bank of Canada Governor to exercise his/her powers without fear of political influence.

THE COMMENT

But our current Finance Minister, Mr. Flaherty, doesn’t seem to like those rules. He has repeatedly opened his mouth at inopportune times. Take last year, for example, when he publicly criticized Manulife Bank and BMO for advertising a 2.99% 5 yr fixed rate. He actually asked them to pull those ads! Not that they were the lowest 5 yr fixed rates at the time, but they were the lowest advertised rates by a major BANK. (as my regular readers know, mortgage brokers had lower rates… as they usually do). Continue reading “New threat of Rate hikes… it’s called Finance Minister Flaherty.”

Posted January 6, 2014 Consumer Debt

How to get rid of Holiday bills and start building wealth.

Most Canadians suffer with their highest personal debt load in January, when the “holiday hit” arrives and your credit card statements let you know just how much you spent on the festive season. It’s especially hard if you already had a burgeoning debt load before the holidays.

This year, make the best New Year’s resolution ever: resolve to clear that debt, and start building wealth. Continue reading “How to get rid of Holiday bills and start building wealth.”

Posted December 24, 2013 Uncategorized

Happy Holidays! We are taking some time off.

I want to extend my warmest wishes for a safe and Happy Holiday Season to you, your family and loved ones. Remember those in need during this festive season. May all your dreams become reality in 2014. Happy Holidays! Merry Christmas! and Happy New Year! We’ll be back in January!

Your best interest is my only interest.

As always, I welcome your comments, calls and questions.

Steve Garganis 416 224 0114 steve@mortgagenow.ca

Posted December 19, 20132 Comments Mortgage News

Winter Home maintenance tips

They say Christmas can be one of the most stressful times of year. Well, your house couldn’t agree more. With snow on the ground since November, it looks like we are in for long hard winter.

Your house is an important investment that you want to keep in tip top shape, especially if you are planning to be there for the foreseeable future. It’s also your home, which means regular maintenance is necessary to ensure your family’s safety and ongoing enjoyment.

CMHC (Canada Mortgage and Housing Corporation) has compiled this general maintenance checklist to help you keep your home in top shape: Continue reading “Winter Home maintenance tips”

Posted December 17, 2013 Money saving tips

Top 10 Mortgage Tips for 2014

A peek at the year ahead: Our Top Ten Mortgage Tips for 2014!

Your home may be the biggest investment you’ll ever make. That means you want to be smart with your mortgage. Although we can’t say for sure what mortgage rates will do – or how the housing market will shift – we have compiled our top tips for the year ahead; sensible strategies for today’s homebuyers and owners.

1. Variables are back. Several lenders are offering strong “prime minus” rates that could save you thousands in interest. And the Bank of Canada is still holding their key “overnight rate” very steady and very low… making variable-rate mortgages a sensible option right now. Fixed versus variable has always been a challenging mortgage decision. Let us help you decide which financing option best meets your needs.

2. Don’t sleepwalk through your mortgage renewal. Don’t miss out on an opportunity to save thousands on your mortgage. When your lender sends you a letter saying it’s time to renew… then it’s time to get an expert second opinion. We’re independent and we have access to over 50 lenders. If there’s a better deal, we’ll find it.

3. Pay your phone bill on time!Paying your bills on time has always been the most important credit habit. Equifax recently started to include phone companies on credit bureau reports – so your lender can see if you have any delinquencies with your phone bills. Look like a good borrower.