It’s certainly not what the Bank of Canada (BoC) is claiming!
The BoC recently released a document detailing what it believes to be a positive report on the Canadian Mortgage Market, but this article clearly shows how out of touch our government is.
The BoC is applauding their statistics… yet, these numbers show that the government appears to be measuring affordability as a multiple of one’s income – and not by the proven, standard method of debt servicing ratios. This is very odd and, quite frankly, I find it absurd.
Continue reading “What’s the TRUE Impact of Policy Changes on the Canadian Mortgage Market?”
The BIG SIX BANKS have been caught. For those who still think the banker is your friend and is only looking out for your best interests, guess again. They’re in the business of selling and making money. The FCAC has finally reported what Financial Experts have known for years!
This report was recently released… but I wonder how soon it will be forgotten? And how much media attention will this important story really get?
Don’t forget, the BIG SIX BANKS are among the Top 10 Largest and most profitable corporations in Canada. They spend billions in marketing each year. That sort of advertising budget can make us forget about these types of announcements.
Continue reading “BIG SIX BANKS exposed and called out by Financial Consumer Agency of Canada!”
I’m honoured to be named a finalist for Marketing Campaign of the Year at the inaugural Mortgage Awards of Excellence 2018 for this news site!
Thank you to my amazing clients and loyal readers!
Winners will be announced live during the awards on May 3, 2018. Regardless of the outcome, I’m thrilled to be named a finalist for something I truly enjoy doing
This site continues to evolve because you want to learn more about the mortgage industry, and you have trusted me to offer facts and my true opinions since I started this site in 2009.
I enjoy helping educate Canadians on the value of using a mortgage broker when making among the largest purchases of your lifetime – buying real estate!
Continue reading “Mortgage Awards of Excellence Marketing Campaign of the Year Finalist!”
I’m often asked why I started this site. It’s simple: I was tired of reading misinformation and twisted truths about mortgage brokering in Canada.
Back in 2009 when I created the site, there were some new blogs reporting on mortgage trends and offering ‘expert’ advice. (I use the term ‘expert’ loosely.) In reality, these sites were full of misinformation. The information was even damaging to the mortgage brokering landscape, in many cases… yet, they were being quoted by our largest newspapers and TV news channels. Wow! How can the major newspapers print this stuff?? It made me angry.
At the same time, there were rate shopping sites being launched. You know the ones… they compare bank, credit union and mortgage broker rates. These sites promised to compare rates, with no strings attached and tell you which provider has the lowest rate. They were supposed to be totally unbiased. They were supposed to be market neutral. Hey, don’t get me wrong, everyone loves to compare, shop and save, right? Comparing is part of being a smart consumer… but there is this huge problem… These sites are NOT unbiased or neutral. These sites are NOT run or owned by independent people.
You would expect a product review site to be neutral and unbiased, right? I mean, it just makes sense. If I want to compare hotels or vacation destinations, I’ll go to a site like TripAdvisor or Booking.com. We can clearly view the best available price and past customer experiences. We wouldn’t expect TripAdvisor or Booking.com to own the hotels or airlines they were advertising. That would be a conflict of interest.
Continue reading “Why I started this site… 400+ articles later”