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Is Common-Sense Lending Making a Comeback?!

Blog Image, Total Net Worth Program, March 2019

I’d like to think the Total Net Worth Program reintroduced by a lender recently is an indication of what’s to come!

I’m excited about this program. It allows borrowers with good net worth to gain access to money. This is old-school lending – nothing new – but it’s a comeback worth celebrating!

Continue reading “Is Common-Sense Lending Making a Comeback?!”

Mortgage Rates have Dropped and Will Fall Further

Mortgage shopping

Rate forecasting isn’t rocket science – it’s more common sense than you think! But, it requires a clear mind to make sense of all the rubbish that’s being published these days.

I’ve been forecasting for a while now that interest rates would start to come back down this year. Currently, interest rates are down by around 0.4% and will come down further.

WHY ARE RATES FALLING?  Continue reading “Mortgage Rates have Dropped and Will Fall Further”

Mortgage growth has slowed… so why are BANKS winning & CONSUMERS losing?

Blog Image, Feb 12, 2018

I reviewed some recent stats that explain how overall mortgage growth has fallen to its lowest level in the past 17 years!

Overall, mortgages outstanding across Canada total more than $1.5 trillion. And, while this total continues to increase year over year, the rate of growth has decreased. We should pay attention to this!

Typically, when we experience lower mortgage growth or no growth at all, house prices will follow suit and come down.

But, why aren’t the banks up in arms over this given that they make huge profits by lending money? (More on this below.)

Continue reading “Mortgage growth has slowed… so why are BANKS winning & CONSUMERS losing?”

Buying a home is cheaper than renting. Don’t be intimidated!

Buy Or Rent?

Could 2018 be the year where the pessimists finally get their way? I hate to admit it, but this could be the year where buying a home may not be a good idea.

OK, just kidding!!!

But after years of seeing countless articles and posts about rising interest rates, housing affordability issues, mortgage stress tests disqualifying some people from being able to buy, higher personal debt levels, NAFTA economic fears and Donald Trump (ok, Trump has nothing to do with this, but you can’t write an article these days without blaming him, right?!), does it still make sense to buy a home?

Yes! There is positive news. You can still buy a home. And you can still qualify for a mortgage.

Continue reading “Buying a home is cheaper than renting. Don’t be intimidated!”

Six Months was What it Took to Absorb Latest Mortgage Changes!

Blog Image, Adjust to Change, August 2018

Ever since the US 2008 sub-prime mortgage crisis, we’ve seen a never-ending string of change. Mortgage lending rules have become tougher and tighter. Underwriting is stricter and more thorough. (As usual, the government has not missed an opportunity to stick their nose into your business by making lenders ask for more income documentation.)

The rule of change is that it takes around six months for consumers to adjust.
Continue reading “Six Months was What it Took to Absorb Latest Mortgage Changes!”

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