I was reading through the news yesterday when I came across this article about mortgage penalties that chartered banks are charging their mortgage clients to break their mortgage. This case was a TD mortgage. However, they also mentioned another example in the article that was a CIBC mortgage.
I have written about this and told my clients about it many times before. Have a look at my Mortgage broker vs bank article for more information about this and other issues that can cost you more money by working with a bank instead of a mortgage broker.
The holidays are a happy time for celebrating with family, friends, and co-workers. Unfortunately, this time of year can also be turned sour by a wide variety of clever frauds, unauthorized debit and credit card transactions, and bogus person-to-person scams. By the end of 2015, individuals, retailers, charitable donors, and companies were victimized to the tune of $1.5 billion… and that number is expected to have gone up in 2016. (more…)
If you think back ten years ago, did you find housing overpriced? Looking back, if you did not buy a home then or since, do you wish you had? If you did buy, aren’t you glad you did?
If you look at the market today, do you find housing overpriced? If you put yourself in your shoes 10 years in the future, do you think you would wish you had bought a home today? What do you think is going to change the trend of housing becoming more expensive?
Stop waiting for tomorrow. Get in today. If it’s a home that is less than ideal, it’s still a start towards your dream home. The longer you wait, the more difficult it will be.
If you own a home that is less than ideal, maybe you want to look at making a change. Expensive homes increase in price faster than less expensive homes do, so moving up is advantageous for you.
In order to buy a home, you will probably need a mortgage approval. We often make mortgage approvals happen where others have failed. If you don’t think you can qualify, a 5 minute phone
interview is all it takes for us to have an idea of whether it is possible for you to buy a home. Call us today.
Mortgage rates have been generally going lower over the past few months, and we have this smoking hot deal from one of our lender partners – 2.64% for a 5 year fixed rate! We work hard to get you the best possible deal on your mortgage.
On the Huffington Post website today is an article about the CEO of TD recommending tighter mortgage lending rules be implemented to discourage what he perceives to be high household debt to income ratios.
Household debt to income soared to a record of 164.1 per cent in the third quarter of last year, but fell slightly to 163.2 per cent in the first quarter. That means Canadians owe just over $1.63 for every $1 in disposable income they earn in a year compared with $1.64 at the end of last year.
