National Post: Fixed or variable? Time to revisit

Written by

There is a new article in the National Post discussing whether home-owners should choose fixed or variable in todays economic environment.

Fixed or variable? Time to revisit

It is interesting to me that over much of the time I have been in this industry, there are always pushes by the banks and media towards fixed rate mortgages, as this article appears to be intended for. The article seems similar in that while they always admit that over the long term, variable rate come out well ahead of fixed rates, the next words out of their mouths are “but that was before, and this is now.” (more…)

The Canadian Credit Bureau Story

Written by

If you have ever taken out a loan, used a credit card or participated in a “buy now, pay later” offer, you will have a credit history. Your credit report contains personal information, credit information, banking information, public records (bankruptcies or credit related judgments against you), collection information, consumer statements and credit report inquiries.

Before 1970 there were about 150 regional credit bureaus that divided up the country, today there are really just 3 major bureaus:

(more…)

Canada’s Mortgage Market is NOT like the U.S.

Written by

As a Mortgage Professional I often field client inquiries about risks facing Canadian real estate and mortgage markets. With all the turmoil taking place across the border and around the world in real estate markets, now is a good time to clarify some of the differences between us and our neighbours south of the border. Below I have condensed and bullet-pointed a recent Economic Research Report released by Scotiabank that explains the many differences well:

(more…)

Mortgages in a Brave New World

Written by

WHY AM I A MORTGAGE BROKER?

I became a mortgage broker to help families take control of their finances, away from the banks and government. Mortgages are the loans with the lowest interest rates available. I help families to finance their beautiful new homes, decrease taxes, increase net worth, improve cash flow, and decrease debt costs.

I have discovered things that are essential for families to understand when living in a country like Canada. And since I would like to help your family, I will share them with you.

(more…)

House prices, sales rise again

Written by

Alan Campbell, Richmond News

It may not yet be time to cork the champagne, but there appears to be light at the end of the Richmond real estate tunnel.

For the second time in a row this year, sales prices and sales volume improved from the previous month. (more…)

Home sales jump in April

Written by

I saw this article today on The Globe and Mail website:

http://www.theglobeandmail.com/servlet/story/RTGAM.20090514.whomesales0514/BNStory/Business/home

It is another article giving a good indication of an upward trend on home sales and prices. Those who have recently purchased or moved up would be looking to be in a much stronger position now. (more…)