It’s one of the clear advantages brokers offer clients hunting for a mortgage, but even that is being threatened by mortgage specialists arguing the hit attached to their credit checks are much lower than those undertaken by brokers. “It’s totally false,” says Ron Butler of Butler Mortgage. “We hear this constantly – the bankers are […]
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Few CMHC Stats
The CMHC’s latest annual survey of mortgage consumers reveals some interesting insights into the habits and thoughts of those we do business with. Sixty per cent of mortgage renewers do so before the scheduled date with most doing so to avoid perceived mortgage rate increases. Almost half of mortgage consumers pay more than their minimum […]
No more mortgage rule changes
The Bank of Canada has made a number of mortgage policy changes – including a number of measures that have drastically impacted mortgage broker business – but the Bank of Canada has said it is done tinkering with programs for now. “We don’t see a need for an immediate shift in policy,” Finance Minister Joe […]
New Article on Collaterall Charges
I read this article today. Yet another story on a potential pitful of these charges. I myself have had a couple clients fall in to this exact story. In what brokers hope is a precedent, media pressure appears to have saved a borrower from the hefty discharge costs associated with a collateral mortgage. “We asked […]
Collateral Charge Mortgages and Visa’s
Some may think that a mortgage and a Visa would not be directly related. One being ‘good debt’ and the other being ‘bad debt’. However, in the banks world they mean the same thing and can come back to harm you in a great way. A collateral charge mortgage have a couple reasons why they’re […]