When your mortgage application goes through the approval process, they are not only looking at you, but also the property in question. In fact, sometimes when an application is denied it has nothing to do with you, and everything to do with the property. To improve your chances of success when it comes to financing, […]
General Information
Why Are Interest Rates Rising?
Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank of Canada rate cut on March […]
Finally decided to make it official!
I’ve been doing mortgages for many years and have had the name MarStel Mortgage Planning for many as well. I’ve always used the brokerage where I hang my license’s name. Today it’s official, I’ve re-branded! It’s simple and easy, the way I like things! Hope you like it!
New Benchmark Rate For Qualifying Insured Mortgages
The new qualifying rate will be the mortgage contract rate or a newly created benchmark very close to it plus 200 basis points, in either case. The News Release from the Department of Finance Canada states, “the Government of Canada has introduced measures to help more Canadians achieve their housing needs while also taking measured […]
Weak New Listings Slow Canadian Home Sales as Prices Continue to Rise
Statistics released today by the Canadian Real Estate Association (CREA) show that national existing-home sales dipped between November and December owing to a dearth of new listings, especially in the GTA. National home sales edged down 0.9% in the final month of 2019, ending a streak of monthly gains that began last March. Activity is […]