B-21. Here at Last There’s been so much speculation on whether OSFI’s long-awaited B-21 mortgage insurer guidelines will slow the housing market. Well, now that we’ve seen the draft, that seems unlikely. In fact, B-21 is simple, practical and sound policy, and most of the guidelines have already been adopted by lenders and insurers. Here’s […]
Why It's Important to Talk to A Mortgage Broker
Mortgage changes in 2014 budget
Some changes came down within the budget this week. Here’s the good and bad. One thing I like to note is the collateral charge disclosure. I can’t stress enough how this style of mortgage is not in 95%+ of peoples interest. And you see that even the DoF has concerns with the lack of disclosure […]
More on penalty calculations at the big banks
Credit for this article goes to http://www.robertkleinmortgagegroup.com and when I read it I had to share as it’s in such detail and well written. I recently had a client pay a $13,000 break fee on a 2 year old mortgage from RBC. As you can imagine the client was not impressed. By factoring in an […]
TD mortgage clause change
This is important to know, or at least for the person you are trusting to get you a mortgage should know. Another reason to use an independent broker as we will move clear of little rules like this benefiting the lender making sure the product benefits you. Lending is evolving a lot these days. Deals […]
Do early mortgage renewals save or cost you money?
As shown in the Globe and Mail This is a good article in regards to renewals and doing them early or not. With me I will do a comprehensive look at your mortgage and where the market is 4 months prior to the renewal date. Many mortgage lenders want you to believe that rate certainty […]