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When you’re looking to buy or refinance your home, you need the research to make sure you are getting the best mortgage. This is true for all Canadians. Wouldn’t it be great if there was one place that compared the rates, features and benefits available in the market today? Rate Showroom to the rescue!!!

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Finding out how much of a mortgage you can afford can help you to find the home that fits your budget.

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Best Mortgage Rates

Updated: July 6th, 2016
Variable5 Years2.35%Bank
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Fixed5 Years2.49%Mortgage Bank
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Fixed2 Years2.24%Mortgage Bank
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Rates are subject to change without notice. All rates are subject to borrower qualification.

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Rates are Low!

What a time to be alive indeed.  And by time to be alive I mean time to be getting a mortgage.  I know what you’re thinking.  “Is it ever a good time for a mortgage?  All they really do is cost me money.”  Well yes they do, but our whole job is to make sure it costs you as little money as possible.  And in the past while rates have … Read More

Agents and Clients

The relationship between a mortgage broker and a real estate agent can be a fruitful one for all parties involved. But like any relationship, it relies heavily on communication and the ability to help one another to in the end get the best results for you, the client! There are several benefits and services a mortgage agent may provide to a real estate agent to help better their relationship; which … Read More

Mortgages and OSFI restrictions

More, scrutiny, more security, more rejections, more more more! Gone are the days of common sense lending and the gray area. Sure tighter restrictions will help to keep the banks safer but at what cost to the general public. By increasing scrutiny (which mind you is fairly tight as is) it will become more difficult for people who may be self employed, have gone through a rough patch, or have … Read More

10% Minimum, Raising the Wrong Bar

If you’ve been in the market for a mortgage in the last couple of months there is almost no chance you haven’t noticed the talk of an increased minimum down payments from 5 to 10% on loan amounts over $500,000.  What this means for you?  Well if you’re buying a house under 500k, nothing, if you’re buying a house over 500k?  Simple, instead of putting a down payment of 5% … Read More

House Flipping Clause in Reverse Mortgage Stops Momentarily till 2014

Though momentary, the flipping regulation that had come to be in the circles of the Federal Housing Administration’s (FHA) rulebook will bear positively, for now, on those seeking to acquire financing for property that is, according to the rule, too tender to avail. The clause has gone under hiatus until the end of 2014 when it will, perforce, come back to life to hinder applicants after homes that have gone … Read More

Mark Carney Suggests Rate Hikes Looming

Bank of Canada Governor Mark Carney said again that the bank may have to raise interest rates to keep inflation on target.  This would mean in increase to variable rate mortgages.  He said it was not necessary to be more explicit about timing of a possible move but said that Canada was “well into an expansion”.  The timing and degree of any increase “will be weighed carefully against domestic and … Read More

CREA Reports March 2012 Sales up From 2011

According to statistics released by CREA – The Canadian Real Estate Association – housing resale activity rose in March 2012 compared to the same month a year ago. The increase stood at 1.6% vs. March 2011, the smallest year-over-year increase since April 2011. It reflects moderate gains in a number of major centres, including Toronto, Calgary, Montreal, Ottawa, and Quebec City. Increases in these housing markets offset larger declines in … Read More

CREA resources for Buyers and Sellers (Part 2)

CREA – The Canadian Real Estate Association – provides a number of different and useful resources to help the public buy or sell a home. A summary of the tips will be provided in a series of two articles. This second part will start with a summary of CREA’s advice for house sellers. Tip 1 – Choose a realtor. Selling a house is not a simple procedure and has the … Read More

CREA Resources for Buyers and Sellers

CREA – The Canadian real Estate Association – provides a number of different and useful resources to help the public buy or sell a home. A summary of the tips will be provided in a series of two articles. This first part will start with a summary of CREA’s advice for house buyers. Tip 1 – Before starting to search for a house: Consider what features do you need (number … Read More

Releasing the Equity in Your Home

If you’re one of the many homeowners who has a mortgage free or low mortgage home, then you can unlock a small fortune.  Although many homeowners look forward to the day when they can burn their mortgage, the fact is we will all will  release the equity in our homes as some point.  Whether it’s an inheritance to your loved ones, supplementing your income, providing  for some adventure or bailing … Read More