Category Archives: Articles

2012 Federal Budget Silent on Mortgage Rules

Despite expectations from different sectors that the government will step in to tighten the mortgage rules driving the lending and housing markets, there was no mention of mortgage reforms in the budget. On this subject Canada’s Minister of Finance, Jim Flaherty, told reporters he would like the market to “correct itself”. The government did, however, promise to introduce legislation that would increase oversight of the Canada Mortgage and Housing Corporation … Read More

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Annual State of the Residential Mortgage Market – CAAMP Part 3

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and mortgage markets A synopsis of this report is being presented in a series of three … Read More

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Annual State of the Residential Mortgage Market in Canada – CAAMP (Part 2)

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and Mortgage markets A synopsis of this report is being presented in a series of three … Read More

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Annual State of the Residential Mortgage Market in Canada – CAAMP (Part 1)

The Canadian Association of Accredited Mortgage Professionals (CAAMP) in its most recent annual report of the Residential Mortgage market in Canada (Nov 2011) provided an interesting outlook on three different topics: Consumer opinions on several issues related to housing and mortgages Consumer choices in the mortgage market and satisfaction level Outlook for the housing and Mortgage markets The synopsis of this report will be presented in a series of three … Read More

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2012 Emerging Trends in Canadian Real Estate

Price Waterhouse-Coopers has published their 2012 Emerging Trends in Real Estate report. The study reflects the views of 950 individuals who completed surveys or were interviewed. The sample represents investors, land developers, real estate firms, investment management institutions, banks and securitized lenders. The report begins by stating how Canadian real estate markets remain the most stable in North America and cites the following reasons: Institutions hold on to the best … Read More

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The Top 3 Benefits of Using a Mortgage Broker

The mortgage brokerage industry has grown by leaps and bounds over the past decade.  The only reason any industry can grow that quickly is because it’s adding value to consumers.  20 years ago mortgage brokers were relegated to helping consumers that couldn’t find a mortgage for themselves, but mortgage brokers began finding a new niche; finding better mortgages for all homeowners.  Here are the top 3 reasons a mortgage broker … Read More

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Banks Profit on Ottawa’s Encouragement

The Federal government has tightened mortgage rules twice over the past 36 months and is still looking to reduce the amount of Canadian mortgage debt.  The problem is that the mortgage market is well controlled and any further tightening runs the risk of stalling an already fragile economy.  Rather than taking on the responsibility of further tightening, Ottawa has been encouraging the big banks to a) increase mortgage interest rates … Read More

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The Self-Employed are Sacrificed by the Federal Government

As CMHC approaches it’s federally imposed insurance limit of $600 Billion, industry professionals anxiously await the government’s next move.  In a normal environment we would expect the limit to be raised to accommodate for growth and inflation, but this is no normal environment.  The Feds are rightfully focusing on Canadian debt reduction, but wrongfully only addressing mortgage debt.  With this mortgage reduction focus, the government has held off making any … Read More

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What’s Your Home Worth?

Does your property tax assessor think you live in a mansion while your banker thinks you live in a hut? The appraised value is an important factor in determining mortgage amounts. Property valuations often seem arbitrary and different professionals can come up with different values. A great example of different opinions is that a seller often thinks their home is worth more than a potential buyer. The true value of … Read More

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5 Tips on Shopping for Your Next Mortgage

You’ve spent weeks looking at homes; making lists of must haves and nice to haves; researching values, and negotiating the price. Finally, you find your new home! Now, all you need to do is call your current mortgage company and they’ll take care of the mortgage. Hold it! Don’t forget that mortgage lenders will always look out for themselves first. They are selling a product and are eager to earn … Read More

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