Mortgage rates haven't moved much this week, and 2.99% for a 4 year fixed term is still available on owner-occupied properties (including owner occupied rentals if you happen to have a du, tri, or fourplex and live in one of the units). Five year fixed are hovering around 3.29% - 3.49% depending on the lender (and whether or not you want a full service mortgage - so 'no frills' offers are lower), and the variable 5 year is anywhere from 2.60% … [Read more...]
Home Sales Expected to Rise, Real Estate Association Says
Ottawa Citizen The Canadian Real Estate Association has raised its outlook for home sales this year, pointing to an improving economic outlook and strengthening consumer confidence. Sales in 2011 are expected to total 439,900 units, which is still down 1.6 per cent from 2010, the industry group said Tuesday. Its previous forecast was for a nine-per-cent decline this year to 402,500 units. However, it forecasts sales to rise three per … [Read more...]
10 Things to Consider Before Your Mortgage Renews
Click here to view 10 things to consider before your mortgage renews. … [Read more...]
How the Banks Reward You for Renewing Your Mortgage
But I Moved and the Statement Went to the Wrong Address…
This may come across as a little harsh, but I can't tell you how often we hear this when it comes to a client's credit score being 'low' when we are doing a credit report in the process of arranging a mortgage for them. Here is how it usually plays out; we do a credit check and there is a 'mystery' collection or an account that was written-off (rated R9) with a creditor; we ask what the reasoning was and get 'well I told them I was moving and … [Read more...]
