Get a Better Rate: Five Questions to Ask Your Broker

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Mortgage News, Mortgage Term, Mortgage Types, Refinancing my Property, Residential Mortgages

Mortgage brokers are expected to be honest when it comes to providing their customers with financial advice. It’s their job, after all, to find you the best possible rate based on your unique financial situation. But, as with any other position of authority, there are always a few bad apples in the bunch. If you’re shopping for a mortgage rate, … Read More

Why a Bank Mortgage Might Not Make Cents

EditorAbout Mortgage Brokers, FamilyLending.ca, First Time Home Owner, General Interest, Mortgage Term, Mortgage Types, Refinancing my Property, Residential Mortgages

It’s no secret that the banking industry operates in a regulatory environment. Bankers and advisors are required to adhere to strict rules and restrictions… except when it comes to mortgages. According to Samantha Gale, a former mortgage regulator with B.C.’s Financial Institutions Commission and chief executive officier of the Mortgage Brokers Association of British Columbia, individual bank mortgage reps, unlike … Read More

Listing This Spring? Sounds Like You Could Use a CMA

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Housing Costs, Investment Property, Residential Mortgages

Thinking about listing your property this spring? Then now’s the time to request a comparative market analysis¬†(CMA) from your real estate agent. A CMA is an evaluation of listings and sale prices of similar houses in your neighbourhood. Similar to an appraisal in that it provides sellers with an estimate of their home’s market value, a CMA can help you … Read More

A Closer Look At Your Neighbourhood’s Housing Market

EditorFamilyLending.ca, Financial Tips, General Interest, Mortgage News, Mortgage Talk Canada, Mortgage Term, Real Estate Advice, Residential Mortgages

The elusive soft landing has finally hit ground in Canada, as the latest reports from the Real Estate Association show a decrease in year-over-year sales. The real estate group found that sales were down 0.1% in October from September. Actual sales for October (without the seasonal adjustment) were down 0.8% from a year ago. While not unexpected (a housing slowdown … Read More

The Perks of Paying Off Your Mortgage Faster

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, First Time Home Owner, General Interest, Mortgage News, Mortgage Term, Residential Mortgages

The amortizations gods have been good to Canadians over the past three years. Just 60 months ago, mortgage rates were nearly double what they are now, costing homeowners thousands of dollars in interest every year. In fact, if you were to compare interest costs in 2007 with today’s rates, you’d save over $100,000 in interest over a 25 year amortization … Read More