Toronto and Vancouver Markets Begin to Cool

EditorHousing Costs, Mortgage News, Mortgage Term, Mortgage Types, Real Estate Advice, Residential Mortgages

Home sales in Canada’s two hottest markets, Toronto and Vancouver, have already begun to cool thanks to new mortgage rules. According to the Toronto Real Estate Board, July home sales in the city slipped 1.5 percent compared to a year ago. Properties in Vancouver dropped 11.2 percent from June. Concerns about a bubble in both communities had been mounting since … Read More

Is a One-Year Fixed Rate Mortgage Right For You?

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, General Interest, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

Rates have nowhere to go but up. Or at least, that’s what everyone keeps telling us. Banks, economists, mortgage brokers, even Finance Minister Jim Flaherty is insisting that interest rates will start to climb later this year. And yet, they keep going down. The mortgage establishment continues to drop interest rates, pushing long-term fixed mortgage rates like they’re going out … Read More

Refinancing Just Became a Whole Lot Harder

EditorAbout Mortgage Brokers, FamilyLending.ca, Financial Tips, Mortgage Term, Mortgage Types, Real Estate Advice, Refinancing my Property

Ottawa’s latest round of mortgage policies could have quite the impact on current homeowners, especially those shouldering a large amount of debt. If you have a mortgage and are planning to refinance or renew in the coming months, you could be in for a bumpy ride. The two factors that will most impact your experience? Whether or not you plan … Read More

Buyers Showing Caution, Bank Keeps Rates Low

EditorGeneral Interest, Home Insurance, Housing Costs, Mortgage Down Payment, Mortgage News, Mortgage Term, Mortgage Types, Residential Mortgages

The Bank of Canada held its ground today, leaving the overnight lending rate unchanged at 1 percent. While the move was expected (the rate has been locked at this near-historic rate since September of 2010), the tone of the announcement was far less confident than previous press conferences. The Bank’s release explained how a global economic slowdown is impacting Canada’s … Read More