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Mortgage Market Update

2013-10-31 | 11:46:02

Bond rates have continued to inch downward the past week. If this continues, we will likely see some further softening of long term rates. Several lenders did lower their rates by 10 basis points. 5 year rates continue in the 3.49-3.89%. Variable...

Mortgage Market Update

2013-10-04 | 12:16:53

No change! Rates have remained steady this past week as a result of very little movement in the bonds.  5 year funds are available in the 3.69-3.89% range.10 year funds are in the 4.39% range.Variable rate mortgages are available as low as...

Cory's Mortgage Market Update

2013-09-04 | 12:31:32

There was no change in today's press release. Their overall message of keeping Bank prime the same has not changed. Bank prime remains at 3%.   This means no changes in variable rate mortgages or line of credit rates. Five...

Bridge financing can ease closing day stress

2013-08-22 | 06:10:08

Bridge financing could have saved the day last month when a series of disasters on closing day caused three related real estate deals to fall apart.  When a bank pulled the financing  from one buyer at the last minute, it...

Rates Rise Again. No Housing Threat Yet

2013-08-22 | 06:03:04

Fixed mortgage rates have been on a steady ascent since bond yields blasted off in May. Now, the major banks are jacking up rates again.Most of the Big 6 are lifting their “Special offer” 5-year fixed mortgages to 3.79% or 3.89%...

Mortgage Lending: CMHC's limit to Banks and Lenders

2013-08-14 | 09:30:00

When news broke last week about CMHC limiting securitization guarantees, it was commonly viewed as a new attempt by Ottawa to clamp down on mortgages. In fact, it was an old attempt.The $85-billion MBS guarantee limit (the one that made...