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Stuck in a high rate 10 year fixed mortgage

With low rate offerings over the past several years and a struggling economy, some homeowners chose to lock into a longer term mortgage even if the interest rate was a bit higher.  If you are one of those people who feel stuck in a high rate 10 year fixed mortgage you may be wondering ifRead More

Financing Options For Conventional Borrowers – Ask Your Mortgage Broker

To understand financing options for conventional borrowers – ask your Mortgage Broker.  In October 2016 the Federal Government announced some significant changes to mortgage rules for high ratio borrowers.  Changes for high ratio mortgages took effect Oct 17th.  Changes for conventional borrowers take effect Nov 30th.  These changes will result in tighter guidelines to qualifyRead More

The History of Recent Mortgage Rule Changes In Canada

As the year comes to an end we take a look back to review the history of recent mortgage rule changes in Canada since the economic crash.   THE WILD WEST Although financing in Canada was not as open as in the United States, the rules did allow people to buy with little or noRead More

New Canadian Mortgage Rules Effective Oct 17th,2016

The Minister of Finance announced today new Canadian mortgage rules effective Oct 17th,2016.  The new rules will impact high ratio buyers with less than 20% down payment.  Other rule changes are expected to follow.  Stay tuned for details as they unfold. Currently a home buyer with less than 20% (high ratio) requires mortgage insurance throughRead More

Can Someone Steal Your House?

Can Someone Steal Your House?  Courtesy of Dominion Lending Centre head office thank you for the tips! It might sound unbelievable, but it’s absolutely possible for someone to steal your house. It’s called title fraud, and it’s a problem that has been around for a while in Canada. And although exposure to title fraud isRead More

Things to Consider When Buying in a New Development

With plenty of activity in the real estate market in the Greater Vancouver area and more new building slated over the next few years here is my list of “Things to Consider When Buying in a New Development” Representation Some buyers attend the display suite and consider a purchase directly with the developer sales personRead More

Changes to Property Purchase Transfer Taxes

Tony at Spagnuolo and Company recently shared some answers to the questions they have received from consumers regarding the recent changes to property purchase transfer taxes (PTT). Thanks for sharing, Tony!   How is the government going to monitor the 1 year occupancy detail? As with the First-time Home Buyers (FTHB) exemption, the Ministry willRead More

The Real Numbers for Changes to Down Payment Rules

After the announcement Dec 11th by Finance Minister Bill Morneau, many consumers were unclear about the real numbers for changes to down payment rules.  Specifically to the new minimum down payment requirement, which takes effect on February 15, 2016. The new rule applies to insured mortgages only – those where the borrower has less thanRead More

Smart Tips For Using Your Credit Card

Tis the season to be generous but beware of the temptation to overspend and overuse credit; some smart tips for using your credit card over the holiday season.  If you you plan to give your credit card a bit of a workout this Christmas consider a few tips and details which may save you someRead More

Holiday Spending Plan

Only a few weeks till Christmas and I know what you are thinking; I need a holiday spending plan.  If you are like most people you are thinking of time with family, friends and what gifts you are going to buy for everyone – so probably not. But really a holiday spending plan isn’t aRead More


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