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Interest Rates; A Reduction…well um, sort of.

In a follow-up to Jan 9th’s Interest Rates: Pundits, Predictions and Sharknado, a post prompted by a steady stream of (misleading) headlines threatening ‘imminent’ rate ‘shocks’, please read on for key points clarifying details about the realities of the Bank of...
 Interest Rates: Pundits, Predictions and Sharknado

 Interest Rates: Pundits, Predictions and Sharknado

Short Version Watch Sharknadoas it is a better use of your time than reading inflammatory predictions. Mortgage rates actually dipped lower this week. For a BC resident with the provincial average variable-rate mortgage balance of $300,000.00 a 0.25% hike in interest...

Happy New Year!

This was emailed out on New Years Eve to all my current clients directly. I am posting it now in order to have an easier access record of predictions to review. Happy New Year! I have always subscribed internally to ‘The 1% Difference’. The theory being...
The Reverse Mortgage Dilemma.

The Reverse Mortgage Dilemma.

A dilemma for clients and Brokers alike. Short version; Engage your Mortgage Broker for a better understanding of this product. HomeEquity Bank Guarantees that the amount to be repaid will never exceed the fair market value of your home at the time that it is sold. No...
82 Years Old with a 30 year Amortisation?

82 Years Old with a 30 year Amortisation?

Can an 82-year-old take out a new mortgage with a 30-year, or even a 35-year amortisation? Strictly speaking, YES. In fact, in 2009 my then 82-year-old client did just that in order to invest the capital. With the net profits between the 2.25% mortgage rate enjoyed...
A Cool Car, Or A Home Of Your Own?

A Cool Car, Or A Home Of Your Own?

Thinking of purchasing or leasing a new car? Some quick math for you. A $400.00 payment will reduce your total mortgage qualification by $100,000.00 Ouch. I will confess that I think about new cars for at least a moment or two daily, fast cars and I go back a few...
Inequality Amidst Equals

Inequality Amidst Equals

Whether choosing a 5 year fixed rate Mortgage, or having it chosen for you (a la OFSI guidelines) there are important ‘fine-print’ considerations around lender selection. Click here to read my guest post on the topic at www.rew.ca Thanks www.REW.ca!...
Turning your home into an investment property: Step One

Turning your home into an investment property: Step One

If you are retaining your residence as an investment property (rental) and moving on to your next home, there’s one very important first step. Before you do anything else, evaluate your current financing and look for opportunities to achieve the maximum leverage...