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Buyer Beware the ‘lowest’ Rate in “Mortgage Wars”

Re-posting and edited from a piece written for www.rew.ca Short Version; Yes, a certain lender or Broker may offer a rate .05% lower than another.  But what is the true cost? The client may save $4.31 per month per 100K of Mortgage balance. ($250.20 over 5 years) but...
Penalty Landmines in the ‘rate-war’

Penalty Landmines in the ‘rate-war’

Spring has Sprung! Short Version There is no ‘mortgage rate-war’ Mortgage Rates are likely to remain flat or drop lower still. What will drive rates up?   Good economic News. Maintain focus on the Variable Rate Product. 6 out of 10 CDN’s break their mortgages at...
Another Spring of falling Interest Rates!

Another Spring of falling Interest Rates!

[vc_row][vc_column width=”1/1″]Short Version Rates are trending downward, as they have nearly every Spring since 2009 to some extent.  This trend is likely to stick around awhile. Should you rush to lock in long term?  Likely No. Should you consult with an...
CMHC & Genworth News – Slight Premium Increase

CMHC & Genworth News – Slight Premium Increase

Short Version The latest CMHC news impacts new home buyers only – not current mortgage holders The increase takes effect May 1, 2014 The net impact to the average BC Family purchasing with a 5% down payment is a $5.75 per month payment increase. Based on the median BC...