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The Most Important Question This Spring

The Most Important Question This Spring

Short Version:   The most important question a home-seller must ask their Broker or their banker this spring: ‘Do I QUALIFY to port my mortgage?’   You must re-qualify to port your mortgage to a new property, and you must re-qualify under stringent new...
What’s Changing Jan 1st?  Rates or Rules?

What’s Changing Jan 1st? Rates or Rules?

Upcoming changes to mortgage lending guidelines, the rules of borrowing, take effect Jan. 1, 2018 and while there’s been a fair bit of press coverage on this, there is also a fair bit of confusion.   What is NOT happening   Interest rates...
Three (OK, Two) Reasons Rates Will Not Hit 5%

Three (OK, Two) Reasons Rates Will Not Hit 5%

The link below is worth a read if you are concerned about rates, and I agree with two of three points. #2 not so much.   Short Version Inflation is non-existent The pain would NOT be catastrophic (As explained in past posts) New Mortgage Rules are the ‘New...
What about this recent Bank of Canada interest rate increase?

What about this recent Bank of Canada interest rate increase?

What about this recent Bank of Canada interest rate increase?   Short Version   I am not locking in myself I am staying variable For a variety of reasons   Long Version   If your discount from Prime (now 3.20%) is 0.50% or deeper – then the...
Impending Doom Averted, This Time

Impending Doom Averted, This Time

Basic Renewals   Will the impending doom, er… changes, hurt homeowners simply renewing their mortgage with their current lender? No.   If your life is easy, things are easy.   Thus far the government has continued to leave renewals alone. And one can...