SEASON OF PAYING IT FORWARD
2017 is already 3 weeks in and we are off to a rocking start. I wanted to thank all of my valued clients for their support over the last year, thank you so much for not keeping me a secret and continuing to refer your friends, family and colleagues requiring help with their mortgage financing – it is an honour to connect with your loved ones and help them.
This year, I tried something a little different over the holidays. To each and every one of my clients, I sent out a $5 bill asking them to use this money towards doing something nice for someone….anyone, that they cross paths with – and encouraging them to “Pay it Forward.”
It was overwhelming the number of positive emails and text messages and phone calls that we received. We created a little chain and made a difference in the lives of so many people, with this small gesture.
Thank you so much to everyone who reached out and let me know what you did and how it went, it was true joy hearing all of your lovely stories!
Please – let’s make it a habit of thinking about “paying it forward” year round. Be it through kindness, going the extra mile professionally, whatever…
Be wary of banks that offer you an extremely low initial rate with a significant increase a year later. For a first time home buyer in Canada, the complexities of mortgages can be very overwhelming, and it can be easy to get locked into a mortgage without getting the best rate possible.
One of These Three Things Have to Go Wrong For Lower Rates
There are 3 things that will dictate the direction of Mortgage Rates. One of them has to happen in order for rates to fall further – And one of them is Bad! If you are pulling for mortgage rates to go down here are 3 things that you should be paying attention to…
Canada Mortgage Rates- a Handy Guide to cibc mortgage rates
The Rate Tango: Canada Mortgage Rates Variable vs Cibc Mortgage Rates Fixed. Become an expert on Canadian Mortgage Rates with our Handy Guide. Many first time home buyers are wondering whether they should take advantage of this low rate or if they should lock in the more secure fixed rate mortgages.
Is This The End Of 5% down payment?
CMHC is the government body that insures mortgages. To put it in the simplest of terms, when CMHC insures a mortgage, it means the bank essentially does not have any risk when it issues the loan. Of course there’s some risk carried by the bank but the Government…
Mortgage Penalties In the Media Again
A self-employed, single mother of a 12 year old boy, also taking care of her elderly mother, made CBC headlines for having to pay a $30,000 early termination penalty on her mortgage, when she was forced to sell her house in April, due to the COVID-19 pandemic.
Daily Corona Virus Mortgage Updates
Canada’s lowest nationally available conventional variable rate is just nine basis points cheaper than a comparable 5-year fixed rate. That minuscule “fixed-variable” spread is now 80% narrower than its 10-year average. The market is no longer compensating new borrowers for the risk of a floating-rate mortgage.
CMHC Rule Changes
Traditionally – if the waters are rough, you do whatever you can to not rock the boat. CMHC today however has rocked the boat. The housing market has weakened over the last few months, due to the pandemic, but Canada’s largest default insurer is making it tougher for people to get a mortgage…
How to Get Financing during the COVID Pandemic
Most of you are going to be very angry at this post because it may seem like I am actually encouraging people to get out there and buy properties.As a matter of fact, anyone who calls me asking for financing options, the first question I ask them is: “Are you really going to be buying a property in the next 3 months?”
Variable Rate Update
During the start of the lockdown due to the COVID crisis, banks hiked their variable rates discounts to prime – 0%. At the time, we predicted that variable-rate discounts will improve significantly once again. Well, very slowly now, we are starting to see this happen.
Coronavirus related to your mortgage
Believe it or not, the coronavirus can have an impact on your mortgage and your interest rate in particular. Listen below to find out exactly how and why.