Mortgage Minute

Hot off the heels of the federal budget reveled yesterday in parliment, CIBC has made special offers which allow clients to take full advantage of proposed tax credits by putting extra money in their pockets to help buy their first house or renovate their home. CIBC clients will be able to:    - ...

With thanks from Deloitte and Touche, Globe and Mail, Hamilton Spectator and the Ministry of Finance, please see the more immediate impacts to our business from the 2009 budget. This is NOT all inclusive. 1. Effective January 1, 2009, it is proposed that the basic personal amount and the two lowe...

Sorry this was just too funny I had to post it.  I came across this video the other day and because I had to be in the office on a Sunday to sign up a client I thought I would share this with you all while I was waiting for my client to arrive. Its a video about new home owners.  They have just s...

It sounds a bit accedemic, if not aloof, but it is a term used to describe the current set of interest rates.  An inverted yield curve occurs when long-term yields fall below short-term yields.  Take for example the following set of current mortgage rates at ING Direct: 1-year     4.50%2-year    ...

In support of providing mortgage financing to new immigrants where no Canadian credit score has been established, a number of banks have adopted an Insured New to Canada policy in cooperation with the default mortgage insurance companies (eg. Canada and Mortgage Housing Corporation). Previously, ...

During times of falling rates I often get calls from clients about what rate they are getting.  Today the Bank of Canada announced it was cutting its overnight lending rate by 1/2%.  Prior to this, banks had already started to loosen their grips and allowed fixed rates to come down some.  The fir...

Its always a bonus when you secure a mortgage with some special feature that very few others can brag about.  For example, it is becoming less and less common in the market place to see a lender offer a special arrangement on their mortgage discharge penalty.  Most lenders offer the standard..."T...

A bit off topic this time, but the social element is still there.  No this isn't my weekend with the boys on ice.  This is my 14 year old daughter's weekend to skate.  Every year the Ringette Association of Burlington puts on an excellent ringette tournament in Burlington so I am told.  This is m...

Well, we said we had a surprise for our viewers coming in the new year and here it is - a brand new MortgageResource.ca website! This has been a long time coming.  The evolution away from rudimentary platforms like eBlogger and Frontpage have carried us as far as it could go, and we're really loo...

Unfortunately, marital break-ups constitute a good number of the refinances I deal with over the course of a year.  In such cases, credit may have suffered over the time leading up the the separation.  This will not help the cause of securing financing, but if the brusied credit is not severe, an...