mortgage: 10 Spring Cleaning Tips for Mortgage Professionals - 04/17/07 03:25 PM
10 Spring Cleaning Tips for Mortgage Professionals
Spring cleaning gives us that wonderful feeling of freshness, and renewed energy. It means a new start and for many...a new life. After hibernating for the winter, you may find that you are surrounded by lots of clutter! Even those of us in sunny Florida … (2 comments)
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mortgage: Real Estate Prices, Sales Soar - 03/26/07 09:12 PM
After catching its breath over Christmas, the Vancouver Island real estate market is soaring again, especially south of the Malahat. New home construction is also climbing.
February data released by the Victoria and Vancouver Island Real Estate Boards show the number of units sold up substantially across virtually the whole island, … (0 comments)
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mortgage: Investment Property Mortgage Insurance Program - 03/11/07 11:18 AM
INVESTMENT PROPERTY MORTGAGE INSURANCE PROGRAM
The Genworth Investment Property Program now makes it possible to purchase a rental property with as little as 10% down payment. The Investment Property Program is designed for individuals who are looking to diversify their investment portfolio and who have a proven history of managing their … (1 comments)
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mortgage: CMHC Releases 2006 Consumer Survey - 03/11/07 11:04 AM
CMHC RELEASES 2006 MORTGAGE CONSUMER SURVEY
Vancouver Toronto March 7, 2006: Canadian Mortgage and Housing Corporation released their 2006 Mortgage Consumer Survey that tracks behaviour and trends of the mortgage borrowers. The survey is based on a national probability sample of 2,383 active mortgage consumers who have recently undertaken a mortgage transaction or are planning to do so.
CMHC indicated that the Canadian … (0 comments)
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mortgage: A Better Way To Shop For Your Mortgage - 03/03/07 12:24 PM
Okay, you've done your homework. You didn't simply accept your bank's posted mortgage rate. One question got you an immediate one percent reduction. You even shopped around at a couple of competing banks. Now, with pre-approval in hand, you're a mortgage savvy consumer ready to go house hunting.
But wait a minute. … (0 comments)
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mortgage: BC Housing Market Forecast - 02/16/07 04:30 PM
Forecast Highlights
Housing market activity to remain high Affordability for low-equity buyers worsens Sales slip lower, price increases slowing Tighter rental market Soft-landing market adjustment ahead Lower-cost markets outperform higher-cost urban markets Gradual market adjustment ahead
Market conditions are shifting away from a tight seller's market. Considerable market price pressures remain, which has … (0 comments)
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mortgage: Canada new house prices level off in December - 02/11/07 12:17 PM
Average prices of new houses in Canada did not show a monthly increase in December for the first time since June 2000 as superheated markets in western Canada showed signs of cooling down.
Statistics Canada said on Thursday December's new home prices were up 10.7 percent from a year earlier, but … (0 comments)
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mortgage: Canada Mortgage Agency Says Home Starts to Drop Through 2008 - 02/11/07 12:12 PM
Canada's federal housing agency said home starts will decline this year because of higher prices and mortgage costs, and in 2008 will dip below 200,000 units for the first time in seven years. Construction of new homes will decline to 209,500 units this year from 227,395 in 2006, and then to … (0 comments)
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mortgage: Non-resident Mortgage Financing - 02/11/07 12:05 PM
Non-Resident Mortgage Financing
Purchases by Non-residents of Victoria and Vancouver Island properties have become increasingly popular during the past few years. The trend is expected to increase due to the excitement over the Vancouver - Whistler 2010 Winter Olympics.
There are many lenders that provide mortgages to non-residents. These lenders will generally … (0 comments)
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mortgage: New To Canada Mortgage Financing - 02/11/07 12:00 PM
Recent Immigrant to Canada? Discover mortgage products designed for you.
New to Canada? While most financial institutions traditionally have insisted that new immigrants provide a down payment of at least 25% to 35%, Genworth now offers qualified homebuyers who have immigrated or relocated to Canada to qualify for a mortgage with as little … (1 comments)
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mortgage: Inflation quickens as housing costs swell - 12/19/06 09:41 PM
Canada's inflation rate accelerated to a 1.4-per-cent pace in November as consumers paid more for home repairs and mortgage costs rose at the fastest pace in more than five years.
The annual rate rose after a 0.9-per-cent gain in October, Statistics Canada said Tuesday. It was the first time in three months … (0 comments)
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mortgage: Canada a world leader in mortgage fraud, investigators warn - 12/16/06 02:08 PM
Canada is becoming a global trendsetter in the burgeoning business of mortgage fraud, say law-enforcement experts and investigators gathered this week at an international crime conference. Although credit card and mass marketing fraud are still "a huge concern" for Canadians, consumers need to pay particular attention to the rapidly rising potential … (0 comments)
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mortgage: Mortgage rate drop aligns 1-year, 5-year fixed residential rates - 12/16/06 01:59 PM
Canadian mortgage rates dropped a 10th of a percentage point Monday _a minor tweaking that keeps one-year and five-year fixed rates abnormally close to each other.
``There's an inverted yield curve now and many lenders don't want to lend money on a short-term basis,''said mortgage broker Kris Budisa, regional manager of … (0 comments)
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mortgage: House prices ebb but remain strong - 12/16/06 01:48 PM
Some of the air has come out of the Calgary housing boom with prices for new homes suffering their first month-to-month drop in two years, and one of the steepest declines among more than two dozen Canadian cities. However, Calgary homeowners can relax, as the Statistics Canada report Monday also shows … (0 comments)
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mortgage: Hot housing market expected to cool . . . - 12/15/06 09:03 PM
Making money in real estate wasn't hard for many Canadians in 2006.
In Alberta, an economic boom drove house prices through their heavily insulated roofs, while the rest of the country saw average house prices rise in the double digits, according to realtor Royal LePage.
But as a new year dawns, investors and … (0 comments)
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mortgage: Make your mortgage tax-deductible - 11/25/06 04:40 PM
Leading a revolution in the mortgage business, author Fraser Smith is teaching Canadians how to catch up to their U.S. counterparts and make their mortgages tax-deductible.
In Canada, mortgages are not tax-deductible but interest payments on money borrowed to create wealth or to make investments are deductible and there are a number … (0 comments)
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mortgage: Rate yourself: Fixed or variable mortgage? - 11/25/06 04:33 PM
For a lot of people it's a more intimate question than "boxers or briefs?" and the reply is probably more revealing about a person's innermost self: Fixed-rate or variable-rate mortgage? With the Bank of Canada now widely thought to have concluded a series of seven interest-rate hikes in the past year, … (0 comments)
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mortgage: Web Rate Advertising tool is live! - 11/24/06 11:45 AM
Our new rate portal web feature is now live! This is a tool that can be put as advertising on external web sites, and most importantly automatically updates mortgage rates when then change. Also, there is a small text area at the bottom that we can use for "features" and that we … (4 comments)
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mortgage: Mortgage costs not clear to homeowners - 11/23/06 12:38 PM
Less than one-third of Canadian homeowners know how much it costs for a mortgage when they buy a home, a survey shows. When asked how much they might pay for a $200,000 mortgage at six per cent over 25 years, 70 per cent said they didn't know or guessed lower than … (2 comments)
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mortgage: Clients win as mortgage brokers take on banks - 11/23/06 12:31 PM
Do you remember the days long, long ago when the mortgage broker was considered the "lender of last resort"? He was the guy -- there were very few women in the business in the 1980s -- you crept up a rear staircase to see when you were turned down by the … (1 comments)
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mortgage: Tip of the day - 11/23/06 11:46 AM
How can you take some of the strategies within the Smith Manoeuvre, and apply them to Real Estate Investors? It's called the 'Cash Flow Dam' by Fraser Smith. Think of the power of taking monthly rental income the client receives, and before paying the mortgage payment on the rental, the client … (0 comments)
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mortgage: Housing market crash not in the cards for Canada - 11/22/06 04:14 PM
Canada's hottest housing markets will not suffer the price crashes seen in some U.S. regions, in part because the speculation and high-risk mortgages that fuelled the activity south of the border are not as prevalent in this country.
A survey by realtor Century 21 Canada found the massive price increases seen across … (1 comments)
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mortgage: Bridgewater Bank & AIG United Guaranty Canada Partner to Deliver Innovative Mortgage Products to Canadian Homebuyers - 11/22/06 02:23 PM
Bridgewater Bank, Canada's newest chartered bank, and AIG United Guaranty(1), Canada's newest mortgage insurer announced today the agreement of a strategic partnership. The two companies will combine their respective mortgage finance and mortgage insurance expertise to deliver innovative products and superior customer service to the Canadian homebuyer market.
Bridgewater Bank's Vice-President & … (0 comments)
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mortgage: Struggling to pay for a home - 11/22/06 09:02 AM
One in every seven Canadian households allocated nearly a third of their paycheck to shelter in 2004, according to a study that found renters in pricey cities such as Toronto and Vancouver were more likely to struggle with affordability than home owners.
Statistics Canada said Wednesday that 14 per cent of Canadian … (0 comments)
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mortgage: Discover what has the biggest impact on your credit score! - 11/17/06 12:41 PM
Credit scoring has an enormous impact on your financial picture. It can mean the difference between getting a good interest rate on your mortgage loan, or whether you even qualify at all. It is therefore imperative to be well-versed on the factors that influence your credit score, and have the ability … (1 comments)
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mortgage: Mortgage fraud under attack - 11/10/06 01:33 PM
Last week, a judge handed down a ruling in a mortgage fraud case that has the press going crazy and the banks getting nervous.A couple owned a condominium. They did not have a mortgage. One day, their tax bill arrived. To their confusion, the name on the tax bill was not … (4 comments)
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mortgage: More Canadians using mortgage brokers: survey - 11/10/06 01:12 PM
Consumers using a mortgage broker are significantly happier than those using traditional approaches
Homebuyers' confidence in mortgage brokers continues to grow. More than 31% of Canadians sought the advice of a mortgage broker in 2006, according to a recent survey by the Canadian Institute of Mortgage Brokers and Lenders (CIMBL). This figure … (0 comments)
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mortgage: Home building market continues climb - 11/10/06 01:06 PM
The upswing in Prince George's house construction is continuing, the latest statistics from Canada Mortgage and Housing Corporation show.Year-to-date, there have been 243 starts for single-family homes as of the end of October, a 10.5-per-cent increase over the 220 reached by the same point last year. Add on the 37-units of … (0 comments)
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mortgage: Housing Market Participants to Benefit from Major Enhancements to CMHC Information Products - 11/10/06 01:01 PM
Canada Mortgage and Housing Corporation (CMHC) today announced that the housing industry, consumers and policy makers will benefit from a new suite of enhanced surveys and analytical reports from its Market Analysis Centre (MAC). "Our clients rely on MAC's products for comprehensive and up-to-date housing market information. In an ever-changing market, … (0 comments)
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mortgage: Court ruling frees Toronto couple from fraudulent mortgage - 11/03/06 09:06 PM
A Toronto court ruling that has freed a couple from a bogus mortgage is "unprecedented" and a "breakthrough," the victims' lawyer said Wednesday.
Superior Court Justice Randall Echlin ruled Tuesday that Seyed Rabi and his wife, Shohreh Shafiei, were the innocent victims of identity thieves who placed a $247,860 mortgage on the … (1 comments)
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mortgage: CMHC predicts strong year for housing starts in ‘06, but decline in 2007? - 11/03/06 08:53 AM
Canada Mortgage and Housing Corp. says this should be another strong year for housing starts, but they are expected to decline in 2007.The agency predicts starts will reach 227,900 units in 2006, before decreasing to 210,900 units next year.But although residential construction will ease, 2007 will mark the sixth consecutive year … (0 comments)
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mortgage: Housing starts set for three-year slide - 11/02/06 09:03 AM
Housing starts will likely decline over the next three years, while the blistering pace of price increases is expected to slow, a housing report predicted Thursday.
Starts are seen dropping 7.5 per cent next year and another 10.9 per cent between 2007 and 2010, Canada Mortgage and Housing Corp. said.
Price … (0 comments)
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mortgage: Bank of Canada rapped housing agency on inflation - 10/30/06 01:12 PM
Bank of Canada Governor David Dodge rapped the government housing agency last summer for fueling inflation with new mortgage insurance products, according to a letter released by the central bank on Monday. Dodge wrote the letter to the Canadian Mortgage and Housing Corporation (CMHC) on June 30, but later met with … (0 comments)
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mortgage: Do you need commercial financing? - 10/28/06 03:38 PM
Are you looking for a commercial mortgage broker?
Do you want to refinance a commercial project?
When looking for a residential mortgage in Canada, it pays to shop around. The same thing is true for commercial mortgages. Using the resources of a mortgage broker with a great deal of commercial loan experience will … (1 comments)
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mortgage: Importance of using the right mortgage broker - 10/27/06 12:29 PM
What makes one mortgage broker better than another? A recent survey by TriDelta Financial Partners of their Canadian customers highlights the importance of using independent mortgage brokers who are qualified to understand the financial and retirement planning goals of their client.
When asked about what they are seeking from their mortgage broker, … (0 comments)
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mortgage: Don't Be Too Quick To Sign That Mortgage Renewal Letter - 10/26/06 10:48 PM
More than 70% of Canadians do not take advantage of their position and a mortgage broker's services during the renewal of their mortgage. In fact, most Canadians simply accept the posted rate their bank offers them at renewal.
You should recognize that you are now negotiating from a position of strength as … (0 comments)
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mortgage: First time home buyers - 10/25/06 11:23 AM
When you are buying a home for the first time, the amount of new information in the marketplace can seem overwhelming. Since finance and real estate markets are changing constantly I will walk you through the process step by step to make sure nothing gets overlooked, including opportunities available only to … (0 comments)
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mortgage: Mortgage rates on the rise - 10/24/06 11:19 PM
Mortgage rates have begun heading up again at Canada's major banks, reversing two rate cuts made last month.
TD Canada Trust, Royal Bank, CIBC, and Bank of Montreal have all boosted their posted five-year fixed mortgage rates by a fifth of a percentage point to 6.8 per cent.
A four-year fixed mortgage also rises by a fifth of … (0 comments)
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mortgage: Buying a new home? - 10/23/06 06:13 PM
Buying your home is a very exciting time, whether it's your first home or your retirement dream home. A home is one of the biggest purchases of your life and you have a lot of questions about the home buying process. We'll spend time sitting with you, discussing your needs, explaining … (4 comments)
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mortgage: Credit Problems? Were you refused a mortgage from your bank? - 10/19/06 11:14 AM
It's not the end!
It doesn't feel good to be turned down but there is no need to be embarrassed or disheartened. Most consumers are not aware they can purchase or refinance a home even if they have had problems with credit in the past or present.
Don't let past problems hold … (0 comments)
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mortgage: 10 Tips to Being Mortgage Free Faster - 10/19/06 10:54 AM
One of the highest financial priorities of Canadian homeowners is to pay off their mortgage as quickly as possible. Most are aware that paying down extra principal in the early years by whatever means possible can shorten the life of your mortgage — and dramatically lower the interest you'll pay over … (0 comments)
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mortgage: House price appreciation across Canada to slow as more listings come on stream in 2007, says RE/MAX - 10/18/06 11:30 AM
Home buyers across the country will breathe a sigh of relief in 2007, thanks to a nationwide influx of new listings that is expected to slow price appreciation in major Canadian centres, says a report released today by RE/MAX.
The RE/MAX Housing Market Outlook 2007 found that while the number of homes … (0 comments)
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mortgage: AIG United Guaranty - Launch into the Canadian Marketplace - 10/18/06 10:47 AM
AIG UNITED GUARANTY CANADA UNVEILS PRODUCT LINE-UP
Mortgage Insurer Launches New Line of Mortgage Insurance Products
TORONTO – AIG United Guaranty1 Mortgage Insurance Company Canada, which provides mortgage guaranty insurance designed to increase home ownership, has introduced a product lineup that includes new Mortgage Insurance options as well as enhanced … (0 comments)
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mortgage: New enhancements Welcome to Canada program - 10/17/06 10:03 AM
We are pleased to announce enhancements to our residential mortgage financing policies relating to the following:
· New immigrants taking up permanent residence in Canada up to 65% not qualified, 75% qualified and 95% insured. · Temporary residents who are in Canada on work visas … (0 comments)
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mortgage: Why a Broker - 10/16/06 10:45 AM
Why use a Mortgage Broker?
Given that taking out a mortgage is one of the most important financial decisions the average person will ever make, why is it that most people in Canada spend more time shopping for their next pair of shoes than they do looking for a mortgage? In … (2 comments)
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mortgage: Feds consider privatizing CMHC - 10/16/06 10:42 AM
The Harper government is "floating trial balloons" over the possible privatization of Canada Mortgage and Housing Corporation, according to published reports.
The Globe and Mail quotes one Bay Street source as saying the impetus for the move is coming directly from the office of Finance Minister Jim Flaherty.
Neither the minister's … (0 comments)
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mortgage: Incomes up, debt up too - 10/15/06 12:44 PM
High housing costs makes it hard to attract workers
First, the good news: We're all making more money.
The bad news, according to the Chartered Accountants of B.C., is that skyrocketing housing costs are pushing up personal debt levels.
However, further gains in disposable income are on the way, the bean counters say.
"The province's … (0 comments)
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mortgage: Housing starts reach new high (Prince George) - 10/12/06 08:53 AM
The Prince George homebuilding industry enjoyed its most productive third quarter since the Canada Mortgage and Housing Corporation began collecting statistics, says a CMHC market analyst."A total of 96 single-detached homes were started between July and September, the busiest third quarter on record going back to 1988," Andy Ni said Tuesday.This … (0 comments)
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mortgage: Cooling Canada housing boom may aid central bank - 10/11/06 08:13 PM
Back-to-back months of decline may not spell an end to Canada's housing boom, but they do take a bit of pressure off the Bank of Canada as it adjusts monetary policy to a slowing economy.
New home construction dropped 2.4 percent in September, missing economists' estimates for a gain, due to … (1 comments)
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mortgage: Genworth Financial Canada Making Homeownership More Affordable For Canadians with 40-year Amortization - 10/11/06 08:55 AM
Genworth Financial Canada, The Homeownership Company, will now offer insurance on mortgages that are amortized over 40 years. The extended mortgage period reduces a borrower's monthly payment, enabling more buyers to afford a home of their own and increasing the choices available to them. For example, buyers could save as much … (1 comments)
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mortgage: Housing Starts Stumble - 10/10/06 11:34 AM
Canadian housing starts fell 2.4 per cent in September as construction on condos and apartments hit its lowest level in more than two years, Canada Mortgage and Housing Corp. said Tuesday.
Starts unexpectedly fell to 211,300 units in September, on a seasonally-adjusted annual basis, from 216,600 units in August. Single-house construction rose … (0 comments)
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mortgage: New 100% Mortgage Program - 10/10/06 11:04 AM
New !! The 100% Mortgage Program… Another great mortgage option from VERICO Select Mortgage! Not having a down-payment doesn’t have to stop your customers from acquiring the home they’ve dreamed about owning. Under the 100% Mortgage Program, your customer can now borrow the full amount of the purchase … (0 comments)
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