“Increasing the complexity of a service raises the value of the service provider”. The last ninety days of 2016 have brought many changes to Canadian mortgage lending making the entire process much more complicated for all home owners, be they…
On October 3, 2016 the government of Canada announced that they were going to implement changes to the mortgage industry. These changes would go into effect on October 17, 2016. To say these changes were a surprise would be an…
Great news for all the variable rate mortgage holders. Prime will remain at 2.70%. You can start your happy dance now. Press release The next scheduled date for announcing the overnight rate target is January 18 2017.
If you are planning to purchase your first home in the new year you could be receiving an additional $2000 in rebates. As of January 1, 2017, the current land transfer tax rebate of $2000.00 will double to $4000.00. This…
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Once again, great news for all the variable rate mortgage holders. Prime will remain at 2.70%. You can start your happy dance now. Press release The next scheduled date for announcing the overnight rate target is December 7 2016.
Ever wonder how much that new car payment or line of credit balance is costing you when you start looking for a home? Perhaps you didn’t know that any personal debt you carry restricts the amount of money you can…
With interest rates at all time lows it doesn’t surprise us that another big change is coming. As of October 17, 2016 all insured mortgages will have to qualify at the Bank of Canada mortgage qualifying rate(MQR), currently 4.64%. Previously…
It is an exciting time to purchase real estate when mortgage rates are the lowest they have been in history. It is also an appropriate time to look into other ways a low interest rate can help you reach your…
It’s no secret that the mortgage industry requires an extensive amount of documentation needed to process a simple mortgage transaction. The frustrating part about it is a lot of the information presented is repetitive or redundant. Since mortgagesbycraig.com is one…