Bank of Canada holds central rate steady
December 15th, 2006
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Blog by Kevin Sing
December 15th, 2006
New mortgage insurer enters Canadian market
December 15th, 2006
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New mortgage insurer enters Canadian market
AIG CEO suggests 50-year mortgages on the way AIG United Guaranty became the third company to provide mortgage insurance in Canada in mid-October. Canada Mortgage and Housing Corp. currently handles 70 per cent of the mortgage insurance market in Canada, while private insurer Genworth Financial Canada covers the remaining 30 per cent. Two additio ... |
Project Financing
December 8th, 2006
Not 12 months but up to 24 MONTHs rate hold!
You may be looking at several of the projects around town, some of them ranging from 12 months to 24 months for completion. We are involved with take out financing for prospective purchasers on several of these projects and can provide long term rate guarantees (available for 2 through 7 year terms) . If you have purchased in a project please thin ...
November 6th Posted Interest Rates
November 9th, 2006
The following current rates available in the market based on 90 - 120 day rate holds.
Variable Rate 5.10% * five year closed Variable Rate Mortgage
6 mos. convertible 6.10%
1 year open 8.45%
1 year closed 4.99%*
2 year closed 5.35%
3 year closed 5.25%*
4 year closed 5.30%
5 year closed 5.14%*
6 year closed ...
NEW 40 YEAR MORTGAGE WITH 5.0% DOWN PAYMENT - GREAT PURCHASING POWER!!
November 2nd, 2006
There have been several innovative products come to the market over the past several months, 30 - 35 and now 40 year amortizations for mortgages. This can have a dramatic impact on your buying power, following is an outline of how this can help.
Based on previous standard mortgage criteria, a purchaser with family income $70,000.00 could normally qualify for a mortgage of approx. 4. ...
New Debt Servicing Rates - Allow Buyers More Purchasing Power
October 31st, 2006
Financial institutions have always been bound by something called debt servicing. The easy definition of this is "how much money do I have to make in order to service or pay the debt I've incurred" i.e. My mortgage. The guidelines for this until recently have been 32% of my gross annual income can go to my mortgage OR 40% of my gross annual income can go to all my debt.
The lid has just bee ...
Bank of Canada Holds Central Rate Steady
October 18th, 2006
Interest Rates on Hold Indefinitely
The Bank of Canada held its benchmark overnight lending rate steady at 4.25 per cent on October 17th. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, remains at 4.5 per cent. CREA expects interest rates to remain on hold over the rest of the year.
The rate was raised seven times by 0.25 per cent from Septem ...
Genworth Financial Canada Making Homeownership More Affordable For Canadians
October 11th, 2006
Genworth Financial Canada Making Homeownership More Affordable For Canadians with 40-year Amortization
This morning, 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 availab ...