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Working for You,

Not the Lenders.

Positive signs emerge in local real estate markets

Home sales in Canada appear to have successfully pulled out of the dive they went into back in July of last year. That was when the federal government tightened mortgage rules, reducing the maximum amortization period to 25 years. The January figures from the Canadian Real Estate Association show sales edged higher compared to December, increasing 1.3% in this traditionally slow sales period. The association’s numbers show half of the country’s local markets experienced increases, including Greater Toronto and Greater Vancouver. Toronto rose 5.6% month-over-month and the battered Vancouver market saw a 4.7% m/m improvement.

20 Feb 2013

Finance Minister, Flaherty, Tightens Mortgage Rules in an Attempt to Avert Bubble

When it comes to insured mortgage lending in Canada, 25 is the new 30. Additionally, the maximum a homeowner can borrower against their property is 80% as opposed to 85%. It is interesting to consider that as of 2007 homeowners were able to obtain 40-year amortization. However, Flaherty has cut the maximum amortization down twice since 2008. One could assume that Flaherty is concerned that low borrowing costs could fuel a housing bubble. Shorter amortizations influence an individual’s ability to qualify for a higher mortgage because the payments are more.

21 Jun 2012

Fort McMurray Mortgage Broker

We are growing! I’m pleased to announce that I have expanded my mortgage service into the Wood Buffalo and Fort McMurray area. I have been fortunate to work with many kind clients in this area, and look forward to continued presence in Fort McMurray. As a mortgage broker serving Fort McMurray, I am a licensed and regulated professional with direct underwriting relationships to both lenders and my clients.

15 May 2012

10 year fixed rate at 3.89%- "Is this real life?"

I'm sure this rate news makes you feel a bit like David after his trip to the dentist, "Is this real life?". Well, it certainly may not seem like it if you consider the average 5-year fixed rate over the past 10 years is just over 6%! Most lenders are offering their 10 year fixed rate around 4.99%; however, one lender in Canada is as low as 3.89%!

01 May 2012

SOLD: Calgary housing market up 26% from last April

If April sales are to be any indicator of the rest of 2012, the Calgary housing market will have its busiest year since 2008. According to a recent report by the Calgary Real Estate Board, April sales were up over 26% from the previous year's sales. Furthermore, the average sale price of $429,388 increased by nearly 2% from April 2011. So I guess the big question is… will this trend continue?

01 May 2012

Success story: a client in Fort McMurray

In the past year, I have expanded my business into the Fort McMurray area, and have had great success! I recently had a realtor call and ask if I could help his client purchase a home, even though the client’s bank and a different broker had led to a dead end. Bonnie, my client, wanted to give up but the realtor insisted that she talked to me because he was aware of my previous success. After some strategic planning and a conversation with a lender that I have a great relationship with, it was clear that Bonnie had a very good chance at approval

30 Apr 2012

To Refinance, or not to Refinance?

In years prior, common reasons for refinancing a closed mortgage have ranged anywhere from debt consolidation purposes to renovating your house. However, with the recent economic conditions, another reason has been added to the endless list: low interest rates.

15 Mar 2012