You must have heard the new RBC Bank radio commercial. I am not reproducing the exact words, but you will get the idea. It goes something like this: A customer asking (apparently not an RBC loan officer): “Do you have…
Mortgages
Higher mortgage rates: It’s coming
by Vasko DeLev • • 0 Comments
Mortgages are definitely a very boring topic. They would make the front page of the papers, or a TV news flash only if something drastically happens. Over the last few months – nothing happened. This past week though, the first…
The cost of cheap interest-only mortgages
by News Feed • • 0 Comments
Paying interest only on your mortgage is tempting – your payment is lower, you would have better cash-flow. There are however disadvantages also. These loans come with many risks. For one thing, home buyers can’t build equity with interest-only payments.Find…
Mortgage rate wars: So what?
by Vasko DeLev • • 0 Comments
Mortgage rates are under 3% for the popular 5-year term. Bank of Montreal is the one, who likes to make a media splash any time when they lower rates. But other lenders have been offering such low rates for months…
100% financing: How they do it in the US?
by Vasko DeLev • • 0 Comments
Canadian banks have recently eliminated the so called zero-down mortgages. The reasoning is very understandable: such loans present higher risk to the lender and also encourage home buyers to opt for a larger home than what they can afford. 100%…
Hot from the wires: ING stops accepting mortgage applications
by Vasko DeLev • • 0 Comments
If you were an ING mortgage customer you were probably a very happy customer. ING was known to offer an exceptional service and very competitive rates for several years. Last year Scotia Bank purchased ING Direct, but for awhile the…
Higher rates: Canada to be first
by Vasko DeLev • • 0 Comments
Nobody knows what kind of glasses economists use when they look into the future and try to predict stock market direction or interest rates. The truth is that whatever they say it is backed up by a mountain of data.…
Predictions for 2013
by Vasko DeLev • • 0 Comments
A good part of some predictions is the fact that they never materialize. Like the one calling for the end of the world on Dec 21, 2012. To celebrate the occasion our family watched the movie “2012” yesterday: the day…
The mortgage landscape in Canada
by Vasko DeLev • • 0 Comments
CAAMP (The Canadian Association of Accredited Mortgage Professionals) released their annual survey of the mortgage industry in Canada. Authored by Will Dunning, the CAAMP’s chief economist, the report paints a detailed picture of the our mortgage industry. Pouring through the…
Mortgages: Zero Down Again
by Vasko DeLev • • 0 Comments
In a year of very tight mortgage rules 100% financing is still available to Canadians If you walk into any bank branch and ask for “no down payment mortgage”, they will look at you like you are an alien. The…