Making your Toronto mortgage work for you.
Arnold and Christopher Molder, licensed, experienced, and passionate mortgage brokers at Tridac Corporation Ltd - The Mortgage Centre, offer forward-thinking mortgage planning services to home owners who choose to use their mortgage as an asset rather than a liability. Let the father-and-son team help you:
- finance the purchase of a new home
- refinance or renew an existing mortgage
- arrange a private or second mortgage
- align investments and tax planning with your mortgage
In business since 1977 because of the value of those who we serve.
Providing personalized attention to each client from initial consultation advising on how much you can realistically afford to communicating with your lawyer at closing. Offering: innovative mortgage products and strategies, competitive rates, timely update of market conditions, trust.
Make your Toronto mortgage work for you. Contact Arnold or Christopher Molder. 416.461.0204
Toronto Mortgages - Mortgage Interest Rates For August 30, 2010
Stay connected with mortgage market conditions and rates through Toronto mortgage broker Christopher Molder's video blog.
Toronto Mortgage Update: The consequences of not paying property taxes are not well appreciated. In my last blog entry I explained the term judicial sale
and highlighted that this legal process is a great opportunity to
acquire undervauled properties in cottage country. More often than not
the cause is the non-payment of property taxes...more
Toronto Mortgage Update:
In my last post I wrote about an astute investor who exploited the opportunity of a Judicial Sale when he bought a unique, mixed-use property, for a bargain price of under $100,000. Such opportunities come up frequently but are missed by most people because they don’t know where to look specifically. In addition, the term judicial sale is not part of the everyday vocabulary and opportunities are missed.
The term judicial sale is a legal notice informing the public of an intended sale of a property to the highest bidder, in an auction environment by a sheriff...more
Toronto Mortgage Update: Purchasing a jail, fire-hall, dancehall and town-hall all rolled up into one doesn't happen every day. It’s also highly unlikely for a Bank to finance a property characterized by such a strange combination of features.
Strange as it is, that’s exactly what one of our clients purchased where we provided the mortgage financing.
The purchase is even more remarkable when you consider that the jail, fire-hall, town-hall and dancehall are joined as one property, on one deed...more
Toronto Mortgage Update: It appears as if the mortgage rate market has stabilized after the bank of Canada’s decision to increase the prime rate earlier this month. While rates aren’t as low as the begining of 2010, mortgage interest rates still remain low historically speaking...more
Toronto Mortgage Update: Following the Bank of Canada’s recent June 01 interest rate announcement, we weren’t too sure in which direction the fixed rate market would move. Mortgage lenders responded by lowering their fixed rate mortgage rates. They also increased the spread on the 5 year variable rate mortgage from P-0.50 to P-.60 giving an effective rate of 1.90% based on the new prime rate of 2.50%...more
Toronto Mortgage Update: On June 01, 2010, The Bank of Canada announced that it was raising the prime rate by one-quarter of a percent. Canada's economy is growing faster than expected along with inflation. But uncertainty about Europe's debt crisis will affect how quickly interest rates can rise....more
Toronto Mortgage Update: As a Toronto mortgage broker working with home buyers, I'm often asked: "Do I need to pay for the CMHC (Canada Mortgage & Housing Corporation) insurance?" If you're purchasing with less than a 20% downpayment, the short answer is "yes".
I understand, as a Toronto homebuyer myself, the premium paid up front for the benefit of a mortgage lender seems unfair. While the couple of thousand dollar ...more
Toronto Mortgage Update: It looks like the days of fixed interest rates below 4% may draw to a close this week. One by one lenders have been announcing increases to their fixed rate mortgages today. The 5 year fixed is jumping 0.60% from 3.89% to 4.49%. Unlike the 3 previous occasions that we have sent out interest rate alerts, we feel that this time is different because the economic fundamentals causing the rate hike are much stronger...more
Toronto Mortgage Update: Private mortgages are a special and interesting type of mortgage option that most people are not too familiar with. The basic definition of a private mortgage is a mortgage contract in which the lender is not a registered financial institution but may be a friend, family member or individual investor...more
Toronto Mortgage Update: March, 17, 2010. Merix Financial is leading the way with their 3 year variable rate mortgage. Borrowers can now take advantage of Prime minus 0.50 giving you an effective rate of 1.75%!...more
Toronto Mortgage Update: March 16, 2010. Fixed vs variable rate mortgages. The train is on the track Toronto! Maybe when you were a kid you stood on the train tracks peering into the distance waiting for the coming. Suddenly you see a single light suspended in mid air. A massive train hurdling towards you sent your heart racing. It was the ultimate game of chicken. How long could your nerves last before you had to step off those tracks and into safety? While mortgages are nowhere near as exciting as that childhood thrill, we can draw a parallel to the game of chicken and staying in a variable rate mortgage today...more
Toronto Mortgage Update: March 03, 2010. The Bank of Canada met this morning, March 03, 2010, and announced they would keep the prime rate at the current historical low. What does this mean to you and should you lock in?...more
