Toronto mortgage rate update for week of February 22, 2010. Mortgage interest rates in Canada haven't changed in the past two weeks. The bond yields have remained relatively stable and low which is good if you are in the mortgage market. Currently, there is little pressure on rates so we should enjoy these current low interest rates for a while. Currently I can offer the following...more ...

On Tuesday, February 16, 2010, Jim Flaherty, Minister of Finance, announced reforms to the rules governing mortgage qualification. The changes affect: 1. the rate used for a borrower to qualify for a mortgage; 2. how much equity can be removed from your home and; 3. downpayment of 20% required on rental properties. Chris Molder, Toronto mortgage broker, goes over the changes in his video blog ...

Many people aren't familiar with this type of mortgage. 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 an individual investor. Why wouldn't a financial institution want to lend? Strict guidelines. A bank in Toronto for example, follows strict guildlines for lending that limit ...

Toronto mortgage interest rates have taken a definite turn. At the beginning of the year, economists were predicting a rate increase. Now, it appears as if interest rates are set to stay low for a while longer...More

When arranging a Toronto mortgage on your home you are entering into a contract with the lender. So what does term mean in my mortgage contract? Term refers to the length of time that the mortgage contract is effective for...More

In a complete shift in the attitude and expectations of last week, Merix Financial, one of our lender partners, announced several competitive rate cuts. Exciting news! I'm happy to offer you a fixed 5 year at 3.75% for closings before February 23rd, 2010, or a 3 year variable rate Prime minus 0.30% for an effective rate of 1.95%. The latter must close within 30 days...More

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