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RATE WATCH: January 2018 Bank of Canada Interest Rate Decision

January 17th, 2018


Bank of Canada increases overnight rate target to 1.25 per cent.

The Bank of Canada led by Governor Stephen Poloz increased the benchmark overnight rate to 1.25 percent. This is the highest since the global recession in 2008 and their 3rd hike since July. 
 
To read the full press release directly from the Bank of Canada click here.

The BoC concluded their press release with the following reg ...

How We Used A Private 2nd Home Equity Loan To Finance A Purchase Plus Improvements

January 14th, 2018
The following post is a exerpt from my personal private mortgage blog www.sonofabroker.com

In the Case Study I use the example of James a client we recently worked with. James was in the processes of buying a new home in Oshawa Ontario that needed some reno work to bring it up to date. Due to some past issues with his credit repayments we could only secure a mortgage up to 75% of the value of ...

October 2017 Rate Watch: Bank of Canada Prime Rate Decision

October 25th, 2017

Rate Watch: October 2017 Bank of Canada maintains overnight rate target at 1 per cent.

Cautious optimism is the best way to describe the Bank of Canada's latest take on the Canadian economy.

Optimism due to indicators that the Canadian economy is reaching it's full potential. Caution because of uncertainty relating to how a more protectionist U.S could dramatically impact Canadian exports t ...

How the B20 changes will impact your mortgage qualification

October 20th, 2017
Greek philosopher Heraclitus mused that the only constant is change when he observed the cosmos. Despite all the hype I guess Canadian real estate hasn't escaped the pull of our universe yet!

As you've probably heard by now the Office of the Superintendent of Financial Institutions (OSFI) has introduced "the cherry on top" of a long series of mortgage rule tweaks

The bottom line for ...

Private Mortgages in Ontario

January 30th, 2013
Check it out! New release of private mortgage Ontario website at www.hansamortgages.ca/PrivateMortgages.

It's a spin off of this site but with a focus on private mortgage money.

A leading source of private mortgage money in Ontario, Hansa Mortgages specializes in lending to borrowers turned down by their bank and other lending institutions.

Hansa Mortgages recognizes that life has setbacks. An ...

Toronto Real Estate Bubble In 2012

February 3rd, 2012
Playing soccer and talking about the Canadian housing market is an odd way to gain some insights into the direction of real estate. But that's exactly what happened when I attended The Mortgage Centre's annual conference in sunny Punta Cana. On my team, chief economist of CIBC, Avery Shenfeld, up against some seriously talented kids from Brazil. After taking a heavy loss, we walke ...

Building Successful Client Relationships With Our CRM

January 25th, 2012

Customer Relationship Management (CRM) For Mortgage Brokers

In a contest held by our CRM
(customer relationship management) provider, GoMax, we were awarded top honours for our approach towards building successful relationships with our clients. It all stems from the idea of a piggy bank, something that our company president, Arnold Molder, envisioned as  a symbol that not only represent ...

BMO 2.99% 5 Year Fixed: A No Frills Mortgage

January 20th, 2012
Since BMO moved to lower the fixed 5 year mortgage rate to 2.99% there has been a flurry of talk and excitment. It is a great rate and represents an all time low for mortgage rates in Canada. While it is the lowest rate does it represent the best mortgage? Maybe not when factoring in all of the restrictions attached to the rate. Christopher Molder, Toronto mortgage broker, takes a ...

What's A Cash Back Mortgage

January 9th, 2012
A cashback mortgage means the lender will give you 5% back as cash. This mortgage product is usually targeted towards first time homebuyers. So, if a first time buyers borrows $100,000 the lender will give the borrower an additional $5,000. Sounds like a great offer, but is it? Factoring in the higher interest rates attached to a cashback mortgage and running the numbers makes this ...

Toronto Mortgage Broker Welcomes 2012

January 5th, 2012

Christopher - 23.jpegToronto mortgage broker Christopher Molder welcomes the year with his first blog post reflecting on the past and looking forward to 2012.

There’s seldom an occasion during which we can sit back and contemplate time gone by and time to come. Thank goodness we mark each calendar year with a definite beginning and end. This gives us a formal opportunity to reflect, reset and plan ahead.

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