4 Oct

Planning to Purchase a Home or Refinance anytime soon?

General

Posted by: Sally Smith

The Canadian Government announced new mortgage lending requirements that will affect a number of families. The measures announced by Finance Minister Morneau are more far reaching than anything considered to date and could well have quite a significant impact.   Measures Affecting All Homebuyers Effective October 17, 2016 Broadened Mortgage Rate Stress Test If you […]

Read More
19 Apr

Are banks trapping you in your mortgage- without you knowing?

General

Posted by: Sally Smith

Recently there has been a lot of talk about multi purpose mortgages or collateral mortgages. While they can be called many different names it is basically when a bank or credit union registers a charge on your property for a larger amount then the mortgage, as a “running charge”. They sell it to the consumer […]

Read More
14 Mar

Spring has Sprung!!!

General

Posted by: Sally Smith

  We all spend our time spring cleaning our house, but do you ever spend time spring cleaning your finances? Now that spring has sprung, it’s a perfect time for your annual mortgage health check-up. If you make time for a quick review each spring, it may yield you some fruitful financial savings! Your 2014 […]

Read More
28 Nov

What is a Qualifying Rate?

General

Posted by: Sally Smith

You might here lenders or brokers use the term qualifying rate. The first question that comes after this statement is usually, is that not the same as my actual rate? The simple answer is no. Let me explain! The qualifying rate can be expressed in 2 different ways: 1)    The benchmark rate set by the […]

Read More
18 Nov

Specialist or Generalist? You Choose!

General

Posted by: Sally Smith

As banks and credit unions move their work force towards more of a generalist role, how much educated knowledge are you receiving from these individuals? Would you rather deal with someone with a fancy made up name or a Financial Planner with a professional designation, when it comes to your investment portfolio? Why would you […]

Read More