Vacation Properties and Second Homes

July 13, 2010  
Filed under Mortgage Options, Purchasing

Are you considering purchasing a quaint little lake cottage or perhaps a hunter’s cabin in the woods? Or maybe you are exploring the benefits of purchasing a house for your kids heading off to the Universities of Calgary or Edmonton? ‘Tis the season, so it’s a great time to explore the various options for mortgage financing when it comes to buying a second, non-rental property. Read more

Thinking About Co-signing a Loan?

May 25, 2010  
Filed under Housing Market

Are you considering co-signing a mortgage loan? There are many reasons to co-sign such as if the other party has insufficient credit, a lack of cash flow or if they already have too much debt. However, be aware of the risks. If the person you are co-signing for defaults on the loan, and the bank forecloses, you will be left responsible for the mortgage. Read more

The Key to Getting the Right Mortgage for You

July 27, 2009  
Filed under Mortgage Broker, Mortgage Options, Mortgage Rates

Whether you are a first time home owner looking for a mortgage lender or are in the process of renewing your mortgage, it’s always good to shop around. Read more

Interest Rates Beginning to Stabilize

June 22, 2009  
Filed under Mortgage Rates

Over the last few weeks Home Mortgages Calgary has seen some significant increases in many of our lenders’ rates. This, of course, is attributable to the fact that bond yields have also been increasing. Read more

Bond Yields are Rising – What this Means for You

This just in from one of Home Mortgages Calgary’s lenders: Due to a new 5 year rate of 4.09%, Canadian 5 year bond yields are up 14bps to 2.71. It was only a month ago that 5 year bond yields were at 2.07. Read more

Variable Rates on Their Way Down

Over the last few weeks one of Home Mortgages Calgary’s mortgage lenders dropped their rates on their Adjustable Rate Mortgage product to prime plus 0.4%. This deal is not as sweet as the prime minus 0.9% rates of yesteryear however, at least we see that conditions are improving. Read more

CMHC Predicts Housing to Bounce Back in 2010

June 1, 2009  
Filed under Housing Market, Purchasing

In a recent article by the financial post, the Canada Mortgage and Housing Corporation (CMHC) said that the Canadian housing market is expected to rebound as of next year. Read more

The Long-term Implications of a ‘No-Frills’ Mortgage

In the long run, ‘no frills’ mortgage products might not be as convenient as they seem to be right now. At the moment, mortgage brokers are proffering products that offer people a lower rate at the cost of benefits associated with lump sum payments, portability and assumability. Read more

Mid-May Mortgage Rate Update

May 19, 2009  
Filed under Mortgage Rates

In the past few months, we’ve seen mortgage rates continue to decrease, albeit very slowly. That trend could be short-lived, however, since fixed rates are tired to bond yields – and bond yields are starting to increase. Because lenders still need to make a profit, their rates have to rise as bonds’ rates do. Therefore, if you’re looking to purchase or refinance, it’s a good idea to do it soon. Read more

Breaking Your Mortgage (and the Consequences of Doing So)

April 9, 2009  
Filed under Mortgage Options

Sometimes, you might run into a circumstance where you need (or want) to break your mortgage. Breaking your mortgage means that you pay off the outstanding mortgage balance in full prior to the end of your term (for example, paying off your five-year fixed-rate closed mortgage three years into the term). This incurs a pre-payment penalty, which is either the equivalent of three months’ interest payments or the interest rate differential. The lender usually charges the greater of the two. Read more

Benefits of Having Local Mortgage Advice

March 31, 2009  
Filed under Mortgage Broker

It’s the information and technology age, and more and more companies are creating an amazing internet presence for themselves. Calgary mortgage brokers are no exception. While for many people it’s convenient to complete the entire mortgage process online with a broker that may be in Ontario while they’re in Alberta, other mortgage borrowers still prefer a more traditional approach, and like to meet a local broker face-to-face. This latter approach has its advantages. Read more

First Time Buyer Tips

March 30, 2009  
Filed under Housing Market

If you’re looking at purchasing your first home in the near future, the task of getting a Calgary mortgage can be somewhat daunting. Here are some tips to make the process a little easier! Read more

February and Early March Rate Update

March 10, 2009  
Filed under Mortgage Rates

The tough economic times are continuing, and so are the mortgage rate decreases. On March 3rd we saw the Bank of Canada lower its overnight lending rate by another 0.5%, bringing it to a new all time low of 0.5%. We can expect most mortgage lenders to pass the full 0.5% decrease on in their prime rates, as well. Read more

Calgary Mortgage Humor

March 5, 2009  
Filed under Housing Market

Every once in a while there are chain emails floating around that are worth sharing with everyone. This particular one is an interesting and humorous commentary on the current housing market in Calgary and across most of Alberta. Read more

First Time Home Buyers Benefit from New Federal Budget

February 26, 2009  
Filed under Housing Market

First time Calgary home buyers were not forgotten in the Canadian Federal budget this year, and in fact are benefiting in more ways than one from the changes that were made. Read more

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