September 28, 2016

Teasers

CS_teasers_purchase

Purchase

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CS_teasers_first-time

First Time Homebuyers

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CS_teasers_new-to-canada

New to Canada Program

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CS_teasers_invest-prop

Investment Properties

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CS_teasers_mort-refin

Mortgage Refinancing

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CS_teasers_debt-con

Debt Consolidation

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CS_teasers_self

Self-Employed Individuals

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CS_teasers_faq

FAQ

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Blog

Interest Rate Increase January 2017?

Sep 27, 2016

In a previous blog, we talked about the potential of interest rates rising due to revised capital guidelines by OSFI (Ontario of the Superintendent of Financial Institutions).  Now OSFI wants mortgage default insurers to put more money between themselves and taxpayers, especially for mortgages they insure in riskier cities. The new rules will force government-backed insurers to bolster their capital on mortgages in certain areas.  Effective January 1, 2017, this could make mortgages more expensive for insurers and consumers alike. “When house prices are high relative to borrower incomes, the new framework will require that more capital be set aside,” said Superintendent Jeremy Rudin….

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Wells Fargo Fiasco

Sep 20, 2016

Have you heard the latest about Wells Fargo?  Well, in 2011 Wells Fargo was forced to pay $85 million in fines for selling higher interest rate mortgages to customers who qualified for lower rates and falsifying loan applications in the process. Not 5 years later, Well Fargo finds itself faced with a strikingly similar scandal to the tune of $185 million in fines for opening deposit accounts and transferring funds without customers’ consent. This calls for deeper investigations, increased regulation of the banking industry and questions around how such unethical behaviour might become the norm of acceptable behaviour across an entire organization.  What the…

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New Rules For Banks Capital Requirements

Sep 14, 2016

One of my passions is to educate my clients on the mortgage process, provide options and keep them informed of what is happening in the mortgage industry.  In light of this, I found this particular article important in gaining understanding in the never ending saga of “where are interest rates heading.”  OSFI (Ontario of the Superintendent of Financial Institutions) which is Canada’a banking regulator has released revised capital guidelines for mortgage lenders. What does this mean?  We have been hearing about the crash of the housing market for years, however with the recent out of control escalation in the market, concerns may be…

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