1 Land transfer tax. When a home changes hands, many provinces and a few municipalities charge a property transfer tax or title transfer fee. Rates are usually on a scale of 0.5% to 2% of the home’s value and can add thousands to your purchase price. First-time homebuyers qualify for rebates or exemptions in some [...]
1 Get independent advice on your financial options. As independent mortgage brokers and mortgage agents, we’re not tied to any one lender or range of products. Our goal is to help you successfully finance your home or property. We’ll start by getting to know you and your home ownership goals. We’ll make a recommendation, drawing [...]
Why use a Mortgage Broker in Canada? by Gary Bains With the current state of the economy and lowest interest rates in a generation, many people have been trying to get in on some great real estate deals. If you are contemplating the purchase of a property you will really need to consider the services [...]
| Tuesday, 20 July 2010 Broker news © copyright 2010 The Bank of Canada raised its benchmark interest rate by 25 basis points for the second time in two months, even as households and governments in the developed world continue to cut back on spending. The rate is now 0.75 per cent. The bank said [...]
If you've found it a little more difficult to find tenants for your rental properties this year, you're not alone. According to the Canada Mortgage and Housing Corporation, vacancy rates rose to 2.9% in Canada in April, compared to 2.7% a year earlier. While that doesn't sound like much, it should be noted that different [...]
Canadian Mortgage Broker News | Thursday, 8 July 2010 Victoria home prices during the second quarter rose, but the large inventory, particularly for condominiums, is driving prices down, a recent survey has found. If the number of sales continues to stall in the city, along with the rest of the country, prices could level out, [...]
Although there have been a lot of alarm bells going off as Canadian debt levels start toapproach the pre-recession levels of their U.S. counterparts, CIBC believes thespending spree may be coming to an end. In the bank’s recent Household Credit Analysis report, Benjamin Tal states that household credit in Canada has been softening since September [...]
Dianne Nice Globe and Mail Update Published on Monday, Jun. 28, 2010 6:00AM EDT Last updated on Tuesday, Jun. 29, 2010 3:34PM EDT You’ve told your Facebook friends, your banker and your mom: You’ve found the house of your dreams. But have you told your insurance agent? Henry Blumenthal thinks you should, even before you [...]
Many mortgage holders forego certain mortgage features in favour of a lower interest rate. If this is your strategy, and if you’re planning on moving before your mortgage term is up, you may want to make sure portability isn’t one of the features you’re giving up. A portable mortgage is one that allows you to [...]
If Canada's five chartered banks were the only institutions allowed to lend money in the form of mortgages in this country, rates would be sky-high, and the selection of mortgage products would be rather slim. Thankfully, we have non-bank lenders to keep the Big Banks on their toes. While these lenders may not invest the [...]