Mortgage Alliance OAC Mortgages

Banks rolling back mortgage discounts

2012-02-08T11:56:00.001-05:00

Banks rolling back mortgage discounts grant robertson — BANKING REPORTER Globe and Mail Update Published Monday, Feb. 06, 2012 5:03PM ESTLast updated Monday, Feb. 06, 2012 7:43PM ESTThe deep discounts seen in the Canadian mortgage market in recent weeks are beginning to evaporate, as Canadian banks pull back on the historic low rates they rolled out in January.Royal Bank of Canada (

A Lender Talks About Mortgage Brokers

2012-02-06T13:21:00.001-05:00

Working with a Mortgage Broker Today, about 30% of Canadian homeowners arrange their mortgages through mortgage brokers – independent specialists with extensive knowledge of mortgage lenders’ product offerings, their features and benefits, and contacts throughout the lender community to ensure competitive rates. What can a Mortgage Broker do for you?Mortgage

Important Industry Update

2012-02-03T13:47:00.001-05:00

During the past week, there has been extensive media coverage and announcements affecting the mortgage industry. OSFI's lender audits on NIQ (Non Income Qualified) products and news that the government guaranteed mortgage insurance ceiling is approaching its limit directly affect the type of mortgage products that can be offered and the way in which mortgages are funded. CAAMP is actively

First Line Closes door on Stated Income

2012-02-01T11:51:00.000-05:00

Time may be ticking for some of the current lending policies with CMHC and the “Banks”.. Yesterday Firstline officially dropped the hammer on their “Stated Income” and “New Immigrant” programs. In English, you now have to borrow based on your actual declared income, (Average of the last two years, line 150 on your notice of assessments), and must have a 2 year Canadian Credit score if you

Variable Discounts Turn to Premiums

2011-12-01T11:46:00.001-05:00

December 01, 2011Variable Discounts Turn to PremiumsIn the last few days, RBC and Scotiabank have eliminated their advertised variable-rate discounts.They’re now promoting variable mortgages at prime + 0.10%, twenty basis points more than their previous “special offers.”Prime + 0.10% (i.e.,

Canada's economy surges ahead

2011-12-01T11:34:00.001-05:00

Canada's economy surges ahead Christine Dobby, Financial PostWednesday, November 30, 2011 The Canadian economy was not as bad as first feared in the third quarter. In fact, it was much better than almost anyone had hoped Read more » You received this email because your friend Lisette Amalfi thought you would be interested in the article linked above.

Calculating Interest Penalties

2011-11-30T11:05:00.001-05:00

November 28, 2011Penalty Calculations—The Missing PiecesWhen a Certified Financial Planner (CFP) can’t figure out how to calculate his mortgage penalty, it’s got to be really tough for Joe Borrower.Globe & Mail columnist Ted Rechtshaffen, a CFP, recently wrote about this very topic. He says

November 22, 2011 - Residential Market Update

2011-11-23T13:07:00.001-05:00

Have a great day!! Lisette Amalfi, AMP Residential Market Update Canada Mortgage Bonds Canada Housing 5 yr : 1.75% Market Commentary Five year bond yields have been relatively stable over the last week and generally positive news out of North America clashes with sovereign debt concerns in the eurozone.The positive North American data includes better than expected Retail

October 2011: Monthly Indicator Recap

2011-11-23T13:05:00.000-05:00

MONTHLY INDICATOR RECAPOCTOBER 2011For mortgage professionals, staying ahead of the curve is essential. In a constantly changing environment, understanding relevant housing data and economic indicators is vital to developing your business while offering the best service to your customers. Each month, Canada Guaranty provides mortgage professionals with a Monthly Indicator Recap, a brief report

Variable or Fixed

2011-11-01T11:53:00.001-04:00

Variable or fixed? It’s no contest Globe and Mail Tue, 01 Nov 2011 Rob Carrick Numbers from mortgage brokers show that variable-rate mortgages had about one-third of the market as of this past spring. Fixed-rate mortgage is now your best bet: Not only has the prime rate dipped, but banks have snuffed out variable-rate discounts. Go fixed rate if you’re arranging or renewing a mortgage, and

Bank of Canada leaves rates unchanged - TD Economics

2011-10-25T14:50:00.002-04:00

TD Economics Bank of Canada leaves rates unchanged, dovish tone maintainedThe Bank of Canada held its benchmark overnight rate at 1.00% today, as was widely expected. Its communiqué was broadly consistent with the diminished outlook seen in September’s interest rate announcement and silences any debate about rate cuts. The Bank reiterated that that several downside risks in the last MPR have

TD Weekly Bottom Line

2011-10-24T10:08:00.001-04:00

HIGHLIGHTS OF THE WEEK United States • European leaders are meeting in Brussels this weekend to try and come up with a plan to restore market confidence and secure the future of the common currency. But those hoping for a grand bargain are likely to be disappointed.• The real challenge is deeper than European policymakers have publicly acknowledged: how do

October 18, 2011 - Residential Market Update

2011-10-18T11:49:00.001-04:00

Ginette NasonAccount ManagerGolden HorseshoeT: 905.630.2794E: ginette.nason@firstnational.ca Residential Market Update Canada Mortgage Bonds Our Partners Canada Housing 5 yr : 1.88% Market Commentary Bond yields today are roughly where they were a week ago but there has been plenty of volatility over the intervening period.Last week yields were pushed higher by in-line or

National Housing Data Release

2011-10-18T11:00:00.002-04:00

TD Economics Data Release: See-saw pattern in sales and price activity continuesSeasonally adjusted, month-over-month resale housing activity increased in September by 2.7%. So far in 2011, sales hit their peak in January. If we use this as a benchmark, sales are down by 2.6% in September. Listings moved up M/M by 0.2% in September. The increase in sales outweighed the greater number of

The Incredibly Shrinking Variable Discount

2011-10-18T10:57:00.002-04:00

October 17, 2011The Incredibly Shrinking Variable DiscountJust weeks ago you could find variable-rate mortgages at prime – 0.80% (P-.80%) or better. Consumers thought they were here to stay, but the tables turned…fast.Economic troubles and lender profit motives have shrunken variable

The European Debt Crisis could save you money on your mortgage

2011-10-18T10:54:00.002-04:00

The European debt crisis could save you money on your mortgage! This European sovereign debt crisis could lead to substantial interest savings on your existing mortgage. The liquidity concerns that the European banks face (similar to the US Banks in the fall of 2008) has created a unique situation, where short term money (variable rate mortgages) become more expensive and where longer term

I think we are doing it right for an important cause!

2011-10-14T13:44:00.000-04:00

The MAC Rally Of Hope (MAC = Mortgage Alliance Company) was the 3rd highest fund raising event for the Canadian Breast Cancer Foundation in 2010. Amazing the number of people who supported our Rally and made a difference for the Breast Cancer Foundation. I think we are doing it right.

Broker news | Mortgage & Finance Industry News for the Mortgage Broker Professional

2011-10-13T14:20:00.000-04:00

We got GREAT coverage in this article which talks about MAC's comittment to growing market share and how we use our brand startegy to help fuel it while simultaneously promoting our Mortgage Alliance Professionals. you can read the story beow or click on the link to view it from the e-magazinewww.mortgagebrokernews.ca/news/breaking-news/ad-increase-bolsters-networks-book/107124

First National's Market Update

2011-10-12T10:00:00.002-04:00

Rates in the bond market ended last week considerably higher than where they opened, as optimism in the second half of the week outweighed some of the pessimism that presented itself on Monday and Tuesday. All told, the five year market moved about 15bps higher over the past week. In the early part of the week, concerns about a Greek default and subsequent contagion remained the dominant theme

Paying the Piper

2011-09-28T15:42:00.002-04:00

PERSPECTIVE By Craig Alexander, Senior Vice President & Chief Economist, TD Economics TD Bank Group TD Economics | www.td.com/economics September 28, 2011 PAYING THE PIPERFinancial market volatility looks likely to remain the dominant theme in the coming months, and the risks of a renewed recession in the advanced world have intensified. Europe’s fiscal crisis is already an economic crisis, and

Canadiana set to grow its book with 'enhanced' Macquarie deal - Mortgage Broker News

2011-06-22T13:50:00.000-04:00

Canadiana set to grow its book with 'enhanced' Macquarie deal - Mortgage Broker News

A friend has sent you this CMHC link.

2011-06-22T12:10:00.001-04:00

Your friend at this address: lamalfi@tmacc.com has sent you a link to a page on the CMHC Web site. To view the page, click the link below or copy and paste it into the address bar in your browser.http://www.cmhc.ca/en/hoficlincl/moloin/cosu/index.cfm?WT.mc_id=BMLI1101I;CMP01&WT.mc_ev=BannerClick&%20WT.dl=20 CMHC 2011 Consumer Survey-----------------------------------------------------------------

Brokers react to Central Bank rate - Mortgage Broker News

2011-05-31T12:27:00.000-04:00

Brokers react to Central Bank rate - Mortgage Broker News

Competition in the Canadian Mortgage Market

2011-03-26T14:49:00.001-04:00

http://www.bankofcanada.ca/en/review/winter10-11/allen.pdf Lisette Amalfi, AMPMortgage Broker/OwnerMortgage Alliance OAC Mortgages Inc.Brokerage License Number 10928

Federal Budget Highlights

2011-03-23T10:06:00.001-04:00

HIGHLIGHTS • The federal budget was tabled earlier today. With all three opposition parties indicating that they intend to vote against the budget, the government will fall on the budget. Under this scenario, Canada will have a federal election this Spring unless there is a change of course. • In the meantime, the budget reflects the economic and fiscal policy

Mortgages Changes Today - What effect will they have - PropertyWire.ca

2011-03-18T11:53:00.001-04:00

What affect will the mortgage rule changes have on the property market in Canada? Friday, 18 March 2011 08:04 Editorial Team Tougher mortgage rules starting today are getting a failing grade by mortgage industry professionals who say the federal government effectively dropped the ball in a half-hearted attempt to deal with rising consumer debt.If Ottawa were

New Recession?

2011-03-18T11:18:00.000-04:00

Recent Global Events Cause Economic Concern But Should Not Lead To A New Recession: CIBC World MarketsWritten by NewsroomThursday, 17 March 2011 12:55The recent global events in Japan & the Middle East have undoubtedly given rise for concernabout the strength of the global economy, however, according to the latest GPS Monthly reportfrom CIBC World Markets Inc.,

Who will be the right predictor?

2011-03-11T10:36:00.001-05:00

Why the BoC won’t raise rates until OctoberCentral bank may still hike rates before summerBelow are two recent articles stating opposite points of view. · TSX -246.13 to 13,638.58(Reuters) as disappointing trade data from China raised worries about the strength of the world's second-largest economy and sent prices for oil and metals sliding. China

Report calls for increased mortgage qualification standards

2011-03-03T17:04:00.001-05:00

Report calls for increased mortgage qualification standards| Thursday, 3 March 2011 A report by a six-person task force recommends that banks take more responsibility for improving Canadians’ ability to manage and repay debt, while also suggesting the federal government introduce more stringent standards for mortgage qualification. Action Canada’s Task Force on

Bank of Canada Leaves Overnight Rate Unchanged

2011-03-01T12:45:00.002-05:00

Bank of Canada Announcement - Rates Remain UnchangedWritten by NewsroomTuesday, 01 March 2011 10:05Would they or wouldn’t they? This was the question on many Canadian lips for the last couple of weeks. There has been much talk that a rise in interest rates in inevitable. That may be so—but not today.The Bank of Canada “is maintaining its target for the overnight rate at 1 per cent. The Bank Rate

Competition in the Canadian Mortgage Market

2011-02-22T15:58:00.003-05:00

• The Canadian mortgage market has changedsubstantially in the past 20 years: trust companieshave been taken over by banks; small virtual bankshave offered new mortgage products; and brokersnow play an important role in matching borrowersand lenders.• The changing structure and practices of theCanadian mortgage market have implications forcompetition authorities and for financial systemregulation

CIBC's Comments on Consumer Debt

2011-01-28T14:27:00.001-05:00

National News CIBC Reports Household Debt Levels At Their Lowest Since 2001 National NewsCIBC Reports Household Debt Levels At Their Lowest Since 2001 .Friday, 28 January 2011 10:30 It seems that all the messaging about slowing down with the accumulation of debt is resonating with Canadians.According to a new report released by CIBC, Canadian household debt levels are at their lowest levels

Business as Usual

2011-01-28T14:15:00.002-05:00

National News 'Business As Usual' After Mortgage Rule Changes Announced For This March National News'Business As Usual' After Mortgage Rule Changes Announced For This March Thursday, 27 January 2011 19:13 David Hatton, Editorial Team Daniel Bloch finally heard details of federal Finance Minister Jim Flaherty’s mortgage rule changes when he was watching the evening news.“I was a bit surprised

AMERICAN MORTGAGE BROKERS HAVE NEGATIVE IMPACT ON CANADIAN

2011-01-27T16:34:00.000-05:00

FOR IMMEDIATE RELEASEAMERICAN MORTGAGE BROKERS HAVE NEGATIVE IMPACT ON CANADIANCOUNTERPARTSMortgage Brokers Given A Voice: Survey Finds That Negative Reports about AmericanMortgage Brokers Has a Harmful Impact on Canadian Mortgage BrokersCanada’s mortgage brokers are voicing concerns that negative press in the United States ishurting their business, and their reputations. The findings are a

Home Values - Will they go up or down?

2011-01-25T09:52:00.003-05:00

Some interesting factsThe national average home price in December was $344,551 — up two per cent from December 2009. The Canadian Press 01/14/2011 Many experts are advising that Canadian home prices are overvalued by 14%. “the average price of a home has risen by almost 23 per cent since the cyclical low of January 2009, and about 7 per cent above recession levels. As a result, at least 1.5

Interested in becoming a Mortgage Agent?

2011-01-03T11:57:00.002-05:00

Free Information NightThursday January 13th 2011 Limited Seating! Reserve your spot today!Find out what you need to know about becoming a licensed Mortgage AgentIs this the career for you?What are the costs?What should I expect make?FAQ'sRSVP today to reserve your spot. Mortgage Alliance Oac MortgagesFSCO Licence #10928905-529-1199

Right Mortgage Sales hit 3 Billion!

2010-12-29T11:19:00.004-05:00

36 months later, Right Mortgage(R) Sales Hit $3 Billion!Mortgage Alliance Professionals have a lot to celebrate these days including the recent launch of their MortgageBOSS(TM) Offline Application, their National Brand campaign that has Canadians literally singing “Mortgage Alliance” and now a landmark achievement with their Right Mortgage(R) sales of approx. $3 Billion in mortgage

Mortgage brokers handling growing number of deals

2010-12-29T10:25:00.000-05:00

Mortgage brokers handling growing number of dealsBY JAMES PASTERNAK, FINANCIAL POSTWhen Hamilton, Ont., residents and partners Kathy Funke and Grant Bivol wanted to purchase an investment residential property in 2000, they did what most Canadians do when it’s time to borrow. They headed to the bank branches in their area.They shopped around a bit, made lots of phone calls, compared mortgage

Housing Starts November CMHC

2010-12-08T10:58:00.005-05:00

FOR IMMEDIATE RELEASECMHC SAYS NEW HOME STARTS INCREASE IN HAMILTONTORONTO, December 8, 2010 – Preliminary data released today by CMHC show that therewere 272 new home starts last month in the Hamilton Census Metropolitan Area (CMA). More startsof single-detached homes, townhouses and apartments in Burlington boosted total starts and offsetthe lower-than-average number of monthly starts in the

Bank of Canada holds overnight rate - Next scheduled date January 18th, 2011 - Merry Christmas Canada

2010-12-07T10:35:00.002-05:00

FOR IMMEDIATE RELEASE7 December 2010 CONTACT: Jeremy Harrison613 782-8782 --------------------------------------------------------------------------------Bank of Canada maintains overnight rate target at 1 per cent OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit

MortgageBOSS V2 - One entry technology - AMAZING TOOL

2010-12-07T10:28:00.001-05:00

For immediate release - December 3rdMortgage Alliance/MPH launches the newest version of theindustry’s most comprehensive technology specifically formortgage broker originators.MortgageBOSS™!! (Broker Origination Software Solution)This week marks the launch of the most comprehensive proprietary broker softwaresystem in the mortgage broker industry. MortgageBOSS was commissioned byMortgage

Consumers Design $3 Billion Of Personalized Mortgages

2010-11-24T13:47:00.000-05:00

November 18, 2010Consumers Design $3 Billion Of Personalized MortgagesMortgage Alliance has sold $3 billion worth of its exclusive RightMortgage in the last 36 months.RightMortgage is unique because consumers can pick and choose the features they want. Each feature they select has a direct impact on the interest rate.The features affecting the rate include:•Term (1-year, 3-year, or 5-year fixed)•

BMO and the Housing Bubble

2010-11-15T10:14:00.000-05:00

Housing: No Bubble, Just Pricey, Says BMO Wednesday, 10 November 2010 10:33 Written by Rob & Melanie McLister www.canadianmortgagetrends.com 0 Comments Claims that Canada’s housing market is ready to pop are exaggerated, say economists at BMO Nesbitt Burns.Instead, they say the market can more realistically be labelled “moderately overvalued” based upon a comparison of house prices with personal

Housing Bubble??

2010-11-11T09:47:00.001-05:00

.Housing: No Bubble, Just Pricey, Says BMO Wednesday, 10 November 2010 10:33 Written by Rob & Melanie McLister www.canadianmortgagetrends.com Claims that Canada’s housing market is ready to pop are exaggerated, say economists at BMO Nesbitt Burns.Instead, they say the market can more realistically be labelled “moderately overvalued” based upon a comparison of house prices with personal income.

Canadian Mortgage Broker News - Canadian home prices post modest gain: index

2010-10-28T12:21:00.000-04:00

Canadian Mortgage Broker News - Canadian home prices post modest gain: index

Canadian Mortgage Broker News - Canadian mortgage broker industry strong for the future: Deloitte

2010-10-28T12:18:00.000-04:00

Canadian Mortgage Broker News - Canadian mortgage broker industry strong for the future: Deloitte

Media Release - MAC Offline Application Launch

2010-10-27T12:00:00.002-04:00

October 2010 – For Immediate ReleaseMortgage Alliance transforms the mortgage application process with thelaunch of the new Offline Application featuring Lender Logic.Mortgage Alliance is pleased to announce the launch of its newest compliment to the MortgageBOSS suite of products for mortgage professionals-the Offline Application with Lender Logic called “The Professor”, that includes several

Understanding Collateral Mortgages - John Gabriel Director of Education and Compliance Mortgage Alliance

2010-10-26T11:31:00.001-04:00

Recently, TD bank has made changes to the registering of their mortgages. Effective October 18th, all new TD mortgages will be registered as collateral mortgages instead of as conventional mortgages. These changes got me thinking so I thought I would share the following information with the network. Firstly, the definition of a collateral mortgage: It’s a loan attached to a promissory note and

2010-10-25T09:55:00.000-04:00

Real estate association members ratify deal giving consumers wider choiceTHE CANADIAN PRESSST. JOHN’S, N.L. — Delegates from Canada’s 101 local real estate boards Sunday ratified a deal worked out by the federal Competition Bureau and the real-estate industry.It would allow consumers to choose what services they want from their agent when selling their homes, and to pay for only those

July Stats are down

2010-08-18T13:16:00.002-04:00

Yesterday, CREA, (Canadian Real Estate Association), released its stats for the month of July, and as expected the drops in real estate activity are now a reality. There is no shortage of statistics trying to rationalize or explain these drops. But I have to say that I was really impressed with how quickly CREA made the following video available to the public.http://www.youtube.com/watch?v=

Canadian Mortgage Broker News - Dream Achiever

2010-08-18T12:48:00.002-04:00

Mortgage Alliance President Micheal Beckette talks with Canadian Mortgage Broker NewsClick below to see the article.Canadian Mortgage Broker News - Dream Achiever

Housing sector cooling ...

2010-08-10T12:43:00.001-04:00

By REUTERS, , Updated: August 10, 2010 10:19 AMOnce-hot housing sector cooling furtherOnce-hot housing sector cooling furtherBy Ka Yan NgOTTAWA (Reuters) - Canadian home construction fell in July and new home prices rose less than expected in June, further evidence a housing market boom that helped drive the country's recovery from recession is starting to stall.The reports released on Tuesday

Flaherty announces some major changes with CMHC today.

2010-02-16T10:54:00.000-05:00

There really only appears to be 3 changes:Change #1, he has increased the qualifying rate for variable rate mortgages from the current 3 year posted to 5 years…At RBC the previous qualifying rate was 4.15% (3 year posted rate) and it is now 5.39%. An increase of 1.24%Really all that they are doing is trying to stop people getting in over their heads with these ultra low rates, and make sure the

Dave's Email: 02/12/10

2010-02-12T16:38:00.001-05:00

For the last 2 weeks there have been discussions by Jim Flaherty and CMHC to consider making some significant changes to tighten up lending policies. http://www.ctv.ca/generic/generated/static/business/article1463856.htmlThe following information was taken from the above link.Ottawa weighs stricter mortgage rulesTara Perkins and Boyd ErmanOttawa is considering new rules that would force banks to

Habitat for Humanity - Family Selection Committee Hamilton

2010-02-02T16:38:00.004-05:00

Today I received a letter from Habitat for Humanity Family Selection Committee about their homes being built in 2010. These homes will be built in partnership with low income families so that they may work toward home ownership.The purpose of this email is to ask you to display or distribute the attached flyer to individuals whom you believe would be interested in, and who may potentially

Money Is Cheap Today...

2010-02-02T11:34:00.001-05:00

The Bank of Canada is expected to raise its benchmark interest rate in the summer of 2010. The only question remains is how much and how fast. That is only 6 months away and this will have a major impact on all lending rates including mortgages, lines of credit and maybe even credit cards. Now is the time to reexamine all your debts and financial situation. Having a prudent financial mortgage

Resource of the Month...

2010-02-02T11:32:00.000-05:00

Here’s an opportunity to consult with a top-notch Real Estate Company, without any cost or obligation!With another year behind us, this is a perfect time to start thinking about moving into the home of your dreams. Do you know how much your current home is worth? Do you know what similar homes in the area have sold for? These are the kinds of questions you need answers to before you start looking

Dave's Email: 01/29/2010

2010-01-29T16:26:00.000-05:00

Sorry, it has been a long time since my last email, but I felt it was necessary to get some information out before the end of this month.We have seen a very stagnant interest rate market over the last couple of months. As predicted by the Bank of Canada, the Bank Rate remains unchanged at .25%. They would like to increase it….. but the over all condition of our economy is so delicate at the

Bank of Canada Keeps Rates the Same...Again.

2010-01-19T11:11:00.001-05:00

Once again, the Bank of Canada announced it would keep the key interest rate at a record-low 0.25 per cent to achieve its inflation target of two per cent.While the Bank said economic growth in Canada resumed in the third quarter of 2009 and there has been a slightly higher than expected rate of inflation in recent months, it reiterated that the economy is still lagging, particularly due to

RightMortgage Hits $2 Billion Milestone

2009-12-24T10:35:00.001-05:00

December 18, 2009RightMortgage Hits $2 billion MilestoneMortgage Alliance, one of Canada’s biggest brokerage firms, launched its private-labelled RightMortgage two years ago. Since then, the RightMortgage has racked up $2 billion in sales—a solid number given that it’s available only through Mortgage Alliance agents.The RightMortgage’s popularity is based on customization. It lets borrowers

REFI Plus Improvements May Solve your Limited Equity Problem

2009-11-12T15:45:00.004-05:00

There has been a noticeable trend that has appeared over the last couple of months, with some of my clients looking to refinance their homes. Not enough equity to roll all of their debts, and/or to pay for some renovations to take advantage of the “Renovation Tax Credit”, and or rebates through the “Energy Audits”. Time and time again, we take a deal to approval stage, to only have it undone by

BOO! HST is coming! If you’re thinking of buying a new home in Ontario or BC, now is the time to do it.

2009-10-26T16:47:00.000-04:00

As of July 1, 2010, the BC and Ontario governments will implement a Harmonized Sales Tax (HST). The HST combines the existing GST (5%) with the PST (7% in BC and 8% in Ontario) to create a single tax that applies to more products than the PST alone. While there may be certain advantages to an HST, its effect on real estate will be dramatic and negative.Currently, new home purchases are subject to

Dave's Email: 10/20/09

2009-10-20T16:18:00.001-04:00

http://www.theglobeandmail.com/report-on-business/why-interest-rates-will-remain-low/article1330601/Today the Bank of Canada holds steady and does not raise the Bank Rate.The Canadian dollar was down 1.70 cents to 95.45 cents (U.S.) by midmorning after the Bank of Canada' rate announcement.The Bank of Canada now believes the economy will not return to full capacity until the third quarter of 2011

Dave's email: 10/13/09

2009-10-13T16:39:00.001-04:00

RBC raises residential fixed-rate mortgage rates by up to 0.35 percentage points TORONTO - Royal Bank (TSX:RY) is raising its residential mortgage rates for fixed rate mortgages by up to 0.35 percentage points effective Saturday.The bank said Friday its posted rate for a five-year closed mortgage is going up 0.35 percentage points to 5.84 per cent, while the rate for a one-year closed is going up

Macquarie Financial Online Access

2009-10-13T10:48:00.002-04:00

Great News! Macquarie Financial (RightMortgage), has now made it that much easier for you to manage your mortgage. Macquarie has recently launched online access for all of their existing clients. With this site, you now have access to easy-to-use tools and important information that make it possible to take control of your mortgage from the comfort of your home.Simply go to http://

Prime -.05% still Leading the Pack

2009-09-30T15:25:00.000-04:00

MORTGAGE PRODUCT HIGHLIGHTSPrime -.05% Variable is still leading the pack. Last week, I had 6 TD clients contact me about their Prime +1.00% increase effective Nov 16th.5 year fixed at 3.79, (Quick close rate, must close in 30 days)3.84% for 5 year fixed, for closing dates up to January 30 2010. Any December/January renewals, you should call me to get your future mortgage rates protected.I came

Dave's E-mail: 09/23/09

2009-09-23T13:47:00.002-04:00

TD jacks up home credit lineshttp://www.thestar.com/business/article/699446Calling all TD Bank clients who received their notices about their secured credit lines going up to Prime +1.00% effective Nov 16 or any other clients who are sitting with significant balances on their existing credit lines, there is a way to actually shift that debt to a Prime Minus position once again.I really enjoyed

Dave's Email: 09/11/09

2009-09-11T10:51:00.001-04:00

Bankers watch as Swedish interest rates goes subzerohttp://edition.cnn.com/2009/BUSINESS/08/27/sweden.subzero.interest.ft/I recently came across this article, and I am starting to question when or where is this all going to end ???If someone told me that someday a government would pay someone to borrow money ?? The immediate answer would be no…. But in Sweden this is no longer the case. Up

Home Maintenance Tips for Fall from CMHC

2009-09-10T14:13:00.001-04:00

Protect Your Home — and Your Investment!Your house is more than the place where you live, it's your home and your most important investment. Carrying out a regular program of maintenance and repairs can help you protect that investment, and help keep your family safe and sound in every season.In Fall, Canada Mortgage and Housing Corporation suggests you take a few minutes each week to perform the

Dave's E-mail: 09/08/2009

2009-09-09T15:06:00.002-04:00

They're Both Back !!!!! Wasn’t it wonderful dropping off the children to start another school year? I found myself humming the “it's the most wonderful time of the year" song that has been on practically every radio/TV station. Don’t get me wrong, I love my kids but by the end of the Summer I am so ready for them to return to school. The great news doesn’t stop there !!!!! It seems a lone lender

Variable Rate Mortgage Update

2009-09-04T16:09:00.000-04:00

We have Prime MINUS .05% = 2.20% on a variable rate mortgage!

Best Variable Rate in Months!

2009-09-04T15:55:00.003-04:00

Just released - Variable at Prime! 2.25% Variable rate mortgages have been prime plus since late last year and have slowly been climbing down. We may soon see prime minus mortgage products become available again.Best 5 year Mortgage Rate is 3.93%

Canada’s Economic Action Plan Offers Incentives for Homeownership

2009-08-27T15:00:00.000-04:00

Buying your first home is one of the largest investments of your life. Canada’s Economic Action Plan introduces the First-Time Home Buyers’ (FTHB) Tax Credit and the expansion of the Home Buyers’ Plan (HBP) to provide you with additional benefits and help you realize your dream of homeownership.First-Time Home Buyers' (FTHB) Tax CreditThe costs associated with purchasing a home, such as legal

Homeownership Tax Credits

2009-08-27T14:52:00.003-04:00

The 2009 federal budget featured some exciting changes to encourage homeownership.They include:$25000 - Increasing the amount a first-time homebuyer can borrow tax-free from an RRSP for a home purchase to $25, 000 from $20, 000$1,350 - Introducing a home renovation tax credit for work done between Jan. 27, 2009 and Feb 1, 2010. (Max credit $1,350)$750 - Introducing a $750 First-Time-Home Buyers'

Home Truths and Mortgage Myths

2009-08-27T14:49:00.001-04:00

With so much uncertainty and media hype in the marketplace, this is a good time to sort through a few common misconceptions.Here are five of the most often heard myths we take time to dispel to help both buyers and sellers."Canada’s market mirrors the US real estate meltdown”Thanks to our stricter lending policies, default and foreclosure rates are significantly lower here than south of the

Buying a Home: Who You Need on Your Team

2009-08-11T13:12:00.002-04:00

Buying a home is one of the biggest decisions you'll ever make.Buying a home is one of the biggest decisions you'll ever make. So when it comes time to signing on the dotted line, make sure you don't make that decision alone.To help you put together the right team of professionals, Canada Mortgage and Housing Corporation (CMHC) offers the following who's who list of experts and what they should

Canada's Home Renovation Tax Credit

2009-08-11T13:04:00.002-04:00

The HRTC might provide you with the break your need on your next renovationThe economy is in trouble, and so is your front lawn. The government has come up with a tax credit that hopes to address both problems.This year’s federal budget contains a new Home Renovation Tax Credit (HRTC). If you spend between $1,000 to $10,000 on work or goods for the renovation of your home or cottage, you can

Easy Refi Progam - NO Legal Fees!

2009-08-07T12:01:00.001-04:00

What has really been attracting attention is our "EASY REFI" program that is exclusive to the lender currently offering the better mortgage options.Under this program the lender pays for the legal fees, and appraisal fee for mortgage refinances. In the past, this was a program that the Bank's were only allowing for Mortgage Switches. But with a switch you can't change the mortgage amount, or

Dave's Email 07/21/09: Bank Rate, No Change

2009-07-22T10:04:00.002-04:00

As expected no change to the bank rate, as there is no where for the rate to go… There is still room for one more drop if things become very desperate, so the Bank of Canada wants to keep this “Life Preserver” close at hand, in case things get worse. Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the

Mortgage Rates are Rising! What Should I Do?

2009-07-06T11:29:00.001-04:00

In the past few weeks, mortgage rates have been rising steadily. While this may come as a shock to many home owners and potential buyers, it’s actually the result of some relatively positive news. After months of continual decline, the economy is showing signs of coming back to life. This has caused investors to start worrying about inflation—especially with all the government stimulus that’s

Overnight Rate Remains Static

2009-06-04T12:46:00.000-04:00

Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.Information received since

FREE EASY REFI PROGRAM at 3.67% for 5 year fixed

2009-05-28T12:41:00.002-04:00

No significant changes since my last email, with regard to rates.Bank Rate still sits at 0.50%Prime Rate is still 2.25%Best 5 Year Fixed Rate is still 3.67% - 3.54 is available on a quick close FULLY closed 5 year term. Best Variable Rate is PRIME + 0.55% (Currently 2.80%) 4 year term - PRIME + .60% 5 year term (2.85%) What is really attracting attention is my new "EASY REFI" program that is

Mortgage Alliance’s Exclusive Mortgage Products

2009-05-27T13:01:00.001-04:00

Mortgage Alliance and Oac Mortgages know the needs of their clients. With these needs in mind they have created three mortgage products that are available ONLY through Mortgage Alliance.All mortgages are not the same. Find out more before you commit!Right Mortgage®ConceptConsumers are educated about how mortgage features affect interest rates and are able to select the features and privileges

5 Year Bond Yield Increases

2009-05-27T10:21:00.004-04:00

The 5 year bond yield ended up at 2.42. That’s 49 points over the last 30 days. Where-ever you are originating, it may make sense to get your 5 year fixed rate deals in before costs increase further and you start to see increases in the rates across the board.27/04/2009 1.9328/04/2009 1.9729/04/2009 2.0130/04/2009 2.0201/05/2009 2.0104/05/2009 2.0305/05/2009 2.0106/05/2009 2.0307/05/2009 2.1008/

Mortgage Rates to Remain Stable: CMHC

2009-05-22T12:22:00.001-04:00

Mortgage rates are expected to remain within 25 to 75 basis points of their current level for the remainder of 2009, according to CMHC's second quarter Housing Market Outlook, keeping them "very low in a historical context.""Movements in mortgage rates are difficult to predict due to volatile economic conditions," the report stated. "Nevertheless, rates are expected to remain steady this year and

Avoiding the B Word...

2009-05-22T11:36:00.002-04:00

Canadian media as of late has been focusing a lot on the increasing amount of mortgage arrears and foreclosure proceedings across the country. Calgary foreclosures, for instance, are up 71% from last year, and related stats show that total bankruptcies have increased 12.3%.But that's not to say the industry wasn't prepared for the bad news. In fact, two mortgage insurers have even introduced

Housing Activity Will Moderate in 2009, Improve in 2010

2009-05-20T14:15:00.001-04:00

OTTAWA, May 19, 2009 — Housing starts are expected to decline to 141,900 for 2009, but increase to 150,300 for 2010, according to Canada Mortgage and Housing Corporation’s (CMHC) second quarter Housing Market Outlook, Canada Edition* report.“The decline in housing starts in 2009 can be attributed to several factors, including the current economic climate, increased competition from the existing

Mortgage Alliance/MPH submitted over $1.5 Billion in volume for April

2009-05-15T09:44:00.001-04:00

As forecasted, Mortgage Alliance/MPH submitted over $1.5 Billion in volume for April.April was indeed a great month for our mortgage professionals - a remarkable feat of strength given current economic conditions and a stagnant real estate market.This spring, we launched the largest brand campaign in Canadian mortgage brokerage history reaching over 50% of the population between the ages of 25-54

Employee Mortgage Benefit Program (EMBP)

2009-05-14T15:55:00.000-04:00

OAC Mortgages Inc. is excited to announce the introduction of our Employee Mortgage Benefit Program (EMBP).OAC Mortgages compliments and works with our EMBP Partners to achieve the ultimate service in delivering value added programs to enhance their loyalty programs and company business philosophy.The program aims to partner with various employers, creating an integrated, network, in order to

Local Resale Housing Market Springs Back

2009-05-14T15:37:00.000-04:00

(May 5, 2009 – Hamilton, Ontario) The Hamilton-Burlington area resale market reported a total of 1,232 units sold in April, indicating a decrease of 12.6 per cent over the same month last year, but an increase of 18.9 per cent over March. The total unit sales for the first four months of 2009 are being reported at 19.8 per cent lower for the same period last year, while new units listed are 4.3

Dave's E-mail: 05/14/09 A Reason why the Canadian Real Estate market may not drop as much as the US

2009-05-14T15:36:00.001-04:00

There is such an abundance of information out there, trying to predict if the recession is coming to an end, or has it even begun yet??…Yes housing prices are showing signs of a reduction, but the question that I have been finding the toughest to answer is, “will we follow the US housing market, with substantial drops in housing prices?” Previously my slant on this has been that the Canadian

2009-05-01T11:10:00.000-04:00

Bank of Canada Interest RateMarch 3, 2009 0.50%April 21, 2009 0.25%*June 4, 2009 Next meeting dateSource: Bank of Canada* Bank of Canada indicated it would keep interest rate at this level until June 2010Bank Prime Lending RateMarch 4, 2009 2.50%April 22, 2009 2.25%June 5, 2009 Next meeting dateSource: Bank of CanadaUS Federal Reserve Board Discount RateMarch 18, 2008 0.00–0.25%Arpil 29, 2009

Press Release - Employee Mortgage Benefit Program!

2009-05-01T11:05:00.001-04:00

New Mortgage Benefit Program to assist employers, employees and the Hamilton Burlington United Way.Oac Mortgages (2009) Mortgage Alliance OAC Mortgages has implemented an Employee Mortgage Benefit Program (EMBP). This benefit program is offering companies a number of mortgage related benefits for their employees. In addition to all of the superb perks of the program participating companies

What Drives Fixed and Variable Mortgage Rates?

2009-01-02T15:21:00.002-05:00

While many people think the Bank of Canada rate directly affects all mortgage rates, the truth is that variable and fixed rates are influenced by different factors.Fixed rates are affected by the yields of government bonds. Since these bonds are considered safer investments than stocks, when there’s economic turmoil, investors move away from stocks to bonds. This increased demand for bonds

Who Else Is Suffering From Christmas Debt Hangover?

2009-01-02T14:56:00.002-05:00

According to a recent Bank of Montreal poll, 24% of the Canadians who carry over a balance on their credit cards after Christmas said it would take them at least six months to pay off their holiday debt. Yes, red truly is a Christmas color. So much for more and more Canadians living paycheck to paycheck. Now they need more paychecks to pay off that gift giving debt.If the Christmas season put

Good Debt vs. Bad Debt

2009-01-02T14:49:00.001-05:00

More and more people are getting swallowed up by debt. I'm sure you've read and heard many of the statistics and stories in the news. One of the keys to financial independence is to get rid of your bad debt and acquire good debt. Bad debt is debt that makes you poor, such as credit card debt, car loans, school loans - this is consumer debt. Good debt is debt you acquire that actually works for

Bank Of Canada Drops Overnight Rate

2008-12-09T10:28:00.000-05:00

Press ReleasesFOR IMMEDIATE RELEASE9 December 2008 CONTACT: Jeremy Harrison613 782-8782 ________________________________________Bank of Canada lowers overnight rate target by 3/4 percentage point to 1 1/2 per centOTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by three-quarters of a percentage point to 1 1/2 per cent. The operating band for the

Dave's Email: 11/25/08 Prime expected to go down .50% in December

2008-11-27T11:32:00.001-05:00

By Alexandre DeslongchampsNov. 21 (Bloomberg) -- Canada's annual inflation slowed more than expected in October and prices had the biggest monthly drop since 1959, bolstering the central bank's view that they may tumble through next year.Consumer prices rose 2.6 percent from a year earlier, after 3.4 percent in September, as gasoline posted a smaller gain than in previous months, Statistics

Dave's E-mail: 11/18/08, Light at the End of the Tunnel

2008-11-21T10:16:00.002-05:00

It seems every day I open the newspaper there is one article after anotherpredicting doom and gloom. Stories about Bank bail outs, houses that can'tsell, layoffs, and the plunging stock market, is really starting toobliterate consumer confidence.Everyday it seems someone is asking me if I am busy, with an expectation of an answer of being slow. Well I have to say that this has likely been one

Whois Dave?

2008-10-22T16:20:00.004-04:00

Dave Kendall is a Mortgage Agent who joined our company in January, 08. He has been in the mortgage industry well over 18 years starting his career with Royal Bank as a mortgage specialist. In 1996 Dave joined Canada Trust as a mortgage specialist and became quickly top 10 in canada for the bank. When TD merged with Canada Trust Dave decided to leave the banking side and joined a Mortgage