Mortgage Broker News

By: Matt  09-12-2011

Wow! In a suprise announcement a short while ago, Wells Fargo has informed they are discontinuing lending in Canada effective immediately. They will honour any existing commitments so long as all terms and conditions of the commitment are fulfilled and complete on time. Just when it seemed like the economy was reaching a turning point, it’s bad news to here that one of the oldest banks in the business (its formation goes back to the..


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09-12-2011

Mortgage Industry Reports

For the past 10 years, Canada Mortgage And Housing Corporation’s Mortgage Consumer Survey has provided quality information on consumer shopping behaviours, attitudes and expectations when acquiring, renewing or refinancing a mortgage.


09-12-2011

Buyer Protection Plan

A shift to a buyers market has everything to do then with buyers who are fearful running to the safety of the herd and staying on the sidelines. As Real Estate markets across Canada shift through a balanced market to a buyers market behaviours become very predictable. Buying a home is and always has been an emotional decision first and a financial one second. Buyers Buyers adapt very quickly to a changing market.


09-12-2011

Current Market Information

There were 2,089 sales processed on the Fraser Valley Real Estate Board’s Multiple Listings Service®, an increase of 62.7 per cent compared to 1,284 sales in July of last year. ) The Fraser Valley saw the highest number of real estate transactions ever recorded for the month of July. The previous highest July was in 2005 at the height of the boom, with 2,051 sales. Did I say on fire.


09-12-2011

Mortgage Commentary

Royal Bank of Canada, TD Bank, Canadian Imperial Bank of Commerce and Bank of Montreal just announced some lower mortgage rates on the heels of the Bank of Canada’s recent decision to keep interest rates at historic lows. In what started out in January as an offering of 5.79% on 5 year fixed terms, we end the year with 5 year.. In a year of “interesting” economic times, we end the year with some great mortgage rates.