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Blog by Linda M Linfoot

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Mortgage Broker or Not??

August 6th, 2009
The following statistics are courtesy of CAAMP, and issued April 2009 in their report entitled "The Canadian Residential Mortgage Market During Challenging Times":   - First-time mortgages are most likely to be sourced through a mortgage broker (48%) (compared to Banks at 44%). - The mortgage broker industry represented 46% of all new mortgages written in Canada last year (compared to 43% ...
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Posted in Mortgage Information

Important Rate Annoucement

July 22nd, 2009
  IMPORTANT RATE ANNOUNCEMENT: Bank of Canada Holds Key Lending Rate Steady at 2.25%; July 21, 2009 The Bank also reiterated its commitment to hold its key rate at the current level until the end of the second quarter of 2010, conditional on the outlook for inflation. In its statement the Bank noted that in Canada, “simulative monetary and fiscal policies, improve financial conditions, fir ...
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Posted in Mortgage Information

Credit Score Information

July 6th, 2009
Credit Score Information - Credit Coaching
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Posted in Mortgage Information

Important Rate Annoucement!!

April 22nd, 2009
IMPORTANT RATE ANNOUNCEMENT: Bank of Canada Lowers Key Lending Rate Again; April 21, 2009 Major Canadian banks follow suit; reduce Prime Rate to 2.25%. The Bank of Canada lowered the overnight lending rate by 25 bps, enabling financial institutions to decrease their Prime Rate to a new historic low of 2.25%. The Bank of Canada has announced today that it has revised its recovery expectati ...
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Posted in Mortgage Information

What the Rate Cut Means for Mortgages

April 22nd, 2009
What the rate cut means for mortgages Garry Marr, Financial Post  The latest rate cut means consumers buying a house can borrow for as little as 3% interest on their loan if they are willing to buy into the Bank of Canada's statement Tuesday that it won't be changing rates until June, 2010. If you don't believe the bank will hold steady on its promise, you can lock into five-year, fixed-r ...
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Posted in Mortgage Information

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