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"I work for YOU, not the lender"

Blog by Linda M Linfoot

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As YOUR Broker...

August 28th, 2012
As your Broker I am able to help you when the banks can’t No more 'BANK' Competition! I know the 'nonprime' solutions that are available, I am the true mortgage expert when the bank says no. As your broker - I am creative! I structure the deal with a true common sense approach. I know what it means to use a Vendor Take Back to save the deal, or perhaps an inter-alia mortgage whe ...
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Posted in Mortgage Information

Bank of Canada

July 24th, 2012
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Posted in Mortgage Information

Tighter Guidelines for Qualifying

June 28th, 2012
Tighter guidelines for qualifying:  Canada's mortgage insurance rules.  Four measures were announced: 1. Amortizations reduced to 25 years 2. Refinancing limited to 80% 3. Properties purchased at over $1 million no longer eligible for mortgage insurance 4. GDS and TDS set at 39% and 44%        CAAMP believes that Canadians understand the importance of paying down their mortgages ...
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Bank of Canada Annoucement

June 5th, 2012
Ottawa, Ontario - 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 rate is 3/4 per cent. The outlook for global economic growth has weakened in recent weeks. Some of the risks around the European crisis are materializing and risks remain skewed to the downside ...
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Why a Smaller Down Payment can lead to better Mortgage Rates

May 9th, 2012
Why smaller down payments can lead to better mortgage rates By Garry Marr, Financial Post May 3, 2012 http://www.canada.com/business/fp/money/smaller+down+payments+lead+better+mortgage+rates/6550872/story.html It doesn't make much sense, but a skimpy down payment on a home might actually get you a better mortgage rate in today's market. Blame the government subsidy known as mortgage defa ...
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Bank of Canada Annoucement

April 17th, 2012
Bank of Canada maintains overnight rate target at 1 per cent For immediate release 17 April 2012 Contact: Jeremy Harrison 613 782-8782 Ottawa, Ontario - 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 rate is 3/4 per cent. The profile for global ...
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The Mortgage Movement

March 12th, 2012
The Mortgage Movement Each year, the Canadian Association of Accredited Mortgage Professionals contracts a market research company to verify the latest trends in the Canadian mortgage market. The latest report finds that Canadians remain highly satisfied with the terms of their mortgages. Fixed-rate mortgages are the most popular type, with 60 percent of homeowners secured in that ...
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How Long Will Personal Bankruptcy in Canada Stay on My Credit Report

March 5th, 2012
How Long Will Personal Bankruptcy in Canada Stay on My Credit Report  Posted by: David Smith on 11/08/2010 There are several factors we have to consider to answer the question of how long a personal bankruptcy in Canada will remain on your credit report. The first is how long you will remain in personal bankruptcy before being disc ...
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CMHC Insurance Limits: A Wake-up Call for Lenders

February 2nd, 2012
CMHC Insurance Limits: A Wake-up Call for Lenders Many have now seen this National Post article. The gist of it: CMHC is approaching its $600 billion government-imposed limit on issuing mortgage default insurance. That’s happening largely because of lenders’ enormous appetite for something called portfolio insurance (a.k.a., “bulk insurance”). No one fully grasps the repercussions yet ...
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Mortgages: A Head Scratcher For Consumers

January 25th, 2012
Mortgages: A Head Scratcher For Consumers Article written by Boris Bozic on the 24 Jan 2012 “We, the consumer, read about these mortgage issues in the media and try to understand but the complexity of these issues leave us somewhat baffled.” The Bank of Canada decided to leave the overnight lending rate at 1%, and we’re all but assured that rates will mill remain at current levels f ...
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