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Blog by Linda M Linfoot

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Bank of Canada - Prime Rate

July 19th, 2011
Bank of Canada maintains overnight rate target at 1 per cent OTTAWA, July 19, 2011 /CNW/ - 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 global economic expansion is proceeding broadly as projected in the Bank's April Monetary Policy R ...
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Posted in Mortgage Information

Don't Accept the first price Upon Renewal

July 4th, 2011
Don’t accept the first price upon renewal Remember all the work and research that went into finding the best rate for your first mortgage? Whether you spent months making sure your credit was as good as can be, or spent hours on the Internet searching for the best rate, it seems silly to waste that effort ...
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Posted in Mortgage Information

Equifax Credit Score vs. Beacon

June 20th, 2011
Equifax Credit Score vs. Beacon Did you know that the Equifax Credit Score that consumers purchase via www.equifax.ca is not the 'Beacon' score?  Have you ever run into a situation where you went to Equifax.ca to pull your own score and used that as a basis for qualifying?  Well it is important to note that the Equifax Credit Score is NOT the beacon score.  This can be a little mislead ...
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Posted in Mortgage Information

The Perks of using a Real Estate Agent

June 15th, 2011
The perks of using a real estate agent With the Competition Bureau pushing for a more publicly-accessible Multiple Listings Service (MLS), and for-sale-by-owners sites, such as Property Guys, picking up steam, you may be tempted to forgo the services of a real estate agent and tackle your home sale yo ...
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Posted in Real Estate Information

Make Sure Renovating your Home is for the Right Reasons

June 10th, 2011
Thinking of renovating? Make sure it’s for the right reasons. Canadians still seem to have the reno bug – if a recent homeowners study is accurate. According to the report, Canadians are planning on spending $46 billion on home renovations in 2011 – up from $45.3 billion in 2010. If you’re thinking ...
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Posted in General

Five Steps to scoring a mortgage

May 13th, 2011
Five steps to scoring a mortgage Amy Fontinelle Investopedia.com A variety of factors can keep you from qualifying for a mortgage. The big ones include a low credit score, insufficient income for the size of the loan you want, insufficient down payment and excessive debt. All of these factors are within your control, however. Let's take a look at your options for overcoming any liabi ...
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Posted in Mortgage Information

Convincing Them it's NOT all about Rate

May 5th, 2011
Convincing them it's not all about rate As a mortgage broker, one of the most difficult tasks can be to convince a headstrong client that, when it comes to finding the best mortgage, they have to consider more than rate. A recent report by ING Direct confirms this fact - with 71% of respondents confirming that rate is, indeed, the most importan ...
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Posted in Mortgage Information

Nine Signs you can't afford a Mortgage

May 3rd, 2011
Nine signs you can't afford a mortgage Michele Lerner Investopedia.com While plenty of individuals live from paycheque to paycheque, most consumers know they should be saving money and reducing debt. The recession has drummed that concept into everyone's head as people have watched their neighbours and friends lose jobs and sometimes their home. Many people say that money worries k ...
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Posted in Mortgage Information

Questions Real Estate Investors should ask their Accountants

April 21st, 2011
Questions real estate investors should ask their accountants Posted on: January 11th, 2011 by George Dube As a real estate accountant, the most common questions that real estate investors ask me are “Should I incorporate?” and “What can I deduct?” But what other questions should they be asking? Here are just a few that come to mind… How frequently should I be talking to my accountant? Th ...
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Posted in Real Estate Information

Young Adults Wait to Purchase

April 8th, 2011
More than half of young adults waiting till next year to buy home: RBC survey By Sunny Freeman, The Canadian Press TORONTO - As rising home prices continue to outpace income growth, many young Canadians have decided to delay home ownership for another year, according to a poll released Thursday by Royal Bank of Canada. RBC's annual home ownership poll found that 55 per cent of responde ...
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Posted in General

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