Mortgage News

Tips for Getting Your Loan Approved

As an Edmonton mortgage broker, I understand that the process of getting approved for a loan can be intimidating. You may feel overwhelmed about what is required to apply or feel nervous waiting to know whether or not you are approved for the loan you want.

Throughout my years of experience in the mortgage industry, I […]

By |April 4th, 2017|Uncategorized|0 Comments

Mortgage Insurance Premiums To Go Up

The cost of mortgages for homebuyers with smaller down payments is going up today.

Mortgage default insurance premiums – needed any time buyers have less than a 20 per cent down payment – will increase on March 17, 2017.

The increase is meant to ensure mortgage insurance companies like Canadian Housing and Mortgage Corporation (CMHC) Genworth Financial […]

By |March 17th, 2017|Uncategorized|0 Comments

Edmonton Mortgage | Canadian Mortgage News Update

In October, the Canadian Federal Government enacted changes to the country’s mortgage regulations, requiring homebuyers to pass a “stress test” and qualify for higher mortgage rates.
As an Edmonton mortgage broker, Jason Scott has strived to stay up to date on all local and national market news and trends. Throughout his years of experience in the […]

By |January 11th, 2017|Uncategorized|0 Comments

St. Albert/Edmonton, AB Market Update – November 2016

Alberta’s housing market should be ending the year on a solid note.

As we head into the colder months of the year, the housing market usually slows down. So far in 2016, the market has remained relatively constant despite the cooler weather. Sale numbers are consistent and prices remain stable, which is great news for those […]

By |December 15th, 2016|Uncategorized|0 Comments

New Mortgage Rule Will Make it Harder to Borrow

A new mortgage rule will to make it dramatically harder to borrow for a mortgage.

Bill Moreau, Canada’s finance minister, announced today that borrowers will have to qualify at the Bank of Canada rate on all insured mortgages – those with less than a 20 per cent down payment.

Today that rate is 4.64 per cent which […]

By |October 3rd, 2016|Uncategorized|0 Comments

How Grouplend is helping my mortgage clients

I’ve recently been introduce to a new lender that provides unsecured loans up to $30,000.

Grouplend is a Canadian lender – they are based in Vancouver – that quickly approves loans.

As a mortgage broker, Grouplend is handy resource because some clients are able to borrow their down payment for a home.

Homeowners who don’t have enough equity […]

By |October 18th, 2015|Debt Reduction|0 Comments

Alberta Homebuyers to Pay Dramatically Higher Real Estate Fees

Homebuyers are going to see major fee increases in the wake of last Thursday’s provincial budget.Beginning July 1st, land transfer and mortgage registration fees will increase for both flat fee and variable fee components.The flat fee component of each type of registration increases from $50 to $75 (that’s a 50 per cent increase) but is […]

By |April 1st, 2015|Uncategorized|0 Comments

Is the Sky Falling? Economic Perspective on Edmonton and Oil Prices

Wow, there sure is a lot of bad news about oil prices and its impact on the Edmonton and Alberta economies.You’d think the sky is falling with all the doom and gloom.I used to work as a reporter and photographer in the newspaper industry so I know bad news sells papers. “If it bleeds, it […]

By |February 17th, 2015|Uncategorized|1 Comment

Shocking Bank of Canada Interest Rate Cut Should Lead to Lower Mortgage Rates

If you’re into economic policy, today was a jaw dropper.
Stephen Poloz, the governor of the Bank of Canada, shocked markets today when he announced a .25 per cent cut in the bank’s key lending rate.
The key rate had been at 1 per cent since 2010 and experts were expecting a rate hike later this year.
Instead […]

By |January 21st, 2015|Uncategorized|0 Comments

Will Mortgage Rates Drop with Record Low Bond Yield

Quick question for you.
What’s falling as fast as oil prices but not getting anywhere near the attention?
The answer – with a hint in the headline – is the yield on five-year Canadian Government bonds. The bond yield fell to a record low of just a hair over 1 per cent this week.
That will hopefully spur […]

By |January 17th, 2015|Mortgage Refinance, Purchasing a new home, Uncategorized|0 Comments