Tips for Getting Your Loan Approved

By |April 4th, 2017|

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 […]

Mortgage Insurance Premiums To Go Up

By |March 17th, 2017|

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 […]

Edmonton Mortgage | Canadian Mortgage News Update

By |January 11th, 2017|

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 […]

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

By |December 15th, 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 […]

New Mortgage Rule Will Make it Harder to Borrow

By |October 3rd, 2016|

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 […]

Alberta Homebuyers to Pay Dramatically Higher Real Estate Fees

By |April 1st, 2015|

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 […]

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

By |February 17th, 2015|

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 […]

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

By |January 21st, 2015|

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 […]

Will Mortgage Rates Drop with Record Low Bond Yield

By |January 17th, 2015|

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 […]

Make extra mortgage payments one of your New Year’s Resolutions

By |January 3rd, 2015|

Welcome to 2015!
And with it a chance to make one New Year’s resolution that doesn’t involve a diet or a gym and should be easy to keep.
Make a resolution about your mortgage.
If you commit to putting a few extra dollars toward paying down your mortgage sooner.
It doesn’t sound exciting, does it?
But I guarantee you’ll feel […]