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Toronto Mortgage Brokers and Home Refinance Park Place Corporate Centre, 15 Wertheim Court Ste. 210
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Investment Real Estate & Equity Financing - Toronto, Markham, Richmond Hill, Ontario 25 Brodie Drive, Unit 1
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Dramatic Canadian Mortgage Rule ChangesCanada's Federal Finance Minister Jim Flaherty announced changes to mortgage insurance rules intended to come into force on April 19, 2010. We are monitoring these changes which are as follows: All borrowers must meet the debt service ratio standards for a 5-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term... | |
Ontario Mortgage ProsThe lending markets have had mixed reactions over the summer where 5 year fixed mortgage rates hit a high of 4.5%. For most mortgage originators including the big 5 banks in Canada the floor rate for 5 year fixed rate mortgages is currently 4.19% or higher. We have achieved the volume requirements as agents of status with our lenders and are able now to secure for a short time a fantastic deal on fixed rate mortgages... | |
