General George Macris 10 Jul
The Latest in Mortgage News – All Eyes on the BoC For those with a vested interest in mortgage rates—particularly variable-rate mortgage holders—tomorrow’s Bank of Canada rate decision has become one of the most-anticipated financial events of the quarter. Expectations of a rate hike have seesawed from a near certainty to a coin toss and […]
Read MoreLatest News George Macris 10 Jul
THE MORTGAGE INSURANCE MARKET & WHOLESALE LENDERS The Canadian mortgage market used to be very simple. We had the big banks, credit unions, and trust companies. However, almost 20 years ago, the Canadian government made three major changes to the Canadian mortgage industry. First, the government and CMHC put their weight behind Canadian mortgages by […]
Read MoreGeneral George Macris 4 Jul
MORTGAGE PROTECTION PLAN Insurance coverage is something that everyone is “pitched” at some point or another in their life. Unfortunately, a lot of us have a negative attitude towards insurance or warranty as it is perceived as being a cash grab. Yes, if you are purchasing a flat screen T.V., that extra 2-year warranty […]
Read MoreGeneral George Macris 14 Jun
DON’T FORGET THE CLOSING COSTS WHEN YOU PURCHASE A HOME The purchase price you negotiate when buying or selling a home is just one part of the total cost for buying a home. In addition to the purchase price there are several other fees – known as closing costs – all of which you need […]
Read MoreGeneral George Macris 15 May
MORTGAGE BROKERS MORE IMPORTANT THAN EVER Nearly half of all existing mortgage in Canada will be up for renewal in 2018. CIBC Capital Markets estimates 47% of all existing mortgages will need to be refinanced in 2018. All of this coming on the heels of rising interest rates and changes to key mortgage regulations. With […]
Read MoreGeneral George Macris 13 Apr
ARE MORTGAGE TERMS MORE IMPORTANT THAN RATE? Why are the terms more important than rate when it comes to a mortgage? Simple. Seven out of 10 Canadians break their mortgages prior to the renewal date. Taking the wrong mortgage when you could have qualified for a better one- is a costly mistake. The biggest mistake […]
Read MoreLatest News George Macris 6 Mar
MAKING SMARTER DOWN PAYMENTS Mortgage Insurance Premiums. Many people know what they are- an extra cost to you the borrower. But not many people realize how they are calculated. Understanding the premium charges and how they are calculated will help lead you to making smarter down payments. 5%- 9.99% down payment of a purchase […]
Read MoreMortgage Tips George Macris 28 Feb
NEED A COMMERCIAL MORTGAGE? If you’re an entrepreneur, business person or commercial investor then you probably have or need a commercial mortgage. Where should you start? Do you call your bank, or do you call a commercial mortgage broker? I recommend you call your bank. Yes, that’s right; I’m a commercial mortgage broker and I […]
Read MoreLatest News George Macris 19 Jan
HOW MORTGAGE BROKERS HELP YOU GET APPROVED BY ‘A’ LENDERS Every year Canadian families are caught in unexpected bad circumstances only to find out that in most cases the banks and the credit unions are there to lend you money in the good times, not so much during the bad times. This is where […]
Read MoreGeneral George Macris 10 Jul
RATE INCREASES AND YOUR ARM VS VRM Some of you are going to ask what is a ARM and VRM? These two acronyms are mortgage speak for adjustable rate mortgage and variable rate mortgage. These two mortgage products are both based on the prime rate of interest, in most cases this is 2.70% at the […]
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