Mortgage Shop TalkFor the well-informed
Welcome to the Mortgage Shop Talk Blog!
We’re particularly excited about launching this blog as it coincides with the launching of the MortgageGarage.ca website. MortgageGarage.ca is the my (Allen Hubble, Mortgage Alliance) place to connect with clients and soon-to-be clients in an effort to keep them informed about happenings in the real estate, mortgage and personal finance arenas. We hope you’ll be a regular visitor on our site and our blog.
In the Mortgage Shop Talk Blog, we’ll share with you information about what we love to do most: help you bring to life the dreams you have. Although we may market mortgages and loans, our passion and purpose is actually helping people to have the homes and lives of their dreams.
Below you’ll find our latest articles to educate and inform you on the current mortgage (and finance) environment.
Recently, the Bank of Canada released its semi-annual Financial Systems Review (PDF document), which identifies some of the major risks that the Bank foresees on the economic horizon. Unsurprisingly, the Bank pinpoints increased levels of Canadian household debt and...read more
As part of Genworth's Homeownership Education Week Seminar, Genworth decided to get social and ask recent first time homebuyers to give simple advice to others looking to purchase their first home. The results were captured and included in the Spring issue...read more
If you talk to any REALTOR®, they will confirm that in couples looking to find their "forever home" there has been a recent surge in demand for a space dedicated as a man cave. It could be the basement (the darker the better) or it could be in a garage, regardless,...read more
This article was originally published on LinkedIn by Chris Bailey on Oct 28th 2015. Chris is a self-proclaimed Jedi Master at A Life of Productivity where he blogs about being productive. For Some Strange Reason, Our Brain is Wired to Think in Threes. As kids, we grow...read more
If you are looking to purchase a property in the next while, you probably already know that you need at least 5% of the purchase price as a downpayment. Saving a bigger downpayment, let's say 10%, certainly increases your chances of securing financing. While having a...read more
The Bank of Canada is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Inflation is broadly in line with the Bank’s projection in its April Monetary Policy Report (MPR)....read more
Is the government being reckless and irresponsible or will rates be this low forever? Here's a great article that compares the recent changes to mortgage qualifications imposed on Canadians (what the government says) and the government's own borrowing (what they are...read more
Navigating the real estate and mortgage processes with the help of an expert mortgage broker can help set your mind at ease when making one of the largest financial decisions of your life. Mortgage brokers negotiate with lenders on behalf of borrowers daily, so they...read more
One of the benefits of working with an independent mortgage professional is having lots of great financing options! Rather than dealing with a single lender who has one set of products, brokers work with multiple lenders who offer a wide selection of mortgage...read more
Last month, the article "Can't find the Perfect Property in Your Price Range" was published on the blog, where the purchase plus improvements program was outlined as a way to buy and renovate a property at the same time. If you are looking to buy a new home, but can't...read more
If the great BC power outage of 2015 taught us anything, it was that anything can happen at any time. Final tallies estimate power was lost to over 500,000 homes and businesses across BC, with some outages lasting several days. This had a lot of people taking a good...read more
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. Global economic growth is strengthening and becoming more broadly-based...read more
The larger home is not always the better home. Yes, there still exists a large group of individuals who enjoy owning a grand estate, complete with all the modern conveniences, in addition to everything you could ever want; and of course, there’s nothing inherently...read more
You're pre-approved for a mortgage, you've been shopping with location in mind, but unfortunately the perfect property isn't jumping out at you. There is no doubt about it, finding the perfect property (within your price range) is a difficult task, especially for...read more
As you may well be aware, the government has recently made changes to the way mortgages are qualified through the Canadian Mortgage and Housing Corporation (CMHC). In short, these changes have made it more expensive for some of the broker channel lenders to fund...read more
Welcome to the third and final post in a series about smart homes and technology. In case you want to start at the beginning, you can find the introduction here, while we went room to room in the second post. Now, this post WAS going to focus on new gadgets, fresh off...read more
Last week on the blog we talked about smart technology, this week we go through the home. Next week we finish the series with a question and answer period that will help you decide which smart technology is right for you! Varied, intricate but certainly user friendly,...read more
Welcome to the introduction article of a 3 part series focusing on smart technology with a focus on smart homes. Expect part 2 in a week and part 3 a week after that. 3 parts, 3 weeks, simple as that. We all need some sort of “down time” in our lives; time to unwind...read more
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent. CPI inflation rose to 2.1 per cent in January, reflecting higher energy...read more
Have you ever wondered about how to protect yourself from mortgage fraud? Although the chances of you becoming a victim of mortgage fraud is relatively small, if you do become a victim, it will certainly have a long lasting negative impact on your life. So best to be...read more