Canada To Follow The US?

That seems to be the question right now, there is no correct answer. We are seeing signs that mortgage rates will continue to trend lower in Canada and the US. The housing market and mortgage market are very different in Canada vs the US. If rates continue to go lower in Canada and the employment stays strong, we should be in great shape in Canada. In the interim everyone is continue to watch the next moves of the Bank of Canada and the US Federal Reserve.

Mortgage Terms Changing

The mortgage terms are changing dramatically for today's consumer. Today client's have the choice of going up to 40 years as an amortization period. Zero down payment mortgages are available along with being able to buy a rental property with five percent down payment. You can also now have a line of credit up to ninety percent of the value of your home. This is just a small sample of the positive changes the lenders and insurers are doing to help more Canadians purchase homes. These products also allow consumers to better manage their mortgages as financial tools vs a debt tool.