Why Change The Mortgage Rules?

The rules that banks would like to put in place to slow down mortgage lending due not make sense. Why ask the government to change mortgage rules that they could do themselves? The Canadian banks have a 75% market share in the Canadian mortgage world. The banks set the rules on how the mortgage money is lent out and so far they are doing a great job. Foreclosure rates on mortgages are still at very low levels. The Canadian banks can change the rules on mortgages anytime and do not need government approval to do so.

Where Interest Rates In Canada Are Going?

The answer is looking to the US. More specially the relationship between our dollar and the US dollar. As our dollar remains close to parity with the US dollar look for the government to keep rates on hold. Benjamin Tal, CIBC economist has written a great quick brief on this. We have seen rates go down to low levels in the past couple of weeks to 3.69% on 5 year fixed rates and 1.95% currently on variable.

Fixed VS Variable Mortgage Rate?

This is the question everyday for candian mortgage holders. The answer is based on each persons risk level, tolerance, finacial postion and goals. As you can tell this is not an easy answer that can be blanketted over every canadian. With the rates at histioic lows currecntly on both fixed and variable the coice is good for both of them.

Does Learning Ever Stop?

I spent the day with my business coach Joe Stumpf with the By Referral Only realestate and mortgage lending coaching. I have been in the mortgage business now for 18 years and have been learning ever since. with Joe today, I was able to fully understand that lerning and growing never stope. We evlove and this is different for each one of us. The journey never stops unless you choose it. I really appreciate the growth that i have done and watched Joe do over the past 11 years. Check out byreferralonly.com

Real Estate Market Balanced?

There was an intresting article fromDerrick Penner in today's Vancouver Sun. The report was on the board stats for sales in the month of January. The vancouver board was down 24% compared to december sales. This is really not too much of a suprise as we have the olympics sarting Febuary 12 th and slaes at peak levels for 2009. We should see more balance all this year as the rates should stay relativly low. The wildcards as alawys is unemployment and the value of the canadian dollar.

Real Estate Sales Balanced?

Mortgage Rates Head Downward?

We just saw today the mortgage rates head down even lower! This is a surorise as we saw rates move up two weeks ago. All the forecast was an increase in the rates going even higher. I believe with the HUGE US deficit, unemployment showing no signs of slowing down..this could mean rates are here to stay low for awhile.