Opposite Day For BMO

Filed Under: Mortgage Rate Trends    by: Robert McLister
The 5-year government bond yield is up 30 basis points this month, based on yesterday’s close. That’s a fair sized jump in eight days. When yields do that and remain...

Insured Stated Income Programs Tighten Up

Filed Under: Mortgage Regulations    by: Robert McLister
CMHC has felt for a while that too many people apply for stated income mortgages that shouldn’t. Therefore, effective April 9, CMHC is adding more restrictions to its Self-Employed stated...

The 5-year Funnel

Filed Under: Mortgage Commentary    by: Robert McLister
Take all the high-ratio borrowers with above-average debt ratios and funnel them into 5-year fixed terms. That’s what the government has done with its new posted qualifying rate. The instinctive...

Posted Is The New Qualifying Rate!

Filed Under: Government Related, Mortgage Regulations    by: Robert McLister
Effective April 19, all high-ratio insured mortgages that have a variable rate or a fixed term under five years will be qualified using the greater of: the chartered bank 5-year...

Yields Catapult Higher

Filed Under: Mortgage Rate Trends    by: Robert McLister
Fixed mortgage rates should tick higher next week--barring any economic surprises. That’s because Canada’s 5-year government bond yield is up 18 basis points today, the most in almost five months....

Circa at Markham Town Centre- Diamond Collection Prices Updated

Filed Under: Uncategorized    by: tridel.com
Diamond Collection prices updated on the Circa website.

Federal Budget Mortgage Initiatives

Filed Under: Government Related, Mortgage Regulations    by: Melanie & Robert McLister
The federal budget has just been announced. Below are some of the implications for the mortgage market: Pre-payment Penalties: The government will “bring forward regulations” to standardize the calculation and...

New Mortgage Rules: The Impact

Filed Under: Mortgage Broker News    by: Melanie & Robert McLister
CIBC economist, Ben Tal, predicts mortgage volumes will fall due to the Finance Department’s new mortgage rules. Here are his estimates of how overall mortgage originations will be affected: New...

BMOs Drops The Gauntlet With Their 5-Year Fixed Mortgage

Filed Under: New Mortgage Products    by: Melanie & Robert McLister
It’s rare to see a big bank undercut its mortgage competitors so publicly. Most of the time they do it stealthily with “discretionary rates” that are only offered to the...

Grand Triomphe- Yonge & Finch- New Floor Plan Online

Filed Under: Uncategorized    by: tridel.com
Three bedroom with den terraced suite has been added to the Grand Triomphe website.