It’s no secret that consumer debt in Canada is at record-high levels. We know this from recent data from Equifax and TransUnion, both of which have been warning that credit card balances are at their highest levels since 2019. With interest rates and borrowing costs at record highs, it’s more important than ever to […]
With interest rates and borrowing costs at record highs, it’s more important than ever to ensure your credit report is in good standing.
All mortgage brokers should have a comfortable working knowledge of how prepayment penalties are calculated and applied. Our clients depend on us to know the ins and outs of these often-significant penalties in order to minimize the cost for them—or better yet, to help them avoid penalties altogether. Prepayment penalties can be a daunting […]
All mortgage brokers should have a comfortable working knowledge of how prepayment penalties are calculated and applied.
With variable mortgage rates potentially at a peak and fixed rates having recently retreated, borrowers are asking themselves the age old mortgage question: should you go fixed or variable?
Many mortgage brokers are fielding calls from clients concerned about rising interest rates and an uncertain economic outlook.
Toronto’s Vacant Home Tax takes effect
Mortgage professionals may be feeling angst these days with origination volumes well down from last year’s highs. But it’s in times like these that the value prospect of a broker is at its highest. That was one of the key messages from the 2023 FSRA Exchange Event held on Thursday. “We’re in interesting times […]
Brokers question timing of OSFI’s proposed rule changes
OSFI proposes new mortgage restrictions