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Mortgage rates have been fairly stable – the pattern is one we are familiar with….a rate increase of .25% and then gradually the pricing starts to settle back around 4% on a 5 yr fixed rate. More buyers are considering a shorter term of 3 or 4 years to take advantage of lower rates. A snapshot of today’s best ...
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On March 4th, many in the industry expect the Finance Minister to announce changes to mortgage lending regulations. Possible changes include: · increasing minimum down payment from 5% to 10%;· decreasing maximum amortization from 35 ...
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Pre-approvals and rate holds have been a standard offering with most lenders. I recently received a newsletter from a mortgage broker I work closely with in Toronto [Rosanna Younan from Premiere Mortgage Centre], informing me that two big lenders, TD and FirstLine (part of CIBC) have decided to stop pre-approvals within the broker ...
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Mark Carney, Govenor - Bank of Canada, clearly stated the central bank is committed to keeping the lending rate at .25% until June 2010. He believes the low rate is key to weathering the storm; however, if necessary the central bank also has some other tools available (see link for more details). Following the Bank of Canada rate ...
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