Anne Lok, B. Arch M.S. AAD Salesperson

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 ...

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 ...

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 ...