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Oriana News

Most consumers consider mortgage professionals important.

There is a growing acceptance of using technology to arrange a mortgage but face-to-face meetings with mortgage professionals are still important to most consumers. CMHC's annual Mortgage Consumer Survey for 2017 shows that almost half would feel comfortable using more technology to arrange their home loan and 40 per cent would be comfortable arranging their entire mortgage online using secure tools without meeting with a mortgage professional. However, most consumers said it was ...

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The Home Capital effect: Mortgage rates spike for riskier borrowers

The Home Capital effect: Mortgage rates spike for riskier borrowersGlobe and Mail ~ June 4th, 2017It was just six weeks ago that investors feared Home Capital Group Inc. – Canada’s biggest non-prime mortgage lender – was going out of business. That turned the alternative-lending market on its head, and one of the consequences is now being seen: Mortgages have become more expensive for the many Canadians who can least afford it.The situation at Home Capital has stabilized ...

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Terence Corcoran: Home Capital Group didn’t just fall from the edge of a cliff — it was pushed

Financial Post ~ May 2nd, 2017 By now most Canadians have likely seen the Home Capital Group Inc. stock graph, a Rocky Mountain plunge that began April 19 at $22 before hitting bottom a few days later at $6, wiping more than $1 billion off the value of one of Canada’s most successful non-bank mortgage lending enterprises. In the inevitable media aftermath, Home Capital has morphed from an alleged local corporate scandal into a potential trip wire for a major meltdown in ...

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Mortgage rates continue to defy expectations as Trump runup fizzles

Globe and Mail ~ April 26th, 2017Here’s the least surprising news you’ll hear all day: Interest rates are not doing what most experts predicted.Mortgage rates blasted off after Donald Trump’s presidential win last November. The narrative back then was that he’d trigger higher inflation and borrowing demand and potentially exacerbate credit risk – all of which are rocket fuel for interest rates.But since then it’s been anti-climactic. The Trump-inspired runup ...

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Wynne lays out plans to cool Ontario's sizzling housing market

CBC ~ April 20th, 2017The province introduced plans this morning aimed at cooling Ontario's surging real estate and rental market, with the goal of making housing "fairer and more affordable."Premier Kathleen Wynne said it's hoped the 16 measures will curb housing costs that are rising "way faster than people's paycheques.""It's about helping people to be able to buy a home, to be able to rent a home or to stay in the rental home they're in," she said.Many of the measures were reported earlier ...

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Ontario hints at measures to cool real estate market in the budget

Mortgage Broker News ~ March 27th, 2017Ontario hints at measures to cool real estate market in the budget Finance Minister Charles Sousa says the upcoming spring budget will include a package of measures dealing with housing affordability.The Liberal government has promised measures to help curb rising home prices in some markets, particularly in the Greater Toronto and Hamilton Area.Speculative investing in the real estate market _ buying a home in the hope of turning a profit rather than to ...

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Mortgage gap created by the posted rate leaves homebuyers with a decision to make

Financial Post ~ March 22nd, 2017Call it the gap between what you have to pay and what you can afford to pay — it’s going to be considerable when you qualify for your next mortgage. Now the question is what should you do with that money?Ottawa tightened mortgage rules in October and the one requirement that has disrupted the lending world is the stipulation that consumers qualify based on the Bank of Canada posted rate for a five-year fixed-rate mortgage.That rate — it’s ...

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Millennials: Is buying a home in your 5 year plan?

Financial Post ~ February 24th, 2017Buying a home is one of the largest and most important investments you’ll make in your lifetime; home ownership is still the single largest source of savings for Canadian households, as every payment you make builds equity. If you’re hoping to purchase a home in the next five years, or sooner, there are some key steps you should take to ensure you’ll be able to reach your goal of home ownership.Know your current credit score and improve ...

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When it comes to your mortgage, don't forget to consider the term

BNN ~ February 20th, 2017OTTAWA -- You shopped around for the best deal on your mortgage and weighed the pros and cons of going with a fixed-rate or a variable-rate loan, but another key factor to consider is the term.A majority of borrowers opt for a five-year mortgage -- about 54 per cent according to Mortgage Professionals Canada -- but experts say homebuyers need to consider how long they want to commit to when it comes to their loan.James Laird, co-founder of interest rate-comparison ...

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Mortgage Rates Are Trending Up - Should You Worr

Forbes ~ February 14th, 2017Unless you plan to buy your home with cash (lucky you!), it's important to know what's going on with mortgage rates these days. The bad news is that they are rising. The good news is that they have been at historic lows since the housing market crashed nearly 10 years ago — and they are still low. But since they probably won't stay this way forever, let's take a moment to learn what rate hikes could mean to you.Should you hurry to buy a home?When rates start to ...

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Term Our Rate Bank Rate
2 YEAR 6.14% 6.94%
3 YEAR 5.99% 6.74%
4 YEAR 5.69% 6.59%
5 YEAR 5.44%* 6.64%
5 YEAR variable 6.20%* 7.20%
05 Sep 2023

*Special conditions apply. Interest rates are provided for information purposes only and are subject to change without notice.

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