In toronto mortgage, Bank of Nova Scotia (BNS.TO), Canada’s third-biggest lender, has pulled back on mortgage lending in its domestic market, potentially insulating itself if house prices fall in Vancouver and Toronto. In toronto real estate, Canada’s banks face heightened scrutiny of their mortgage underwriting practices as authorities try to tackle the potential threat […]
mortgage financing
2nd mortgage @20% interest in Toronto and high cost when falling behind – McLean’s story
In toronto real estate, O’Neil McLean is a tenacious entrepreneur who thought a second mortgage would give him some breathing room to catch up on bills after he depleted his own savings to bootstrap a business venture. Instead, that loan has ballooned to three times what he originally borrowed, has dragged him through a […]
30 year mortgage becomes new norm in Toronto and Vancouver with soaring home prices
The loans with 30-year amortizations, as opposed to 25 years, are slowly becoming the norm for consumers with a down payment of 20 per cent or more. That segment of the market is often referred to as the less risky, low-ratio mortgage market: Since the loans have more equity, it takes a more pronounced […]
Add your mortgage lender in your big-reno team
The home renovators should consider the lending requirements of the of financial lenders first. Banks and other lenders don’t care about homey aesthetics, paint colours or kitchen fixtures. Their taste squarely revolves around whether a house that needs refinancing for a renovation is more or less livable, and not a construction site. Mortgage brokers explain that […]
The reasons Canada’s interest rates might stay low
The Bank of Canada governor expressed confidence that regulatory changes were limiting home loans to those best able to finance them. It was the clearest statement yet that the central bank’s controversial decision to keep interest rates ultra-low won’t be altered over worries about a housing bubble or rising household debt levels. Unlike […]
