A simple place for writing
Mortgage tree • #205, 1680 40th ave sw. • Calgary, alberta • (403) 510-0455
Come see me for your next mortgage or renewal.
Whether you are buying your first home, refinancing, investing in a rental property, purchasing a second home, transferring your mortgage, or accessing private funds - I am here for help.
The Bank of Canada’s conventional five-year fixed posted mortgage rate is the mode (i.e., the most common occurring number) of the conventional five-year fixed mortgage rate advertised by Canada’s six largest banks. The rate is updated weekly and is available on the Bank of Canada’s website (CANSIM table 176-0043). The Bank of Canada’s posted rate is typically higher than the contract mortgage rate most buyers actually pay. As of February 9th, 2017, the Bank of Canada posted rate was 4.64 per cent. (click the link above to see 'Interest Rates' and look at the 'Conventional mortgage - 5-year') and the prime rate was at 2.70%.
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"I like my coffee.... like most people like their mortgages. Knowing it's consistent, smooth and reliable no matter how it comes!"
We've got some help! MPC (Mortgage Professionals of Canada) are regularly meeting with the federal government to help you (the home buyer) find it a smoother and easier transition to getting your mortgages. Why use a mortgage advisor? Because we stay up to date on this information, and make it easier for you to understand!!!
Mortgage Professionals Canada has asked the Department of Finance for a moratorium on mortgage rule changes until the effects of the current changes are known.
Speaking before the Standing Committee on Finance this week, MPC CEO Paul Taylor spoke to the association’s key concerns about the new rules and its hope that certain aspects will be revisited.
“The recent changes are having a cumulative negative impact on the mortgage market and ultimately on the Canadian consumer,” MPC president and CEO Paul Taylor said. “We are asking for slight amendments to the portfolio insurance eligibility guidelines, and to wait for the remaining existing changes to make their way through the market before implementing any further changes.”
He touched on the disproportionate impact the portfolio insurance changes are having on non-traditional bank lenders, as well as the reduced purchasing power for young homeowners due to the more stringent stress testing of insured mortgages.