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Mortgage Broker News | 15 May 2015, 09:15 AM Agree 0
Recently released data by one big bank points to Canadian preferences for mortgage products points to a need for more education among homebuyers, suggests one broker.
  • Ron Butler | 15 May 2015, 10:11 AM Agree 0
    It is certainly true on average over the last 2 decades clients with Variable Rate mortgages have paid less interest, had lower penalties to break a mortgage and enjoyed more flexibility with refinance options. Variable has been a winner for a long time.
  • John Woods | 15 May 2015, 02:10 PM Agree 0
    A self serving bank recommendation.. I am shocked
  • Matt | 15 May 2015, 06:15 PM Agree 0
    This whole publication is self-serving... a bunch of blow hards that pitch themselves as white knights of the mortgage industry when in reality the majority are snake oil salesmen. Broker market share slipping means the rest of teh canadian public tends to agree...
  • errol | 16 May 2015, 09:21 PM Agree 0
    Do you know guys when is this fricken market going to crash finally. I want to buy my daughter a house, but don't want to get gauged.
  • Omer Quenneville | 17 May 2015, 10:49 AM Agree 0
    Errol, I have had clients wait decades waiting for the market to crash. Timing the market is very difficult. The best time to buy is when you find a house you like the and numbers make sense. Imagine if you bought a year or two ago, the equity you would have today. Even if the market goes down, you would most likely have enough equity to cushion. If the market corrects and interest rates go up, most likely it will cost the same to carry the property because of the higher interest rate. When you consider real estate is a long term investment and best hedge against inflation, don't wait. She got to live somewhere.
  • Omer Quenneville | 17 May 2015, 10:49 AM Agree 0
    Errol, I have had clients wait decades waiting for the market to crash. Timing the market is very difficult. The best time to buy is when you find a house you like the and numbers make sense. Imagine if you bought a year or two ago, the equity you would have today. Even if the market goes down, you would most likely have enough equity to cushion. If the market corrects and interest rates go up, most likely it will cost the same to carry the property because of the higher interest rate. When you consider real estate is a long term investment and best hedge against inflation, don't wait. She got to live somewhere.
  • errol | 17 May 2015, 04:21 PM Agree 0
    What equity? These non-sense numbers are hardly expression of a value so what equity are you referring to? I don't really care about mortgage rates as I don't need one. Every house I bought so far I bout for cash. Omer, I don't think I will ever buy in to your opinions and I will never look at price from the affordability point of view. You can try selling that to 5% down guys with not much to lose. There are plenty of those cowboys shooting from the hip. I don't need to do that.
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