• In the past week, I have met with two different clients who have recently signed up for loans of $20K - $30K with interest rates around 30%. In both cases, the loans were registered as second mortgages without the client fully understanding that this[...]

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    I hope that everyone is having (and has had) a good summer. September is approaching far too quickly and the memories of heading back to school are still fresh in my mind. This was never a fun time of year as a child, knowing that summer was winding [...]

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    While my focus is on the financing side of a home purchase, it is interesting to note the challenges that prospective homebuyers are currently facing in the hot Kingston market. For the past few months, we have seen houses selling within a day, [...]

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    The government agency that regulates mortgages in Canada (The Office of the Superintendent of Financial Institutions) made several dramatic changes today that everyone should be aware of. If you're planning on moving or refinancing in the near [...]

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    Rate Increase

    Jul

    13

    Interest Rate Increase If you have not yet heard by now, the government increased the overnight rate yesterday by .25% to .75%. In turn, the banks have increased their prime lending rate by .25% to 2.95%.  This increase actually only affects [...]

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    Without question, the past few months in the mortgage industry have been challenging. There have been numerous changes that have completely altered the mortgage lending landscape. Here is a summary of the changes we have seen: 1) Stress Test: As [...]

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    Are you thinking of selling? You’d think it would be as easy as placing a “For Sale” sign on the front yard and waiting for the offers to roll in, but for most homeowners the process is a bit more complicated. Unless you keep your home in [...]

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    As you may have heard by now, the government introduced some important changes this week that will have a fairly significant impact on the mortgage industry going forward. The changes were not expected and seem to have come out of nowhere, with [...]

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    Any time I sign up new clients for a mortgage, we always spend a lot of time discussing property taxes. We come to the point in the meeting when the client has to decide to either pay the property taxes with the mortgage payments or on their own. 90%[...]

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    If you are currently selling your home, then you know importance of "curb appeal". There are a variety of ways to enhance the curb appeal of your home, whether you are selling or just want to make things look nice for the summer. HGTV put together[...]

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