Data on why oil prices collapsed
Below is the entire Forbes article and link it.
Summary is there was too much oil and the prices came down. Prices should slowly go back to about $70 a barrel – which is just fine. This is great news!
1 Graph Shows Why Mortgage Rates Are Lower in Jan 2015
The graph below shows why rates have found what we think is a short term low. This will not last forever so be sdure to get a rate hold now!
30 day Canadian Mortgage Bond (CMB) trend – below
Interest rate predictions are tough
I found this in a retirment planning post ….
Every year since 2009, experts have predicted that “rates have nowhere to go but up,” only to be confronted with what seems to be perpetually low rates.
Variable rate mortgage – how payments will change for the new rate
We are getting many calls on this so here is how it works for MOST of the banks.
The Bank of Canada (BofC) reduced their Prime rate by 1/4 % or .25% last week to 0.75% from 1% where it has been for about 3 years.
ATB = collateral mortgage registrations too
ATB – Alberta Treasury Branches – is registering their mortgages are collateral mortgages.
Are you sure you want one of these?
Have a look at the previous articles showing why the banks want you to have this, and you do not want it:http://blog.markherman.ca/?s=collateral
32 Mortgage Experts Give their Top Tips for Home Buying
Joe Samson & Associates of CIR Realty asked 32 top mortgage experts our tips for home buying. The results are interesting for sure. And I do agree with most all of what they say.
A great set of top mortgage tips for sure.
2014: #1 Mortgage Brokerage in ALL of Canada! AGAIN!
Yeah!
Mortgages are Marvellous just won the #1 mortgage brokerage for all of Canada, based on total value of funded mortgages at Mortgage Alliance, Canada’s largest SuperBrokerage with more than 100 offices and 1,800 agents from coast to coast.We also won this in 2013 so this is 2 years in a row.
My bank REALLY REALLY REALLY wants my mortgage! Really?
Does your bank really, really, really want your mortgage that badly?
Do you know why?
NOT because they make lots of money on mortgages.
NOT because the bank rep needs to fill their mortgage quota this month (this happens too.)
Wisdom from Kevin O’Leary, interst rates increases and housing demand
Kevin O’Leary – AKA Mr. Wonderful and self-proclaimed star of Dragon’s Den and Shark Tank – was speaking at our real estate conference yesterday. Surprisingly, he also used to be a professor at Ryerson’s School of Business so he does know more about what he is talking about then you would expect he does.
Alternative Canadian Mortgage Lenders
THE ALTERNATIVE LENDING MARKET IS GROWING!
According to data compiled by CIBC World Markets (based on Statistics Canada figures), the value of loans from alternative lenders has increased by 25% this past year. In comparison, the overall growth in the mortgage market for 2014 was 4%.