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BIG FIVE BANKS employees speak out about deplorable sales tactics… and it’s gone viral!
A news story from CBC has gone viral.   The BANK employees are under tremendous pressure to sell YOU products.  They will say and do almost anything, according to the CBC news article. For those of us working in Financial Services, this is old news.   Stories of high pressures sales and tied selling has […]

Panic buying? When will the housing market slow down?
  Houses selling over asking price is becoming the norm, these days.  Kinda crazy.  Sometimes a house is just listed under market value to attract a frenzy of buyers. An old tactic that has worked well in larger urban markets.  Today, that tactic is being used in smaller communities, too. What’s unclear is if this […]

Another example of BIG SIX BANK inflated penalty calculation.. $13,634.00! Wow!
 If you still think your local BANK is your best friend, think again.  Last week, one of my client’s discovered it would cost them $13,634 to exit their mortgage early.  Compared with only $2736 if they had chosen a BETTER mortgage Lender. Here’s the details..  The clients had a $395,000 mortgage balance remaining.  Renewal date […]

Finally, a tax break on Lander transfer tax.
Did you get a larger Land Transfer Tax rebate? If you bought a home this year, and you’re a first time home buyer, then you’ll pay less tax..   The Ontario provincial govt has doubled the rebate from $2,000 to $4,000.   The rebate is for qualified first time home buyers only. They also eliminated […]

Coming soon…Higher CMHC premiums March 17, 2017
This is not a recording.  CMHC is increasing their premiums for the 3rd time in 4 years.  Here’s what it will look like. Loan-to-Value Ratio Standard Premium (Current) Standard Premium (Effective March 17, 2017) Up to and including 65% 0.60% 0.60% Up to and including 75% 0.75% 1.70% Up to and including 80% 1.25% 2.40% […]

Debt diversification vs Debt consolidation…who wins?
ONLY IN CANADA Attention:  Bankers, close your ears.. we don’t want you to hear this.  Credit card balances, lines of credit, car loan, student loan, home reno loan, personal loan..   If you have one or more of these and you own a home, you’re probably losing money by paying a higher interest rate.  In […]

Mortgage rate outlook 2017.. Expect Fixed mortgage rates to go up…Expect Variable rate pricing to drop.
Fixed mortgage rates have increased by about 0.40% in the last 6 weeks.   Today’s 5 year fixed rates are at around 2.89% and will could continue to go up in 2017.   There are political and fundamental reasons why rates have gone up. (oh, by the way..  it’s not panic time.. who ever said that […]

Mortgage Brief.. Mortgages rules explained… and why didn’t the govt consult experts?
They say we don’t read emails or articles anymore.. we just skim through them.   But some things can’t be understood with a quick glance.  The new mortgage rules will impact EVERYONE! If you want to understand how they impact you, continue reading… If you don’t care or want to be oblivious, take the blue […]

Bi-weekly payment myth… it doesn’t pay your mortgage off faster.
For years, we’ve been told to pay our mortgage bi-weekly. Magically, it will  pay your mortgage off faster.  Hmm, let’s put that to the test. (SPOILER ALERT!)  Around 6 yrs ago, I wrote an article showing some simple but effective math to explain this.   I’m constantly getting emails from my readers asking me what […]

 

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