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Increase in CMHC Mortgage Loan Insurance Premiums — Key Facts

 

Mortgage loan insurance helps protect lenders against mortgage default and enables consumers to purchase homes with a minimum down payment of 5% with interest rates comparable to those with a 20% down payment. Mortgage loan insurance is typically required by lenders when homebuyers make a down payment of less than 20% of the purchase price.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Joe Oliver tells realtors Ottawa will stay out of housing market because no bubble seen

 
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Canadian Finance Minister Joe Oliver said he’s confident the country’s housing market isn’t in a bubble, setting aside any further action to curb activity.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Stephen Poloz warns impact of oil shock on economy may take years to work itself out

 
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OTTAWA — Stephen Poloz readily admits Canada’s recovery from the 2008-09 recession “has been a long voyage, and it isn’t over yet.”

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

How the bond market meltdown could push fixed mortgage rates higher

 
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With the potential of rates increasing, I would suggest that clients start protecting their pre-approvals, potential refinance that may be happening in the next 120 days, and renewals that are happening in the next 6-8 months.  At the very least you will be protected at no cost and still make a choice of not taking the new mortgage. Contact The Mortgage Centre Kitchener Waterloo anytime and start the process!  No cost to you and a professional in your corner looking after your best interest. 

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Household debt growing in Canada, but home values also rising: report

 

The good news is that the values of homes are rising which is outweighing the growth of consumer debt.  With this in mind, consumers who are thinking of leveraging their home as security to consolidate debt, purchase vehicles or any other large purchases, should ensure they are well informed on the dangers of this type of transaction.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

New bank fees target kids' accounts and allow 'double-dipping,' say customers

 
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Don’t the Banks make enough profit! Now they are charging for Mortgage Payment transactions.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Shopping for a first mortgage? Arm yourself with research and negotiate

 
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First-time home buyers shopping for a mortgage have all the technology at their fingertips to make informed decisions, and financial experts say those resources should arm them with enough knowledge to prepare themselves, and even negotiate a better rate.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Canadian home sales revive in March

 

OTTAWA — Low mortgage rates helped boost the number of Canadian home sales in March by 4.1 per cent compared with February, according to the Canadian Real Estate Association.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Poloz reiterates bright outlook as Bank of Canada holds key rate

 
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Bank of Canada Governor Stephen Poloz says there’s a brighter future ahead if people can look beyond an economy that’s teetering on the brink of outright contraction.

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365

Fixed vs Variable poll by CIBC

 
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The Mortgage Centre Kitchener Waterloo is offering a 5 year full featured 120 day pre-approved rate at 2.69% with guaranteed lowest rate when you purchase.  

Richard Kitts, AMP
President/Mortgage Broker
Tristar Funding Corporation o/a The Mortgage Centre
rkitts@mortgagecentrekw.com
519-743-4365
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