Be A Savvy Home Buyer

🔹Contact your mortgage broker 🔹Lock in a rate for a specified period  🔹Protect yourself from upcoming rate increases while you find a home 🔹Save some $$$ Raj Bajwa Real Estate Broker | ABR, SRS ​Mobile​: ​4​16​.​830​.​8305 | Office​: ​ 905​​.​499.8800 Facebook | Instagram | LinkedIn |  Google Reviews  Find Your Home Value Providing professional real estate services including home selling, buying, investing, and

Mortgage – Bank of Canada Increases Rate

Bank of Canada has raised the key lending overnight rate by 0.25%.  The new rate of 0.75% is still low even though it has gone up by 0.50% in the last two months. Bank of Canada is also forecasting a “more gradual” economic growth in Canada over the next two years. The rate increases helps

BMO Lowers Mortgage Rates

Should there be a negative or positive push on the interest rates with the following two news items? 1. Canadian job market has record growth in June? 2. New home starts have dropped in June? Well, BMO is lowering rates on some of its mortgage products with 5 year fixed rate dropping from 4.15% to

Mortgage Fraud – Co-sign With Caution

Thinking of helping that person secure a mortgage for a home? Think twice….or thrice…or more. Becoming a co-signer on a mortgage could be a real headache (read FRAUD) and it could come back to haunt you legally, financially, and mentally.  Your trust (or in some cases…greed) could lead to great damage to your reputation and

Bank of Canada Raises Interest Rate

Stimulus ends here… Bank of Canada leads G7 in hiking the key interest rate…The increase of 25 basis points is the first since July 2007… Banks should follow suit shortly and raise their lending rates… Canadian economy is booming…housing activity is slower but still very solid…then there is the market uncertainty, specially the Euro zone

Hybrid or Combination Mortgage Option

There are several types of mortgage options in the market such as fixed, variable, open, close etc.  Many Buyers stick with variable mortgage while the rates are low and then lock in for fixed rates once the rates start moving up. Combination of variable and fixed mortgage offers the flexibility of enjoying lower rates along

Vendor Take Back Mortgage

Vendor (seller) Take Back (VTB) is a viable option when financing a property…Many Buyers (or even Sellers) are not aware of this option but many savvy Sellers use it as an attractive marketing tool to sell their property… VTB is more common in commercial than residential real estate.  In residential market, VTB can certainly help