| Term | Bank Rate | Our Rate |
| 1 Year | 7.84 % | 6.74 % |
| 2 Year | 7.34 % | 6.09 % |
| 3 Year | 7.14 % | 4.79 % |
| 4 Year | 6.99 % | 4.99 % |
| 5 Year | 7.04 % | 4.74 % |
| 7 Year | 7.10 % | 5.59 % |
| 10 Year | 7.25 % | 5.84 % |
I had the pleasure of training a few new Mortgage Planners yesterday in our office. One of the most interesting topics that was discussed was “Isn’t equity and stated income financing the same?” The answer is “NO”. Let me explain. Many institutional lenders (banks, credit unions, etc.) and all three mortgage insurers (CMHC, Genworth & AIG )
This past Saturday on the Radio Real Estate Show I suggested that people look beyond just the rate they would be getting on their variable rate mortgage. It is important to look into details such as what the conversion rate would be if you chose to lock-in, is the rate compounded monthly or semi-annually, etc. Too
Back in August I was asked to comment on Radio Real Estate Show about Mark Carney’s, the Bank of Canada governor, statement that the recession was over. At that time I said that time would tell to see if he was right. Based on most recent data it appears he was accurate. In a news
