My name is Michael Fortin, and I have created this website to provide you with a better understanding of the factors involved in your mortgage decision, and provide tools to make your mortgage experience simpler. Each individual's circumstances are unique, and this website cannot cover every aspect of importance to you. Please feel free to contact me - at no charge - to discuss your personal circumstances. There is no commitment on your part, and all information is kept confidential.
July 27, 2010
With rates low, is it time to reconsider your mortgage?
Fiona Anderson, The Vancouver Sun
VANCOUVER - With mortgage rates low and more likely to go up than down, some borrowers may want to think long and hard about whether they want a long and hard — fixed, that is — mortgage rate.
July 20, 2010
Bank of Canada increases overnight rate target to 3/4 per cent
OTTAWA – The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.
June 14, 2010
Forget market timing, buying a house is about life timing
Garry Marr, Financial Post
'You know, you're making the biggest mistake of your life. The housing market is going to fall."February 18, 2010
New Mortgage Lending Rules
On April 19 our government will lay down three major rule changes to "prevent" a housing-price bubble and keep homeowners from getting "overextended."
These new rules apply to government-backed insured mortgages only.February 01, 2009
Extended amortization periods may allow you to qualify for a larger mortgage. The longer the amortization period, the smaller the monthly payments and hence the larger property you can afford.
| Mortgage Rates - July 22, 2010 |
|---|
| 1 Year Fixed | 2.54% |
| 2 Year Fixed | 3.09% |
| 3 Year Fixed | 3.50% |
| 4 Year Fixed | 3.89% |
| 5 Year Fixed | 4.09%** |
| 7 Year Fixed | 5.15% |
| 10 Year Fixed | 5.49% |
| Closed Variable | 2.15% |

