It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

Not everyone’s financial situation is the same, that’s why The BestRateGuys.com works with many lenders across Canada and CMHC to provide many different financing options.  Hereunder is a list of options available and the guidelines that the lender and CMHC look for when underwriting the mortgage.

Purchase Enables homebuyers to purchase a home with a minimum down payment of 5 per cent. Apply now.

Portability
Allows borrowers to port the CMHC Mortgage Loan Insurance from an existing home to a new home and in some cases save money by reducing or eliminating the premium on the financing of the new home. Apply now.

Refinance
Allows borrowers to refinance their mortgage and use the money for any purpose other than default management. Apply now.

Improvement
Offers greater choice to borrowers who are building new homes or who want to undertake small or large scale improvements to existing homes. Apply now.

Line of Credit
Provides borrowers with more flexible repayment options than traditional mortgages. Apply now.

Self-Employed
Allows self-employed borrowers, with or without traditional forms of income verification, to realize their dreams of homeownership. Apply now.

Newcomer
Provides newcomers to Canada, with permanent or non-permanent residence status, access,to CMHC mortgage loan insurance products through Approved Lenders. Apply now.

Green Home
Provides mortgage loan insurance for the purchase of an energy-efficient home or to make energy-efficient improvements to an existing home. Borrowers may be eligible for extended amortization without a premium surcharge and a 10 per cent mortgage insurance premium refund. Apply now.

Second Home
Gives borrowers with high ratio financing a chance to buy or refinance a second home using any CMHC homeowner product, without additional underwriting restrictions or premiums. Apply now.

Income Property
Provides investors with more housing finance choice when buying or refinancing a 1 – 4 unit rental property. Apply now.

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

TORONTO - Canadian home sales picked up in January from the month before and should accelerate further before tighter mortgage rules come into effect in March, says the Canadian Real Estate Association.

About 42,379 homes were sold on CREA’s Multiple Listing Services across the country, up 4.5 per cent from the 40,558 sold in December.

While sales were down 6.6 per cent last month from a record level reached last January, the national average price rose 4.5 per cent year-over-year to $343,675.

CREA suggested the figures indicate that buyers were willing to pay premium prices to snap up a house before a March 18 deadline that will put an end to the longest 35-year amortization mortgage periods, in an effort to curb consumer debt. The changes limit amortization periods to a maximum of 30 years, making mortgage payments more expensive each month.

This year’s real estate market appears poised to reflect a slightly less distorted version of last year, when sales spiked in the early months of the year before dropping to a trough in the summer as a series of regulatory changes impacted the market.

Sales activity kicked off the year on stronger footing, led by Toronto and Vancouver. On a seasonally adjusted basis, home sales reached the highest level since April 2010, CREA said in its monthly report Tuesday.

And using last year’s market pattern as a guide, the association predicted activity will be even more robust in February.

“We anticipated the recent announcement of tighter mortgage regulations, which will come into effect this March, would pull forward sales activity into the first quarter of 2011, particularly in some of Canada’s more expensive housing markets,” said Gregory Klump, CREA’s chief economist.

“The sharp rise in sales activity in Toronto following the announcement provides early evidence confirming this.”

However, it appears that the anticipated influx of buyers into the market will be offset by a growing number of new listings, keeping the market balanced.

This January marked the first time since 2007 that new listings more than doubled in the month compared to December. As a result, seasonally adjusted new listings rose 3.9 per cent from December levels, the largest monthly gain since March 2010, CREA said, adding that it had expected more listings in early 2011 as sales and prices have been stable since last fall.

Meanwhile, the association representing some 100,000 Realtors used the opportunity to warn the government that it should hold off on additional tightening measures to curb mortgage debt until the impact of the most recent changes are known.

“It will take some time before the longer-term impact of the latest mortgage regulations on the housing market can be known,” said CREA president Georges Pahud.

“For that reason, further action shouldn’t be taken until the impact can be measured,” he said in a release.

A powerful driver of economic recovery, the real estate market kicked off last year on a tear as buyers rushed into the market in advance of higher interest rates, new mortgage rules and a new harmonized tax regime in two provinces.

Some reports have warned that when interest rates rise, which many economists expect in the middle of this year, Canada’s real estate market could tank.

In the gloomiest report to date, Capital Economics analyst David Madani said earlier this month that house prices were just a few interest rate hikes away from a 25 per cent correction over the next three years.

Source: Metro

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

To obtain CMHC Mortgage Loan Insurance, lenders pay an insurance premium. Typically, your lender will pass these costs on to you. Your lender will give you the exact price when you apply for a mortgage.

The CMHC Mortgage Loan Insurance premium is calculated as a percentage of the loan and is based on the size of your down payment. The higher the percentage of the total house price/value that you borrow, the higher percentage you will pay in insurance premiums.

Remember: without mortgage insurance you may avoid the insurance premium but you’ll typically pay much higher interest rates and additional administrative fees. At the end of the day, for the vast majority of borrowers, the cost of CMHC Mortgage Loan Insurance is more than fully offset by the savings achieved.

A 10% premium refund and extended amortization period without surcharge may be available when CMHC Mortgage Loan Insurance is used to finance an Energy-Efficient Homes.

For portability and refinance, the premium is the lesser of Premium on Increase to Loan Amount or the Premium on Total Loan Amount. In the case of portability, a premium credit may be available under certain conditions.

* Premiums shown with an “*” do not apply for refinance. For portability the maximum LTV ratio is 90%, but CMHC may consider higher LTV ratios when the new ratio is equal to or less than the original LTV. For portability, the premium is higher for non-traditional down payments on Increase to Loan Amount.

** For conversion from Self-Employed with traditional 3rd party income validation to Self Employed without traditional 3rd party income validation, the premium is the lesser of: a) the Premium on Total Loan Amount or; b) the outstanding balance multiplied by a 1.5% premium plus the Premium on Increase to Loan Amount.

*** Down Payment Requirements – Traditional sources of down payment include: Applicant’s savings, RRSP withdrawal, funds borrowed against proven assets, sweat equity (<50% of min.required equity), land unencumbered, proceeds from sale of another property, non-repayable gift from immediate relative, equity grant (non-repayable grant from federal, provincial or municipal agency). Non-traditional sources of down payment include: Any source that is arm’s length to and not tied to the purchase or sale of the property, such as borrowed funds, gifts, 100% sweat equity, lender cash back incentives.

Premiums in Ontario and Quebec are subject to provincial sales tax. The provincial sales tax cannot be added to the loan amount

Source: CMHC website

It's about a choice The BestRateGuys.com provides Canadian homeowners with access to the hundreds of mortgage products available through Canada's many banks, trusts, credit unions and Mortgage Companies. Typically our services are free of charge, AND YOU, our customers can select from the best mortgages, at the best rates, available in the marketplace! You should insist on expert advice AND professional service. A typical Financial Institution will provide you with information on the mortgage products THEY sell; while we will help you decide which Financial Institution, and which mortgage OFFER, is the best one for you.

It's about making the right decision More and more Canadians are discovering that the best mortgage decision they can make is to choose to work with us.

Take the next step now and contact us to ensure you receive expert and unbiased advice - and the professional service you deserve.

Start now. Apply online, in person or by phone @ 1.866.RATE.033 and let us help get you into the home of your dreams.

The BestRateGuys.com lowest rate guarantee is our commitment to find you the lowest possible Canadian fixed mortgage rate in terms of your situation. If we can't at least match an offer made another financial institution we will give you a $50.00 gift card just for giving us a try. Really, what have you got to loose? Call us today to discuss your mortgage options. See terms and details of $50.00 give away offer. Interested in learning more about mortgages? Subscribe to our news and articles blog on our website. This will give you up to date mortgage information brought directly to your email inbox.

Check Us Out on Social Networking Sites

Or Click to Call Us

Sincerest Regards,

Paul Smith

Mortgage Agent

VERICO Designer Mortgages

www.BestRateGuys.com

FSCO Licence M09000027

OTTAWA, January 11, 2011 — The seasonally adjusteCanadian housing starts in December down 13.3% to 171,500 annual rate¹ of housing starts was 171,500 units in December, according to Canada Mortgage and Housing Corporation (CMHC). This is down from 198,200 units in November. Actual housing starts for 2010 are being verified and will be reported in the January edition of Monthly Housing Statistics.

“Housing starts moved lower in December due to the multiple starts segment, especially in Ontario,” said Bob Dugan, Chief Economist at CMHC’s Market Analysis Centre. “Single-detached starts were also down, but minimally.”

The seasonally adjusted annual rate of urban starts decreased by 13.3 per cent to 149,100 units in December. Urban multiple starts moderated by 20.1 per cent in December to 84,500 units, while single urban starts moved lower by 2.6 per cent to 64,600 units.

December’s seasonally adjusted annual rate of urban starts decreased by 45.4 per cent in Ontario and by 9.8 per cent In Atlantic Canada. Urban starts increased by 46.8 per cent in British Columbia, by 13.5 per cent in Québec, and by 0.7 per cent in the Prairie Region.

Rural starts² were estimated at a seasonally adjusted annual rate of 22,400 units in December.

David Onyett-Jeffries, Economist with RBC Economics says, “today’s reported drop in housing starts for December closes out 2010 with the slowest pace of monthly housing construction since August 2009 and marks the second consecutive quarterly decline. We expect housing starts to soften marginally from its fourth-quarter 2010 average in the first quarter of 2011 as housing market fundamentals continue to stabilize; however, this will represent a bottom in new-home construction, and we expect that the pace of starts will pick up modestly for the remainder of the year, therein leading residential investment to make a positive contribution to real GDP in 2011.”

Source: vericomagazine.com

Thinking about buying your first home or condo?  The BestRateGuys.com Team specializes in assisting first time homebuyers with arranging financing for their first home.  We work with over 50 lenders to find you the best possible mortgage rate available.  No matter what your situation is in life, we will do our best to arrange a mortgage for you.  As we say in the mortgage business; if you have a heart beat, you can get a mortgage.  The bank may have turned you down in the past, but we work with alternative lenders and in many cases can still arrange financing for you.  Don’t wait any longer apply now.  We guarantee to find you the best possible Canadian fixed mortgage rate or we give you $50 just for applying.  With interest rates at an all-time low, now is the best time to arrange your mortgage, or negotiate your existing mortgage.  If you have any questions about mortgages call us toll-free @ 1-866-728-3033 or text us @ 289-808-7285.  We are standing by to arrange your mortgage call now.

• St. John’s, Newfoundland experienced strong year-over-year gains in all three housing types: detached bungalows, standard two-storey and standard condominium
• Montreal saw an 8.7 per cent year-over-year increase in detached bungalows and two-story homes, while condos jumped 11.3 per cent
• Ottawa’s housing prices rose between 6.3 and 10 per cent in all categories
• Toronto’s largest increase of 5.6 per cent came in for two-storey houses; but prices are expected to rise by only one per cent in 2011
• All housing categories in Winnipeg had strong increases with detached bungalows rising the most at 10.3 per cent
• Average home prices in Regina are predicted to increase by five per cent in 2011
• Calgary and Edmonton are both poised for house prices rising with an energy sector recovery
• Meanwhile Vancouver prices are also expected to rise by 3.7 per cent in 2011

Now is a perfect time to negotiate your mortgage because the interest rates are at an all-time low.  Apply now online or call us today @ 1-866-728-3033.

Source: Mortgage Broker News

The rate on a five-year mortgage was a whopping 11.75 per cent the year I decided to buy my first house.

The price of a small semi-detached in south Riverdale was $160,000, modest by today’s standards.

And the cost of carrying the loan — about $1,200 a month — on a journalist’s paycheque made me wonder if I would ever go on another vacation, buy a designer dress, or eat out.

Still, I dove in to the market fearing, like many people at that time, that real estate prices in Toronto would soon soar out of the average person’s reach.

The year was 1987. I had a steady full time job, and a downpayment thanks to generous parents and a federal Registered Home Ownership Savings Plan. And I was tired of paying $800 a month in rent to live in a tiny one-bedroom apartment. I was helping pay down someone else’s mortgage.

We take it for granted now. Single women buy houses on their own all the time. But at that time, it was still a relatively unusual phenomenon.

My first stop was the bank, to get pre-qualified for a loan. I remember being shocked at how much I could afford to borrow. The rule of thumb, then as now, was you could carry up to 32 per cent of your gross monthly income in mortgage, property taxes and heating bills.

I would definitely need a roommate.

Even with a big loan, my budget at $160,000 was low by Toronto standards. The average house price was about $180,000 that year, according to Toronto Real Estate Board historic data.

House hunting proved to be a daunting experience.

I can’t remember now how many places I looked at; one in particular caught my imagination. A quaint little cottage in the Beaches, at $225,000, was way out of my reach. I still drive by it occasionally and think how perfect it would have been.

Reality dictated that I would end up in what was then called “south Riverdale,” at that time a somewhat dodgy area trying to capitalize on its proximity to the more fashionable Riverdale to the north.

There was a bar at the end of the street. And a biker club a few blocks away.

A colleague dubbed the neighbourhood “Leadville” in honour of the Canada Metal Ltd. plant a couple of blocks away. Now shuttered, the plant had left a legacy of contaminated soil. Not the kind of dirt you’d want your children eating off their fingers after a day in the backyard.

But the house, a three-bedroom semi in good condition, was listed for $169,000.The price fit my pocketbook. It was clear after months of looking that I wasn’t going to find anything better.

After some dickering, a conditional offer, and a home inspection, the deal was sealed for $160,000. A few months later, I moved in.

It was the best investment I ever made.

Not long afterwards, interest rates began falling. House prices continued to rise.

Two years later, just as the market was peaking, I got married and sold my little starter home for $225,000. Taking the proceeds, and with the help of our combined incomes, we invested in a bigger detached home in a nicer area.

The recession in the early ’90s took some of the shine off real estate for a few years.

But eventually prices resumed their upward trajectory. Mortgage rates continued to decline. Our family expanded to include two kids and we moved again, this time borrowing even more than our original mortgage.

Interest rates were so low we could afford to carry a lot more debt. Banks had become far more flexible about negotiating the rate of interest, especially for borrowers with good credit ratings or equity in their homes. And borrowers could spread their payments over a longer period, further reducing the monthly payment.

The bank fell all over itself trying to get us to borrow even more than we needed to pay for the house, saying we could use it to finance a cottage, a car, or vacation.

Today, a five-year mortgage carries an average rate of just 5.44 per cent, according to the Bank of Canada.

Starter homes like my first little semi-detached on Bertmount Ave. now fetch $469,000.

With prices so high, and interest rates so low, no wonder Canadians are carrying record debt loads.

And you can understand why Bank of Canada Governor Mark Carney frets. How will Canadians manage, and the housing market fare, when interest rates, inevitably, rise again?

At the moment Canadian mortgage rates are at an all time low.  If you are looking to be a first time home buyer, its a great time to get a low 5-year rate locked in.  The BestRateGuys.com team will obtain a pre-approval for you, which will lock in the lowest possible rate, in terms of your situation, for up to 120 days.  You can apply online or contact us toll-free @ 1-866-RATE-033. 

If you have an existing mortgage now is a great time to negotiate the rate.  Even if you are locked in, give us a call to see what we can do to help.  In most cases it works out to be cheaper to switch and have the new lender include the fees in your mortgage.  We are even offering a promotion where the legal fees are included with your refinanace.  Contact us today for more details. 

Source: The Toronto Star