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July 27, 2010

The Income Tests

If you need a mortgage, your household income will be the single most important part of your application. Today's post outlines how lenders conduct income tests and explains the standards that are used. It also examines special cases where confirming income is more difficult, and provides some tips to help you put your best foot forward.
July 13, 2010

The Liquidity Trap

Can rock-bottom interest rates be bad for the economy? It depends. If left low for too long, dangers can emerge, and chief among them is the liquidity trap. To learn more, check out today's post.
July 6, 2010

Mortgage Financing for Vacation Properties and Second Homes

If the current heat wave has you thumbing through the cottage listings and yearning for an escape, then today's post on financing for vacation properties and second homes will be of interest. We give you an overview of what lenders are looking for and offer some perspective on how they view these deals.
June 15, 2010

Hybrids – The Safe Mortgage

Are we headed for deflation or inflation? If it's deflation, choose variable, but for runaway inflation, go fixed. Can't decide which scenario is more likely when even the experts don’t agree? If you’d rather hedge your bets, consider my safe mortgage approach.
May 26, 2010

Being Mark…

Mark Carney and the Bank of Canada will meet next Monday to make the most anticipated interest rate announcement in years. Today's post explains how the overnight rate works, why it is important, and makes a prediction about what Mr. Carney will do.