Posts from the ‘Product Commentary’ Category

  • Not All Variable-Rate Mortgage Contracts Are Created Equal

    Monday Morning Interest Rate Update for May 28, 2018

    Canadian borrowers are well advised to look carefully at the terms and conditions in their mortgage contract because two mortgages with the same headline rate can come with very different associated costs. To help in that regard, today’s post highlights five important questions to ask when evaluating variable-rate mortgage products.

    Continue Reading

  • Lenders use additional scrutiny when underwriting large mortgage loans, and most will apply a sliding scale on large conventional loans which limits the amount you can borrow. Today’s post details how sliding scales work and offers some other useful tips to anyone considering a mortgage of $750,000 or more.

    Continue Reading

  • The Best Mortgage Product No One is Talking About

    Last Updated on December 14th, 2018

    Conservative borrowers who prefer fixed rates almost always choose a five-year term. In today’s environment, I think there’s a much better deal to be had, even if no one is talking about it. In today’s post, I make my case.

    Continue Reading

  • Mortgages for New Canadian Immigrants

    Last Updated on December 11th, 2018

    If you or someone you know is a new immigrant to Canada, you may be surprised at the attractive mortgage options that are available at competitive market rates. To learn more, check out today’s post.

    Continue Reading

  • Home-equity lines-of-credit (HELOCs) and open variable-rate mortgages are tempting to borrowers because they can be paid off with no penalty. Are they worth it? Using current interest rates, today’s post puts the numbers to the test and compares the cost of open- vs. closed-term financing solutions. As you will see, the results are both surprising and definitive.

    Continue Reading

  • The Mortgage Deal of the Week

    Last Updated on November 10th, 2017

    Today’s post introduces a new feature on our website called “The Deal of the Week”, which highlights the best mortgage deal currently available. Our inaugural offer is one of the best to come along in a very long time.

    Continue Reading

  • Canadian Reverse Mortgages Explained

    Last Updated on December 10th, 2018

    Reverse mortgages are growing in popularity as an increasing number of baby boomers reach retirement age. While categorized as a mortgage, this type of loan has unique characteristics that make it quite different from other forms of traditional financing. Today’s post explains how reverse mortgages work and examines the strengths and weaknesses of this financing option.

    Continue Reading

  • 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.

    Continue Reading

  • Hybrids – The Safe Mortgage

    Last Updated on November 10th, 2017

    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.

    Continue Reading

  • The Variable-rate Mortgage – Temptress to Us All

    Last Updated on November 13th, 2017

    Ahh, the variable rate mortgage, temptress to us all. It offers you the lowest borrowing cost in exchange for the security of your locked-in rate. History shows that variable has been the right call for Canadians about 90% of the time, but for the other 10% of the time, history also shows you would have […]

    Continue Reading

Sign up for Dave’s Monday Morning Updates
To get regular updates from Dave the Mortgage Broker, please sign up below.