Housing Continued to Surge in January   Today the Canadian Real Estate Association (CREA) released statistics showing national home sales hit another all-time high in January 2021. Canadian home sales increased 2.0% month-on-month (m-o-m) building on December’s 7.0% gain. On a year-over-year (y-o-y) basis, existing home sales surged 35.2%. As the chart below shows, January […]

Here are some of the top reasons why people refinance their mortgage. To consolidate high interest rate debt. To get a better mortgage rate and lower payment and interest costs Increase their mortgage amortization to lower their payment. Access home equity through a home equity line of credit. For the down payment of a new […]

A common question that clients have is how does a mortgage broker get paid?  There is a very big misconceptions that mortgage brokers always charge a fee.  This is rarely the case.  There are instances where we do, but over 90% of the time we are paid directly from the lender. Brokerage Fees & Compensation: […]

A Mortgage Broker Is Going To Give You The Best Mortgage That Meets Your Needs & Potentially Save You $1000s Of Dollars In Unnecessary Fees & Interest.   As Mortgage Brokers, we strive to educate consumers, REALTORS and all other Real Estate Professionals as to what a Mortgage Broker does.  As we are all independent […]

We recently had one of our REALTOR partners ask us if we could explain the difference between being PRE-QUALIFED VS. PRE-APPROVED. Different lending institutions are going to use the terms differently and even interchangeably.   However for us at the Mainstream Mortgage Team these terms mean. PRE-QUALIFIED: We would use this term for a client who […]

What will the real estate industry look like in 2021? If there is one word that defines life in 2021, that word is change. How much and for how long is uncertain. And while some changes may be temporary, many may be here to stay. How will all of this change impact the real estate […]

Federal Fiscal Update–Finance Minister Freeland’s Debut   Justin Trudeau’s government, which has delivered the biggest COVID-19 fiscal response in the industrialized world, announced plans for another dose of stimulus and vowed to continue priming the pump as long as needed. Finance Minister Chrystia Freeland unveiled $51.7 billion of new spending over two years in a mini-budget Monday, […]

Throne Speech: Canada’s Response to COVID-19   Prorogation on August 18, following the resignation of Finance Minister Morneau, a new session of Parliament, and a new speech from the throne was meant to allow the government to hit the reset button. And for Prime Minister Justin Trudeau, to try and move past the summer of controversy […]

https://globalnews.ca/video/7254618/mortgage-deferral-deadline-looming

MIDTERM MORTGAGE TRANSFERS: In today’s low interest rate environment, a mid-term mortgage transfer could be an amazing way for you and your family to save thousands of dollars in interest. Many borrowers don’t think they are able to transfer mid-term, however, it is possible. To consider this as an options we need to make sure […]