The Mortgage Gal

Now is a good time to get a mortgage rate hold

Jan 17, 2022 / 11:00 am

Fixed mortgage rates are on the rise. Don’t panic. I will say that if you are seriously considering buying in the next few months its likely a good time...

New year is a good time to take a closer look at your mortgage

Jan 3, 2022 / 11:00 am

Towards the end of each year I carve out time to look back on how the past year went. I think about what went well, and what I’ve accomplished. I also...

Mom of new homebuyer recognizes broker's commitment to client

Dec 20, 2021 / 11:00 am

I had one of the weirdest compliments of my career this week. I met with a young first-time home buyer and her mother to go over her mortgage commitment and...

It pays to check your credit score when house hunting

Dec 6, 2021 / 11:00 am

The second time was the charm. In August, I had a call from a couple looking to buy their first home. On the surface their application looked amazing. They were...

Dealing in a housing market with multiple offers can be stressful

Nov 22, 2021 / 11:00 am

A topic that popped up multiple times over the last two weeks is multiple offers. They are the good, the bad, and the ugly of multiple offer situations....

What will the impact of B.C.'s new real estate purchase 'cooling off' period be?

Nov 8, 2021 / 11:00 am

On Nov. 4, the Province of B.C. issued a news release outlining the plan to introduce legislation in the spring of 2022 to implement a cooling off period for...

In the current market, buying or selling a home can be stressful

Oct 25, 2021 / 11:00 am

Over the last few months I’ve talked about the pressure that home buyers are facing in our current housing market. Clients trying to buy homes are facing...

When it comes to mortgages rate is not always a deciding factor

Sep 27, 2021 / 11:00 am

Over the last two weeks, we’ve seen several lenders drop their fixed five-year interest rate. When deciding where to place my clients’ mortgages,...

Check your credit before applying for a mortgage

Sep 13, 2021 / 11:00 am

In the past I’ve talked about the importance of connecting with a mortgage professional before you head out shopping for a new home. Even if you...

Right time to buy a home?

Aug 30, 2021 / 11:00 am

Over the last year and a half or so I have watched multiple clients scrimp and save and try to figure out how to buy a home given their budgets and the...

There is a time and place for reverse mortgages

Aug 16, 2021 / 11:00 am

From time to time I have calls from clients who are retired or self-employed that have substantial net worth but little income on paper. These clients often own...

Buying a home together

Aug 2, 2021 / 11:00 am

It feels like the combination of outrageous rental rates, the stress test, and a hot housing market has pushed clients to find more creative ways to qualify for...

Stress test hasn't changed

Jul 19, 2021 / 11:00 am

Canada Mortgage and Housing Corporation (CMHC) recently reversed a policy decision implemented in July 2020. We’ve had a flood of calls asking if this...

Risky subject-free offers

Jul 5, 2021 / 11:00 am

When you start down the road of buying a home there are many new and unfamiliar terms you may hear. Arguably, some of the most important things you need to...

No isn't always no

Jun 21, 2021 / 11:00 am

Over the last few weeks I’ve had a few (pleasant) surprises with files I’ve been working on. When I take new applications from clients, I ask for...

Real-estate craziness

Jun 7, 2021 / 11:00 am

I’ve been doing a lot of thinking lately about the benefits of home ownership. Recent events have driven home the importance of family, stability, and...

Mortgage rules tightening

May 24, 2021 / 11:00 am

During the last few weeks, we have been waiting for an announcement regarding the mortgage stress test rate. That announcement came last week. Effective June 1,...

New mortgage or refinance?

May 10, 2021 / 11:23 am

After the last few months of craziness in the housing market, I’m hearing from clients reevaluating whether they still want to upgrade to a newer or...

Mortgages going sideways

Apr 26, 2021 / 11:11 am

This morning, on one of our broker forums, I read a question from another broker. He asked which lender would be able to finalize a mortgage for April 30 if he...

Mortgage rules changing

Apr 12, 2021 / 11:00 am

The Superintendent of Financial Institutions (OSFI) announced changes to mortgage qualification rules, on Thursday. The proposed change is set to come into...