What Happens When Access to Equity Becomes A Valuable Commodity?
This week the Minister of Finance announced some changes explicitly designed to slow the Canadian housing market. In response to a slowing economy brought about by the new regulations, and the onerous capital requirements of the regulations themselves, Banks will overreact in order to please the financial markets, tightening credit just as we saw with […]
What is bridge financing? Do you what to know the benefits of Bridge financing? How to use it properly
Congratulations! You’ve found your dream home! There is a problem, though: the owner of your dream home has to close the deal within a month, and you can’t sell your current property that quickly. Enter bridge financing, your best way to seal the deal. This type of financing is a hefty short-term loan that serves […]
What is home equity? How to Increase the Value
Simply put, home equity is the share of the home you own outright. It’s the market value of your home minus your debts. These debts could be what’s left on your mortgage, your home equity line of credit, and/or other secured loans. Let’s say you bought your home for $600,000 with a $200,000 down payment […]
What Your Bank Doesn’t Want You to Know
Because we, at Morcan Direct, like to keep our clients informed we’ve compiled a list of some pertinent information your banks would prefer you didn’t know: For more detailed information on any of the items below, feel free to contact us at 416-214-9000 or Contact us now
When Is The Best Time To Lock Into One Of These Low Fixed Rate Mortgages?
We have been featuring fixed rate mortgages as low as 3.89% on a 10 year and 2.94% on a 5 year fixed rate. These rate specials come and go as the yield on the Government of Canada 5 year Bond oscillates. Although it is my belief that rates will not move lower than they are […]
Why You Should Use A Broker
According to the Bank of Canada, home buyers who work with a broker save more money than those who work directly with a bank. And when you think about it, brokerages like MorCan Direct are much more likely to help you Here’s why: What is your home worth? Banks are Driven by Profits—and Profits Only […]
Will the first-time homebuyer incentive benefit Torontonians?
Over the next 3 years, the Canada Mortgage and Housing Corporation (CMHC) could spend an estimated $1.25 billion dollars on the First-Time Home Buyer Incentive (FTHBI). The incentive is intended to increase home ownership affordability for Canadians with incomes at or below $120,000 per year. Here’s the deal, the CMHC will provide first-time home buyers […]
Will You Qualify For Your Mortgage After November 30th, 2016?
There are new mortgage rules that you probably have not heard about yet. What is your home worth? The Canadian housing market is just beginning to adapt to the new mortgage regulations that took effect on October 17th, regulations that have received a lot of news coverage for their potentially outsized impact on first-time buyers. […]
Your Next Mortgage Rate and The CoronaVirus
It feels really strange writing about a tragedy that is affecting millions of people and only considering its economic impact on Canadian mortgage rates. Hopefully, this article helps you save some money on your mortgage, of which you can donate to one of these incredible charities who are trying to help people affected by the virus. First […]
Industry-leading Leading Loan to Value. Here is the 2 Important Reason to Invest – Cannect MIC
Cannect’s Mortgage Investment Corporation portfolio currently has a weighted average LTV of 54%. Most MICs will hover around the 65% to 75% range. Staying conservative with our LTV is part of how we keep your money safe. That will always be priority #1. In the realm of finance, the concept of Loan-to-Value (LTV) is a critical metric […]
