If there’s one overarching lesson to take away from 2018 Digital Mortgage Conference last week, it’s the need for brokers and lenders need leverage the online consumer experience in order to compete. That’s what makes the sheer number of brokers and lenders who aren’t hooked up with the latest in mortgaging tech (the enterprise technology)...
Environics Analytics has completed a study that shows rising interest rates paired with a jump in household debt, is putting strain on homeowners’ finances. According to the research group, Canadians are really starting to feel the weight of the burden. Metro Vancouver, the host to an average $1,152 in interest charges per household last year,...
Clichés such as “what comes up, must go down” and “the bubble is going to burst” are only a couple of ominous phrases that can be applied to Canada’s housing market.
A Bermuda-based firm has launched an alternative mortgage peer-to-peer lending platform connecting buyers with investors who wish to fund their loan. In direct opposition with the traditional mortgage space, the firm known as Viva Network considers themselves pioneers and innovators in finance real estate. Viva says its alternative lending platform is the world’s first private...
With the central bank expected to play a passive role for the time being, there’s a 90 per cent chance interest rates stay put for September when the Bank of Canada comes to a consensus on monetary policy come Wednesday. However, there’s an 80 per cent chance of a rate hike next month. Come October,...
In general, 2017 is a good year for homebuyers to get a mortgage for their home purchases. However, there will be inevitable movements in interest rates because the Bank of Canada is finally ending almost seven years of frozen rates. It can be recalled that the Central Bank decided to stagnate interest rates in the...
There is a logical reason why home purchases are considered as major financial transactions—they are quite expensive. That is why new homebuyers have to wait several years until they become more financially prepared to take the big responsibility. Because home acquisitions are costly, almost all homebuyers opt to pay through home loans. Consumers could approach...
How to Get the Best Mortgage Rate After years of working very hard, you have finally decided to become a homeowner. After carefully planning your finances, preparing cash for a down payment, and coming to several open houses in your target area, the time has come to go around and arrange for a mortgage. Fortunately,...
In today’s modern world where instant gratification rules, everything can be obtained so much faster than before. There’s fast food, drive thru services, same day delivery, and so much more. Mortgage has apparently joined the bandwagon and now there is also a thing called same day closing mortgage. What Is Same Day Closing Mortgage? Same...
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