Archives: December, 2010

More New Mortgage Rules in 2011???

In 2010, the government introduced new rules for mortgages needing default insurance. These rules were stricter than previously and made it more difficult for buyers to purchase properties. Those new rules were: – Qualifying mortgages at the higher rate of the contract rate or 5-year Bank of Canada posted rate (regardless of the mortgage product). […]

Mortgage Rates

The Bank of Canada has left major rates affecting mortgage rates the same this week. The posted 5-year mortgage rate remains at 5.19%. Also the Prime rate (which is the key factor that determines the interest rate on variable mortgage products) remains unchanged at 3.00%. Despite the predictions of analysts, mortgage rates this year did […]

Mortgage Barrie

Barrie is a located on Kempenfelt Bay, right off of Lake Simcoe in the central portion of Southern Ontario. Geographically it is within Simcoe County, but the municipality is politically separate. Barrie is located in the Greater Golden Horseshoe, the most densely populated area of Canada. The city had a population of 128,430 residents in […]