http://www.greatpacificmortgage.com Wed, 28 Sep 2011 21:13:20 +0000 http://backend.userland.com/rss092 en Canadian bankers are, by nature, a conservative lot. This is partly due to the mandated procedures and policies they are given by The Office of the Superintendent of Financial Institutions (OSFI) in Ottawa. The OSFI, reporting directly to the Federal Government’s Minister of Finance, has the responsibility to ... http://www.greatpacificmortgage.com/blog/canadian-mortgage-rates-and-the-world-financial-market/ Recently a friend of mine started a new career as a realtor. She e-mailed me asking for my opinion with respect to purchasers buying with little or no down payment. After I finished my e-mail, I thought it might be worth sharing a few of the highlights on ... http://www.greatpacificmortgage.com/blog/buying-real-estate-without-a-down-payment/ Many people spend a great deal of their time and energy looking for ‘The Perfect Investment’. Over the past three decades, I have repeatedly had clients actively seek an investment that will produce a steady double digit return risk-free. This ideal investment – high reward for no risk – ... http://www.greatpacificmortgage.com/blog/a-perfect-investment/ A recent survey done on behalf of (RBC) Royal Bank of Canada indicated that the majority of potential first time home buyers in Canada have decided to delay their entry into the world of home ownership for one year. A general lack of confidence in the current market, the ... http://www.greatpacificmortgage.com/blog/first-time-home-buyers/ Institutional lenders, such as banks, are starting to collectively jump on the band wagon to increase mortgage interest rates. They are once again chanting their mantra about inflation concerns, higher costs of funds, and tighter interest spreads while at the same time restating the need for Canadians to reduce ... http://www.greatpacificmortgage.com/blog/borrowers-best-interest/ As Christmas soon approaches I, for one, have simply decided to take a vacation from the daily negative public feeding of Grinch Economics 101. No, I don’t plan to be singing around the Christmas tree with the entire population of Whoville, but for just a short time I’m giving ... http://www.greatpacificmortgage.com/blog/grinch-economics-101/ Many of today’s young adults are still living with their parents. In fact, 17% more of Canadian young adults born between 1970 and 1990, known as Echo Boomers, still find themselves living with their parents. This is in part due to the recent economic and financial crisis, ... http://www.greatpacificmortgage.com/blog/when-echo-boomers-buy/ Lately, many people have questioned the decision by the Governor of the Bank of Canada to raise interest rates. The truth is the Governor has simply been doing what is required to work a little Made-in-Canada economic magic. What the Bank of Canada is doing is an act ... http://www.greatpacificmortgage.com/blog/interest-rates/ Some years back, while working as a Branch Manager for a Canadian Trust Company, I was given an opportunity to gain experience in the area of using your own RRSP to fund a “Non Arm's Length” Mortgage. Proceeding to then give several seminars on the topic, I went a long ... http://www.greatpacificmortgage.com/blog/lending-your-rrsp-money/ I recently read an article by Talbot Boggs of the Canadian Press (June 30, 2010). Though I agreed with most points made in the article, I disagree with the suggestion that a borrower should purchase mortgage insurance as an option if offered by the lender. Firstly, the mortgage balance will be ... http://www.greatpacificmortgage.com/blog/mortgage-life-insurance/