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Dominion Lending - Toronto Mortgage News

08/30/2010 - Why Hiring a Reputable Toronto Home Inspector Could Save You A Lot of Headaches and Money.

It is easy to fall in love with a house or condo the first time you view it, but having a detailed home inspection should give you some idea of what really lurks beneath the surface beauty of that dream home.   To read more click here - Dominion Lending Toronto Mortgage Home Inspections

08/13/2010 - Why aren't Toronto's Banks Paying Higher Interest Rates?

So far in 2010, Canadians have opened 20 per cent more chequing and savings accounts than last year at this time. That amounts to about $100 billion in new deposits and Canada’s major banks have been fighting for a share of it with incentives, including cash rewards for customers opening new accounts. While consumers can get cash and travel points to open a new account, there is one conspicuous weapon missing in the banks’ marketing arsenal when it comes to attracting new customers. And that is the lure of higher interest rates, something you won’t find the banks offering on those new savings accounts and products – or old ones for that matter.   To read more click here - Dominion Lending Toronto Mortgage Lender News

07/21/2010 - Toronto's Prime Lending Mortgage Rate Increases to 2.75%

The Bank of Canada announced yesterday morning that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. Based on this increase the new Bank Prime Lending Mortgage Rate in Toronto is now 2.75%. The Bank of Canada Stated that although there is some recovery in the global economy it is still unstable. The Bank feels that a slower growth in all economies can be expected as more people, businesses and governments will be watching their money closely. Even with this increase Toronto's variable mortgage rates still remain very attractive.  To read more click here - Dominion Lending Toronto Mortgage Rates

06/16/2010 - Toronto Rental Units Can Help You Pay Off Your Mortgage But It Could Also Become A Nightmare

Buying a house in Toronto with a rental suite can be just the ticket to help you pay off your mortgage years earlier than it might have otherwise been possible. But landlords beware: there are potential problems connected with getting mortgage financing, getting rid of tenants (you really shouldn't have let in in the first place) and zoning issues. The idea of having someone pay several hundreds dollars a month towards your mortgage in Toronto might also entice you into buying a house you really can't afford, and you could find yourself dangerously dependent on that rent money — experts will tell you this is a bad idea.  To read more click here - Dominion Lending Toronto Investment Properties

06/16/2010 - The Toronto Mortgage Market May See Another Variable Mortgage Rate Hike

With Canada's economy stumbling in April, adding fuel to speculation the country's roaring recovery that began in September 2009 was coming to an abrupt end, economists warned Canada's central bank will have to tread carefully on its plan to raise interest rates for the rest of the year.  To read more click here - Dominion Lending Toronto Mortgage Rates

06/16/2010 - Toronto Mortgages Should Have Check-up's As Frequently As We Do

While about 80% of people in Toronto visit a doctor at least once a year to help ensure they remain physically healthy, the number of people who check their financial health by regularly reviewing their mortgage is far less. Plenty can change in someone’s life in a year, never mind during the standard five-year mortgage a lot of Canadians sign up for. A career change, kids, retirement or newfound money or it could be that such a major event is on the horizon. All of these things can affect the choices you make in finding the mortgage that fits just right for you.  To read more click here - Dominion Lending Toronto Mortgage Checkup

06/11/2010 - Managing Debt While Toronto Mortgage Rates Grow.

Toronto has taken advantage of extremely low interest rates for some time now and many have overextended themselves based on these historically low mortgage rates. The Bank of Canada would like to prevent inflation by raising interest rates to slow the economy down. What effect with this have on those carrying large mortgages in Toronto?  To read more click here - Dominion Lending Toronto Managing Mortgage Debt

06/10/2010 - Wells Fargo Leaves Toronto and the Rest of Canada High and Dry.

Wells Fargo Financial Corp. Canada is closing its outlets across the country and will no longer make customer loans, but will maintain existing real estate, auto and consumer loan accounts. This includes the Toronto Mortgage Market. Toronto's financial services sector is dominated by the domestic chartered banks and while foreign players have managed to get a toehold in the country, history has been marked by dramatic entrances followed by often quiet retreats. This is just another reminder why Toronto Home Purchasers in Toronto who are looking for a Mortgage should do business with Canadian Institutions only. We should not only do business with Canadian Institutions to support our Canadian Economy but to save ourselves the headache of not knowing where our money is when these fly by night companies leave us high and dry.  To read more click here - Dominion Lending Toronto Mortgage Wells Fargo

06/07/2010 - Could Toronto See the HST Wiped Out in November by a Tory Government?

Ontario Finance Minister Dwight Duncan challenged the Conservative opposition to promise to repeal the Harmonized Sales Tax should they win the next provincial election in November 2011.  This would have a major impact on the Toronto Mortgage and Real Estate market should the Tory's choose to take the bait.  To read more click here -> Dominion Lending Toronto Mortgage HST

06/04/2010 - The Toronto and Canadian Mortgage Market Ranked One Of The Healthiest In The World.

Banks in Toronto and across Canada were barely touched during the 2008 financial crisis, which was considered the worst recession in history since the great depression.  In fact bank losses were so low and the cushion of reserves were so high that banks in Canada and Toronto actually managed to post profits for months in the aftermath of the recession in 2008.  Alternatively the US banking system was teetering on the brink of insolvency and getting $250 billiion dollars in Treasury bailouts to cover losses on bad mortgage loans.  To read the full report click here -> Dominion Lending Toronto Mortgage Market Report.

06/03/2010 - Have Toronto Housing Prices Hit There Peak For 2010?

Economists have stated that Toronto's once white hot resale housing market is cooling significantly and prices should remain flat for the rest of the year and fall in 2011.  While Toronto's Mortgage Rates have consistently stayed at all time lows there are still plenty of reasons for Toronto Home Buyers to get in to the Toronto Housing Market.  To read the full report click here. -> Dominion Lending Toronto Mortgage and Housing Market

06/02/2010 - Dominion Lending Toronto Mortgage Rates May Not See Another Increase in July After All

Variable Mortgage Rates in Toronto rose by a quarter of a percent yesterday after the Bank of Canada decided to raise the target for the overnight rate.  However, Mark Carney is taking a cautious approach to raising interest rates weighing Canada's powerful economic rebound against the uncertainty of an "increasingly uneven" recovery across the globe.  To read the full report click here -> Dominion Lending Toronto Mortgage News.

06/01/2010 - Toronto Mortgage Prime Lending Rate Set to Increase

Today the Bank of Canada announced that it was raising the target for the overnight rate to 1/2 of a percent.  This move will change the Prime Lending Mortgage Rate in Toronto from 2.25% to 2.50%.  Variable rates with Dominion Lending in Toronto are still being offered.  To read the full report on the changes to the overnight rate for Toronto Mortgages click here -> Dominion Lending Toronto Mortgage Blog.

05/31/2010 - Toronto Mortgages and Will not Fall Victim to The Foreclosure Wave

Canada's housing market is expected to cool off this year and next, but isn't at risk of falling victim to a U.S. style foreclosure crisis anytime soon, according to a new report by debt rating DBRS ltd.  To read more about how this will affect the Toronto Mortgage Market click here ->  Dominion Lending Toronto Mortgage Blog..

04/23/2010 - Variable Rate Mortgages In Toronto May Not Rise In June

Although the Bank of Canada Stated that they will no longer be promising to maintain the Over Night Rate at such a low level their outlook on the economy was not as bright as we had interpreted after their announcement.  Mark Carney Stated that we should not be so quick to think that the Bank of Canada will be raising the over night rate in June after all.  Click here to read more -> Dominion Lending Toronto Mortgage Blog.

04/20/2010 - Toronto's Variable Mortgage Rates Will Remain At Historical Lows

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.  The Bank Prime Lending Rate will also remain at 2.25%.  Click here to read more -> Dominion Lending Toronto Mortgage Blog.

04/19/2010 - Slide in Canadian Dollar Could Affect Mortgage Rates in Toronto

The Canadian dollar extended losses against its U.S. counterpart on Monday to its lowest in almost 3 weeks as lingering concerns over fraud charges against Goldman Sachs, and wider fallout in the financial sector, curbed investor appetite for riskier assets. Click here to read more -> Dominion Lending Toronto Mortgage Blog.

03/29/2010 - Toronto Mortgage Lenders Raise Fixed Mortgage Rates From Historic 40 Year Lows.

Mortgage rates have begun to rise from their record lows, with news Monday that several Canadian banks are increasing several fixed mortgage rates by up to 6/10ths of a percentage point. The biggest jump is attached to the popular five-year fixed closed rate, which moves from 5.25 per cent to 5.85 per cent at Royal Bank, TD Canada Trust, and Laurentian Bank. That's the posted rate, which is routinely discounted by the big banks. Click here to read more -> Dominion Lending Toronto Mortgage Blog.  

03/03/2010 - No Change To Toronto Variable Rate Mortgages

The Bank of Canada announced yesterday morning that it is maintaining its target for the overnight rate at 1/4 per cent. The general Bank Prime Lending rate will remain at 2.25% as well. The Bank of Canada stated that the ongoing global economic recovery is being driven largely by strong domestic demand.  The level of economic activity in Canada has been slightly higher than the Bank had projected in its January Monetary Policy Report.  Click here to read more -> Dominion Lending Toronto Mortgage Blog. 

02/18/2010 - Important Federal Changes to Toronto Mortgage Rules

On Tuesday February 16th Federal Finance Minister Jim Flaherty announced prudent changes to mortgage insurance rules intended to come into force on April 19, 2010. Here is an outline of the changes that will take place:

1. All borrowers must meet the standards for a five-year fixed rate mortgage even if they choose a mortgage with a lower interest rate and shorter term

2.The maximum amount one can withdraw in refinancing their mortgage will be reduced to 90% from the current 95% of the value of one's home

3.Non-owner occupied properties will require a minimum down payment of 20%.

Click here to read more -> Dominion Lending Toronto Mortgage Blog.

Dominion Lending - Toronto Mortgages and Mortgage Broker Services

Dominion Lending - Why Use A Toronto Mortgage Broker?

There are generally two ways to get a mortgage in Toronto: From a bank or from a licensed mortgage professional like myself.

While a bank only offers the products from their particular institution, I fund millions of dollars in mortgage business each year with Toronto's largest banks, credit unions, trust companies, and financial institutions.  I can offer you more choices, and access to hundreds of mortgage products! As a result, my clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for their needs.

Whether you need a mortgage for the purchase a home, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal I can get you the best mortgage for your needs at the lowest cost.  It's important that you make an educated buying decision with professional unbiased advice.

Dominion Lending - Toronto Mortgage Broker Preferred Rates

With over 40 different lenders to choose from its no wonder I can offer the best mortgage rates in Toronto.  Most large banks only offer Posted Mortgage Rates to their customers which are approximately 1.25% higher than the discounted mortgage rates that I receive for my clients.  I fund millions of dollars in mortgages with these same banks every year.  This allows me to offer my clients greatly discounted mortgage rates that they would not be able to get on their own.  

Dominion Lending - Toronto Mortgage Broker Services 

There are more things you can do with a mortgage to day than ever before.  With new mortgage products coming out in the market every day having a close relationship with a good Toronto Mortgage Broker makes sense.  A Toronto Mortgage Broker can be as part of your life as much as you would need an accountant to be.  Toronto Mortgage Brokers can save you thousands of dollars by restructuring your mortgage on a regular basis.  Its like going to the doctors for a check up.  Mortgages in Toronto are not just for the purchase of a home.  You can refinance your debt, purchase a vacation property, buy an investment property, renovate your house, send your kids to school, use the money to invest, buy a business, purchase a retirement savings plan or even make your mortgage tax deductible!  Having access to your Home Equity through your mortgage makes a lot of sense for most Home Owners in Toronto especially those who own rental properties.  I can structure your mortgage so that you will always have access to as much as up to 80% of the value of your home without having to pay for it until you make a withdrawal.  If you don't currently have this available to you then you have to ask yourself why not.  Whether you need the money now or possible in the future it is your money and you should have access to it.  Call me today to discuss how you can get a Home Equity Mortgage on your home.