Mortgage Logic

Housing Market

Beware the IRD Mortgage Penalty

IRD, a home owner’s most feared three letter acronym! Clients looking to refinance their existing mortgage to lower their rate or moving to a new property, run into this term every time, especially these days.  The size of an IRD (interest rate differential) penalty depends upon who you have your mortgage with, not just the interest rate …

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Speculative Buying Drove Crash: Report

by Cristina Silva LAS VEGAS — A new report shows real estate investors played a larger role than originally thought in driving the housing bubble in the United States that led to record foreclosures and left the economy reeling in Nevada, California, Arizona, Florida and other states. Researchers with the Federal Reserve Bank of New …

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Mortgage Broker Gets Standing Ovation

Denise Deveau, Postmedia News Cheryl Hutton and Aaron Coates relax in their new home in Calgary. The first-time homebuyers never thought they would qualify for a mortgage.  Cheryl Hutton and Aaron Coates always thought getting a mortgage would be a challenge. But within 18 days of visiting a mortgage broker, they were able to close …

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Finance Minister Tightens Insured Mortgage Rules Again In Less Than A Year

Going Overboard, Who Is Captain Of Canadian Mortgage Ship? Today the Canadian Finance Minister (Flaherty) announced additional tightening of rules for government backed (insured) mortgages.  Last April 2010 he introduced rules that effectively reduced the ability for Canadians to leverage their homes and revenue properties.  Today he focused solely on Canadians’ homes.  The three sweeping …

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