The US Fed announced that they do not plan to increase interest rates until late 2014. While this is not a surprise in itself the Fed has not stated this in the past. They now want to give investors and economists confidence by letting them know explicitly that the Fed will not undermine economic recovery [...]
A peek behind deeply discounted 5-year rates. When considering a deeply discounted 5-year rate, keep in mind that cheapest isn’t always best. Strangely, we know that’s true when we’re shopping for anything else – but we still tend to believe that lowest rate is the one and only factor in choosing a mortgage. But, that [...]
By Vernon Clement Jones | 18/01/2012 Lenders should be limited to a standardized menu of penalty calculations to avoid the kind of client confusion leading to a class-action suit against CIBC, said one veteran mortgage professional. “MBLAA (Mortgage Brokerages, Lenders and Administrators Act, 2006) requires brokers to disclose the penalties to borrowers, but does not [...]
By Vernon Clement Jones | 17/01/2012 3:10:00 PM Lawyers spearheading twin class-action suits against CIBC over “vague prepayment terms” have fielded interest from hundreds of the bank’s mortgage clients — that as a case management judge in B.C. gets assigned to the legal action. “There have been hundreds of inquiries about these cases to our [...]
As expected, the Bank of Canada held its overnight rate steady at 1%, citing an uncertain global economic backdrop an expectations that recent growth in the US will moderate in the months ahead. Should the economic picture deteriorate further, the Bank of Canada has the flexibility to decrease its overnight rate, and in fact, markets [...]
WIN $25,000!
This year, Invis is celebrating our 500,000th Mortgage client with our biggest givmeaway ever! Your Kelowna mortgage broker, Tom Mah invites you to enter for a chance to win $25,000! To enter, fill out the form HERE. Invis is Canada’s leader when it comes to arranging mortgages for homeowners. Together with affiliated firm Mortgage Intelligence, Invis [...]
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