Looking to add more value to your website. click here to find templated links that can be easily added to your website.

http://darick.ca/link-to

There are 7 Dominion Lending Centres templates to choose from.

Each one will lead your clients to our award winning informative mortgage website where they will find current rates, webinars, historical data, and will be able to apply for a same day mortgage approval through our secure process

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

While a bank only offers the products from their particular institution, licensed mortgage professionals send millions of dollars in mortgage business each year to Canada’s largest banks, credit unions, trust companies, and financial institutions; offering their clients more choice, and access to hundreds of mortgage products! As a result, clients benefit from the trust, confidence, and security of knowing they are getting the best mortgage for their needs.

Whether you’re purchasing a home for the first time, taking out equity from your home for investment or pleasure, or your current mortgage is simply up for renewal, it’s important that you are making an educated buying decision with professional unbiased advice

Choose Barrie’s best mortgage Broker with Barrie’s Best mortgage rates

As you can see from the historical data below, today’s average mortgage rates are lower than they were in the 50s! Although rate isn’t the only important aspect of a mortgage, it’s interesting to see how rates have fluctuated over the past few decades.

1957 6.85% 1958 6.80% 1959 6.98% 1960 7.18% 1961 7.00% 1962 6.97% 1963 6.97% 1964 6.97% 1965 7.02% 1966 7.66% 1967 8.07% 1968 9.06% 1969 9.84% 1970 10.45% 1971 9.43% 1972 9.21% 1973 9.59% 1974 11.24% 1975 11.43% 1976 11.78% 1977 10.36% 1978 10.59% 1979 11.98% 1980 14.32% 1981 18.15% 1982 17.89% 1983 13.29% 1984 13.61% 1985 12.18% 1986 11.22% 1987 11.14% 1988 11.60% 1989 12.05% 1990 13.24% 1991 11.16% 1992 9.52% 1993 8.70% 1994 9.34% 1995 9.22% 1996 7.94% 1997 7.07% 1998 6.90% 1999 7.39% 2000 8.20% 2001 7.18% 2002 6.70% 2003 6.04% 2004 5.80% 2005 5.48% 2006 5.98% 2007 6.36% 2008 6.41% 2009 5.05% 2010 4.82% 2011 4.57% 2012 4.24%

Current Best Rate 3.29% 5 year fixed If you have questions about rates or general mortgage inquiries, answers are just a phone call or email away! www.darick.ca

We’re Changing the Way You Think About Banking CFF Bank is a 100% Canadian owned Schedule I bank and a member of Canada Deposit Insurance Corporation (CDIC). Building on its strengths in mortgages, CFF Bank is developing a full suite of personal banking products, delivering superb service and solutions through top financial professionals in local communities. With our head office located in Oakville, Ontario and offices in Calgary and Toronto, we are able to respond in a timely fashion to our customers across the different time zones in Canada. CFF Bank has assembled an accomplished and distinguished leadership team and board of directors with extensive financial services and technology experience. Ask Us How to obtain a mortgage or become part of this new Bank Barrie’s Best Mortgage Broker offering the Best Rates

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Starting in 2010, lenders had to ensure that borrowers getting variable or 1- to 4-year fixed mortgages could afford payments at the 5-year posted rate.

That rule applied to mortgages with less than 20% equity. In 2012, OSFI asked federally regulated lenders to apply the same rule to all variable and 1- to 4-year fixed mortgages, regardless of equity.

But some lenders, which are provincially regulated, were not bound by this guideline.

As a result, some of the lenders today let conventional borrowers qualify for variable-rate mortgages using significantly lower rates.

That makes it easier to get approved when your debt ratio is above average.

How much easier? Consider a qualified borrower making $70,000 a year.

As of today, that person can get a variable-rate mortgage as high as $483,000 at some Lenders. At a bank, he or she would be capped out at roughly $413,000.

For the best mortgage rates in Barrie from Barrie’s Mortgage Broker call us today to get qualified for your new mortgage

According to the Financial Post

Core Inflation Inflation last year averaged 0.9% through November, the slowest since the 2009 recession, falling to as low as 0.4% and never surpassing 1.3%. Core inflation, which excludes eight volatile components and is monitored closely by the bank as a gauge of inflationary pressures, averaged 1.2% last year and never fell below 1%. “If core inflation is becoming unhinged, then you start to be concerned with the risk that the Bank of Canada may have to think a little bit more seriously about rate cuts,” Issa said. If you dont have prime less.4% or better call me. We can save you money on your mortgage.

In other words..for now Stay or go Variable

For the best mortgage rates from Barrie’s mortgage broker call today 705 797 8811

Consolidate your debts and Mortgage into one low payment that will free up cash flow to invest or pay down debt faster. This program is also eligible for the Free IPAD promotion. Here is an example of the savings and how it works:

PAYMENT TYPE AMOUNT MONTHLY PAYMENTS

Existing Mortgage @ 3.95% $ 175,000.00                           $ 863.59

Visa Card @ 19.75% $ 7,500.00                                        $ 250.00

Car Loan @ 6.50% $ 15,000.00                                         $ 450.00

Dept. Store @ 28% $ 3,500.00                                          $ 125.00

Home Renovations – LOC $ 20,000.00                                $ 200.00

TOTAL: $ 221,000.00                                                       $ 1,888.59

CONSOLIDATE WITH: New Mortgage @ 3.39% $ 221,000.00  $ 1,090.60

MONTHLY SAVINGS: $ 797.99

for Barrie’s Best Mortgage Rates and Service by Barrie’s Best Mortgage Broker call us Today to take advantage of the savings.

Equifax VS Transunion. Whats the Difference? Equifax and Transunion are the 2 credit reporting agencies in Canada, used by lenders to assist with the qualifications of your new mortgage. Equifax is the most common to be used by lenders, when looking to grant credit. When a person is trying to get approved for a mortgage the average of both will usually be used. When trying to apply for car loans or bad credit car loans most lenders will use Equifax.

What I do know is credit granting companies have the option to who they wish to report to as a primary. When lenders choose who they want to report to as a primary, they will take a lot of items into consideration like cost to report, amount of clients they are reporting on(monthly), most common bureau, and effectiveness of the reporting. As a lender reporting, we know that Transunion requires fewer reported files on a monthly basis.

What does this information mean to a client, probably very little. It may be best to use Transunion when a client is from the Eastern side of Canada, as I believe it will give me more accurate information. As a client you should be made aware that your 2 bureaus will not be the same. From what I have found with my own bureau, and clients bureaus, almost 0 percent have been the same. I believe that a person should know where both of their bureaus are at all times.

This will allow a client to know that they have not been reported incorrectly on either bureau( in regards to identity theft). It is very common for 1 bureau to have a trade line reporting, and the other bureau not showing that exact trade line.

I have also found that if a trade line has been cancelled by consumer or credit granter, that trade line might show on 1 bureau and not the other. Both Bureaus have a completely different format and different reporting codes. Please keep in mind that both bureau use a different reporting formula.

The report contains more mortgage data than virtually any other in Canada. Its data tells an intriguing story of the year that’s about to pass.

Here are some key statistics from the survey: • Brokers currently hold 28% market share in Canada – up 3% in just one year

• 40% of all new mortgages were obtained through a mortgage broker

• 44% of consumers surveyed have a good understanding of what mortgage brokers do – up from 33% three years ago

• Top 5 Reasons for Using a Broker: best rate, multiple quotes, research expertise, help understanding options & process, and paperwork.

• 54% very satisfied with rate provided by a broker, while only 43% satisfied with rate provided by a bank

• 41% say they want multiple quotes from a broker, yet only 57% of broker clients report receiving more than one quote

• Top 5 Reasons They Didn’t Use a Broker: easier to deal directly with a lender, don’t want to pay for a broker’s service, don’t want to work with an unfamiliar lender, didn’t think about it, and don’t want to switch lenders

Three years ago, 5% down mortgages were extremely flexible. Today they are not. Before you could refinance and pull out extra equity up to 95% loan to value. Today it’s a maximum of 80% loan to value.

The funny thing is, you are still paying the same high ratio CMHC fees as you did when you had that flexibility. The only other way to get access to extra funds is to do a “Purchase + Improvement” program. If you know you are purchasing a property that can be renovated, you might as well get the bank to finance it instead of paying with a PLC or, out of your pocket.

BUT, YOU NEED TO PLAN FOR THIS WHEN APPLYING FOR YOUR MORTGAGE, NOT AFTER. If you want to renovate your property after receiving the mortgage, the bank will not have the power to increase your mortgage amount. Reply to this newsletter and let me help you plan for those renovations.

On average, CMHC has no issues lending out an extra 10% for renovations. For a $500k purchase, that’s an extra 50k for reno’s. For the best mortgage rates , service , and knowledge about mortgage related questions call Us anytime