The 5 year fixed rate has hit it’s all time historic low at 2.99% but keep in mind that a mortgage is more than just a rate.  BMO’s promotional 2.99% 5 year rate comes with its catches so dig a bit deeper to understand the terms.  The maximum amortization is 25 years not 30 so you will have a higher payment (paying less interest).  There are lower prepayment options at…

With rates still at historic lows, it may be worth your while to break your current mortgage for a lower rate, saving you not only interest costs but reducing your payment and also reducing your amortization – so you pay off your mortgage faster!  This may be the right strategy for you.

To read the full article…

As the deadline for the new changes for amortizations from 35 to 30 years approaches, this appears to have fueled a very busy real estate market in Toronto.  There are certainly more clients purchasing and having their closing set after the March 17th deadline but will this boom in the market continue throughout the spring?  My crystal ball is a little fuzzy – however, it should be interesting to see…

To read the article and watch the video please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
FSCO lic. M08001363
416-400-8107
kim@mortgagesuperhero.com
www.mortgagesuperhero.com…

To view the interview please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
FSCO lic. M08001363
416-400-8107
kim@mortgagesuperhero.com
www.mortgagesuperhero.com…

On Monday Jan. 17th the federal government announced 3 changes concerning government backed (CMHC) mortgages. The three changes as are follows:

1. The maximum amortization will be decreased from 35 years to 30 years. This is effective as of March 18th, 2011 however, if you have an approval prior to that date for a closing after March 18th then you will still be able to obtain the 35 year…

With curent low rates, is it time to give your mortgage a checkup and see if you could be saving money? Take a look at the most recent article concerning this very subject in MoneySense Magazine, if you would like a free assessment on your mortgage feel free to contact us.

Please click here to read the full article….

Kim Gibbons, ” Your Mortgage Superhero ®”…

To watch the interview please click here…

For those considering a TD Canada Trust mortgage, take note.

TD Canada Trust made a  sweeping change to their mortgage lending effective October 18th, 2010.  They are no longer registering mortgage via a standard legal charge and will only accept a collateral charge.  This is very important as it relates to how your mortgage is legally registered and…

Buying a first home can be pretty stressful and will likely impose a fairly hefty financial burden on the purchaser.

Many parents and grandparents may be tempted to lend or give money for a deposit or even act as a guarantor or co-signer for a mortgage in order to try to ease the financial pressure on their offspring. Financial advisors urge them to look at the bigger picture before…

Bank of Canada increased their overnight rate on July 20, 2010 by .25% which brings the prime rate to 2.75%. Variable rates are still a great deal and now the best 5 year closed variable is at prime – .65% or 2.10%.

To watch to video clip from Global News please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
FSCO lic. M08001363…

There are many things to consider when looking at making a choice to have a hybrid or split mortgage.  The below noted article article touches on a few items only but there are other pros and cons as well. 

Although on the upside it may reduce your overall rate risk depending on the product you are in, it may be difficult to easily transfer your mortgage at the time…

Sean O’Shea from Global News caught me in between Victoria Day barbeques to discuss the importance of your credit bureau as it pertains to obtaining a mortgage.

click here to watch the news segment

Take a look at the Global News – Consumer SOS report from April 20th where a discussion of interest rates took place on the heels of the Bank of Canada overnight rate announcement:

click here for the link

Here is an article I was quoted in regarding mortgage rates, refinances and prepayment penalties:

Click here to read…

PC World Canada article dated August 25, 2009 – “How Canadian businesses can use email to build their client bases” featuring Kim Gibbons…