Ross Taylor

Variable-rate mortgages are about to trigger payment increases

August 8, 2022 3 Comments

There’s been a lot of discussion recently about how variable-rate mortgage holders could face their “trigger point.” We’re going to explore what that means, and the implications for borrowers.

Mortgage stress test impacting qualification amounts

How the mortgage stress test is impacting qualification amounts

June 20, 2022 No Comments

As of June 2022, we are currently seeing unnatural discrepancies in the size of mortgage loans borrowers will qualify for, and it’s all because of

What Happens When Appraisal Values Come up Short?

May 1, 2022 No Comments

For the past two years, appraisal valuations have rarely fallen short.

Concerned about a higher mortgage stress test

The Mortgage Stress Test Has Already Increased for Some Borrowers

March 22, 2022 1 Comment

All eyes have been on the Bank of Canada’s rate tightening and its impact on variable mortgages, but now there are fresh concerns given the flurry of recent increases to 5-year fixed mortgage rates.

Everyone Loves Variable Mortgages, Until the First BOC Rate Hike

January 24, 2022 4 Comments

Some mortgage borrowers’ confidence in variable rates may be tested as the Bank of Canada’s overnight target rate starts its inevitable climb upwards, perhaps as early as this week.

Can You Qualify for a Mortgage While on Probation at Your Job?

January 10, 2022 No Comments

Last year, we noticed an increase in the number of mortgage applicants who are still on probation at their jobs.

How mortgage pre-approvals can protect you against rate hikles

How a Mortgage Pre-Approval Can Protect You from Rising Rates

November 1, 2021 3 Comments

With fixed rates on the rise, a mortgage pre-approval can be a total game-changer.

Can Mortgage Brokers Compete with Low Online Rates?

October 21, 2021 No Comments

As mortgage brokers, we should assume our clients and prospects have access to much of the same information we do. But sometimes they don’t, and in such cases we can focus on finding the best lender solution.

best practices for down payment verification

Best Practices to Verify Your Clients’ Down Payments

May 25, 2021 3 Comments

Proving the source of your clients’ down payments can sometimes be the most time-consuming part of arranging a mortgage. Even when handled well, the process

A Pre-Approval Does Not Guarantee a Mortgage Approval

April 27, 2021 1 Comment

Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. But the truth is a buyer