Kathryn Irwin, GTA, Mortgage Broker, AMP

07/01/2020

HAPPY CANADA EVERYONE...🥰

06/05/2020

MORE changes coming for CMHC High Ratio purchases. (Less than 20% down payment). Please contact me with any questions and of course assistance.

This WILL IMPACT YOUR PURCHASE POWER.

/CNW/ - The COVID-19 pandemic is affecting all sectors of Canada's economy, including housing. Job losses, business closures and a drop in immigration are...

05/26/2018

I found this very informative. A must read for all real estate investors.

In three years, CRA auditors have reviewed more than 30,000 files and identified nearly $600 million in additional taxes, resulting in over $43 million in penalties

05/09/2018

HIGH RATIO INSURED MORTGAGE.....Qualifying rate now at 5.34%. Up from 5.14%. Contact me if you have questions.....

The central bank qualifying rate is separate from the actual mortgage rates offered by banks, but is used to assess homebuyers who are seeking loans

02/06/2018

https://ca.reuters.com/article/topNews/idCAKBN1FQ1PL-OCATP

Home sales in Toronto fell 22 percent in January from a year earlier as rising interest rates and tighter mortgage rules weighed on demand, but prices have stabilized as stubborn sellers and tight supply kept the correction in check.

02/05/2018

Interesting. Also check out Netflix show “Dirty Money” Episode 4

By MariaArmental HSBC Holdings PLC has agreed to pay $101.5 million to resolve federal fraud charges stemming from the bank's misuse of confidential client information for its own profit, a practice commonly known as front-running. In documents filed Thursday in Brooklyn federal court, HSBC admitted...

10/17/2017

NEW MORTGAGE RULES AGAIN...SET BY GOVERNMENT
EFFECTIVE: JANUARY 2018

SUMMARY WHAT IT MEANS AND HOW IT EFFECTS YOU:

You apply for a mortgage, you have 20% down payment on a purchase you DO NOT need High Ratio Insurance:

CURRENTLY: When taking a 5 year fixed rate, you qualify on your 5 year fixed rate - rate currently for 5 year conventional 30 year amortization rate is 3.39%

EFFECTIVE JANUARY 2018: When you have 20% down payment on your new home, your contract rate example as above current 5 year conventional fixed rate 30 year amortization of 3.39% PLUS 2%, THEREFORE YOU HAVE TO QUALIFY USING PAYMENTS BASED ON 5.39%

THIS WILL EFFECT YOU ON YOUR QUALIFYING ABILITY OF APPROXIMATELY $80K-$100K IN MORTGAGE MONEY WHICH WILL OF COURSE AFFECT YOUR PURCHASE PRICE RANGE.

THINKING OF RE-FINANCING YOUR MORTGAGE PAY OUT OUTSIDE DEBTS, MAYBE DO SOME RENOVATIONS OR PAY FOR KIDS UNIVERSITY COSTS........DO IT NOW....NEW RULES EFFECTIVE JANUARY 2018, WILL EFFECT YOU ON MORTGAGE AMOUNT QUALIFICATIONS

CONTACT ME ANYTIME FOR FURTHER DETAILS AND ASSISTANCE.......

07/12/2017

Three of Canada's biggest banks are boosting their prime lending rates by 25 basis points, following an interest rate hike from the central bank.

Royal Bank of Canada (TSX:RY), the Bank of Montreal (TSX:BMO) and TD Bank (TSX:TD) all announced Wednesday they are increasing their prime rates to 2.95 per cent from 2.7 per cent, effective Thursday.

The prime lending rate is the rate that banks use to set interest rates for variable-rate mortgages and other loans.

The moves comes after the Bank of Canada raised its key interest rate for the first time in seven years on Wednesday to 0.75 per cent from 0.5 per cent

07/01/2017

HAPPY BIRTHDAY CANADA 🇨🇦🤗🎉

02/28/2017

01/17/2017

CMHC Mortgage Insurance Premiums to increase effective March 17, 2017. If you are thinking of purchasing your new home this Spring, now is the time to get out and actively look, put in an accepted Offer prior to March 17, 2017, you will not only save on the Insurance Premium but also the PST on the Insurance Premium. Call me anytime...

https://www.cmhc-schl.gc.ca/en/corp/nero/nere/2017/2017-01-17-0830.cfm

January 17, 2017

01/11/2017

New Year .... Good information to know as tax time will come up on us fast 🏦

CPP to EI rates and RRSP limits, there are numerous changes coming into effect next month — Jamie Golombek breaks down the numbers