Shirin Rezai Namghi at Mortgage Group Inc.

07/24/2022

As you know, Bank of Canada raised the Prime rate by 100-bps in July. New variable-rate borrowers will have to qualify at a stress test rate of 200 bps above their contract rate as opposed to the minimum of 5.25% (something fixed-rate borrowers have had to do ever since fixed rates rose above the 3.25% threshold). Stress test rules for both insured and uninsured mortgages mean borrowers must prove they can afford payments based on their contract rate plus 2% or 5.25%, whichever is higher.

03/27/2022

If you are looking to buy a house, I would highly recommend to apply for a mortgage pre-approval. By having a pre-approval, you will know how much you can afford to borrow and you can start looking at properties that are in your price range.
For any inquiries, please contact me at (403) 702-0720.

02/21/2022

The Bank of Canada did not move its key interest rate on Wednesday, but there are other factors at play that could affect housing prices and inflation on the cost of goods.

01/21/2022

What is mortgage insurance? Mortgage insurance, also sometimes called mortgage default insurance or CMHC insurance, is mandatory when your down payment is less than 20% of your home’s purchase price. It helps to protect lenders from riskier borrowers in case a borrower stops making payments on their mortgage and defaults on their loan.

01/05/2022

"The days of ultra-cheap mortgages may be behind us, but at this point, the fear of rising rates is likely overblown". For questions regarding rates and mortgages, please contact me at 403-702-0720.

The Bank of Canada is finally coming around to the view that the rising cost of goods and services is perhaps not so transitory after all.

08/13/2021

Closing costs are an important piece of obtaining your mortgage that ranges from 1.5% to 4% of the purchase price. Most of these costs cannot be rolled into the mortgage so it's important to be aware of it ahead and start saving! For any questions you may have, please reach me at 403-702-0720.

Depending on how much your property costs, these fees can add up to thousands of dollars. Here’s what you can expect to spend before being handed the keys.

08/06/2021

There are 3 mortgage types you can apply for: Insured, Insurable, and Uninsurable. To find out which suits your situation better, please do not hesitate to contact me.

08/03/2021

Buying a flipped home—a property that’s been purchased, renovated, and re-sold by an investor—is all the rage these days, and for good reason! It’s an enticing idea, especially since you get to move into an already-updated home without having to handle the renovations yourself. Amid the COVI...

07/30/2021

A trusted, local professional can help ease the stress of purchasing a home and ensure you are set up for success!

Home prices aren't factored into residential investment and employment in sector isn't likely to take a hit, economist says

07/27/2021

https://canadianrealestatemagazine.ca/news/aggregate-canadian-home-price-rose-by-25-in-q2-334753.aspx?fbclid=IwAR0puA-Q2vD66__-Cn-I9CUUbxLM1L681rf7DWsFh8Y6Yl61gqqzZmfAI6c

The aggregate price of a home in the country is expected to reach $771,500 by the last quarter of the year because foreign students, newcomers and investors will have arrived.