http://www.mbnmortgage.com/news Mon, 08 Mar 2010 16:19:04 +0000 http://backend.userland.com/rss092 en IMPORTANT NEW INFORMATION REGARDING MORTGAGES Federal Finance Minister Jim Flaherty announced three new rule changes connected to government-backed insured mortgages Tuesday morning, saying the government is "taking proactive, prudent and cautious steps" to prevent a housing bubble.   The biggest change is the requirement that all borrowers be qualified at a five-year fixed ... http://www.mbnmortgage.com/news/financing-a-rental-property-in-canada-is-about-to-change/ Bank of Canada keeps rates the same...again Once again, the Bank of Canada announced it would keep the key interest rate at a record-low 0.25 per cent to achieve its inflation target of two per cent. While the Bank said economic growth in Canada resumed in the third quarter of 2009 and ... http://www.mbnmortgage.com/news/bank-of-canada-not-raising-rates/ By using the equity in your home, you may be able to refinance your mortgage and consolidate your debt.      Consider a current situation    Conside a new mortgage   (6.0% interest rate)   (2.15% variable rate *)           Balance Payment   Balance Payment Mortgage  $ 160,000.00  $  1,024.00    $ 196,000.00  $ 1,134.00 Car Loan  $    18,000.00  $      540.00   Paid off  $              -   Credit Cards  $    15,000.00  $      450.00   Paid off  $              -   Payout Penalty  $      3,000.00  $               -     Paid off  $              -   Total  $ 196,000.00  $  2,014.00    $ 196,000.00  $ 1,134.00 That's a monthly savings of $1,169! To find out how you ... http://www.mbnmortgage.com/news/calgary-mortgage-broker-use-your-mortgage-to-manage-your-debt-load/ http://www.reuters.com/article/idUSN2123342920091221 Canada may require higher mortgage downpayments-TV Mon Dec 21, 2009 11:21am EST* Finance minister concerned debt levels may get too high OTTAWA, Dec 21 (Reuters) - Canada may require people taking out mortgages to come up with a larger downpayment if it looks like indebtedness is getting too high, Finance Minister Jim ... http://www.mbnmortgage.com/news/it-may-be-getting-harder-to-buy-real-estate-in-canada/    Bring it HOME Consultative Service, Expert Advice and Flexible Mortgage Solutions for the Self-Employed   As someone who is part of the growing ‘business for self’ segment, you have likely had to make some major trade-offs to achieve your dreams. A September 2007 Mortgage Intelligence survey of self-employed Canadians indicates that you are ... http://www.mbnmortgage.com/news/consultative-service-expert-advice-and-flexible-mortgage-solutions-for-the-self-employed/  Home & Mortgage ESSENTIALS   Home for the holidays: Easy ways to decorate for a warm welcome We all do a little more entertaining over the holiday season and at this time of year; you want to offer your guests the warmest of holiday welcomes. This year, deck the halls… and your front ... http://www.mbnmortgage.com/news/mortgage-home-essentials-home-tips-ideas-and-mortgage-solutions-to-help-save-you-time-and-money/     The Annual Mortgage Checkup   As life changes, a regular once-over helps keep finances in shape   For many Canadians, financial matters are about as enjoyable as their yearly physical exam. But the current low-rate environment may make it a good time for homeowners to become proactive about their overall financial health by ... http://www.mbnmortgage.com/news/the-annual-mortgage-checkup-as-life-changes-a-regular-once-over-helps-keep-finances-in-shape/ Consumers need to prepare for higher mortgage rates next year: advisers by Kristine Owram, THE CANADIAN PRESS Thursday, November 19, 2009provided by TORONTO - The Canadian housing market has seen a stronger and faster rebound from the recession than any other segment of the economy, due in large part to enticingly low mortgage ... http://www.mbnmortgage.com/news/consumers-need-to-prepare-for-higher-mortgage-rates-next-year-advisers/ Whatever the weatherman or the almanac says, we know that the warm season really ends with the changing of the clocks to mark the beginning of standard time again. Mornings are suddenly dark and frigid, and we know that winter is upon us. Protect your home and garden investment – ... http://www.mbnmortgage.com/news/as-the-clock-turns-a-home-owners-fall-checklist/ Credit Scoring The credit score, also referred to as a “FICO score,” is a mathematical formulae created by Fair, Issac and Company. The credit score is used by most companies to decide if the applicant is a good credit risk or not. Equifax and Trans Union will calculate the numbers from the ... http://www.mbnmortgage.com/news/credit-scoring-for-canadian-mortgage-loans/