All About Real Estate, Finance & Mortgages

Rachelle and her experienced team simplify the process with fast and friendly service while finding you the most suitable solution. Our partnerships include hundreds of lenders which gives us an edge over our competition when it comes to placing the more ‘difficult’ mortgages. Fill out our easy application  or reach out to us for more information. 

Let our years of experience work for you when it comes to finding the right financing. Rachelle Czartorynskyj, Mortgage Broker Fill out our online application and we will get back to you fast with all your options: https://getmy.mortgage/mtgwellness... #stratfordmortgagebroker #stratfordprivatemortgages

  We're growing! We are looking for Mortgage Agents with  industry experience  to join our Mortgage Wellness Team.  We are looking to fill positions in the following locations in Ontario: Stratford, Kitchener, Cambridge and Guelph. If you're an experienced Agent looking to align yourself with an award-winning team, please email your resume to the attention of Rachelle Czartorynskyj at  rachelle@mortgagesourcecanada.com LEARN MORE... #stratfordmortgagebroker

The First-Time Home Buyer Incentive helps people across Canada purchase their first home. The program offers 5 or 10% of the home’s purchase price to put toward a down payment. This addition to your down payment lowers your mortgage carrying costs, making home ownership more affordable. Click here to learn more about applying for the First Time Home Buyer Incentive Program  

"A great number of people don't do any comparison shopping whatsoever and the banks take advantage of those people by offering higher rates at renewal." Some advice on what to do if you can’t afford a mortgage rate hike. You're likelier to get a better mortgage rate if you switch lenders at renewal time.   How you can benefit from working with a Mortgage Broker - when renewal time comes around, we can help find you better rates in the marketplace and save you money. Read More...   # StratfordMortgageBroker

Brace yourself for more debt and delinquencies next year — particularly in the Western provinces. Canadians will likely see a slight increase in debt and delinquencies next year, particularly in Western provinces hit by downturns in the oil and farming industries, according to a new report by a consumer credit reporting agency. The average Canadian’s non-mortgage debt may increase by 1 per cent to $31,531 by the end of 2020, New York Stock Exchange-listed TransUnion Co. forecast. Delinquency rates may fall to 5.41 per cent this year from 5.54 per cent at the end of September before increasing to 5.44 per cent by the end of next year, the data showed. Read entire article...

The prevalent belief among policymakers — and basic economic theory — would seem to suggest that it should. But a recent study that took a look at data on consumer borrowing and spending in Canada is raising some questions about that relationship. Fears that rising interest rates could make it harder for Canadian to make their mortgage payments was one of the motivations behind the tightening of mortgage regulations in Canada. The changes included, among others, the stress test, shortening of the amortization period and new taxes on foreign homebuyers. Policymakers in Canada were no doubt influenced by the experience in the United States, where a boom in subprime mortgages contributed significantly to the Great Recession in 2008. Read entire article...

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After you file a consumer proposal, the last thing on your mind might be a new mortgage, but you may be a lot closer than you think. Maybe you wish to buy a home, or you own a home and are interested in refinancing your mortgage. Let’s first talk about purchasing a home. When Can You Buy A Home After A Consumer Proposal? Read more...

It’s that time of year again, when we vow to kick bad habits and set a healthier or more positive course for the new year ahead. Improving our finances usually tops the list, and this year is no exception. For the 10th straight year, the top financial priority for Canadians in 2020 is to pay off their debts — perhaps not surprising given that the average person dropped about $1,600 on holiday shopping last month. Read more...

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OTTAWA – Canada’s first-time home buyers may have to shelve their dream house fantasies due to lending changes announced this week by the federal government, mortgage brokers say. Ottawa moved this week to tighten mortgage lending rules that will limit the amount many Canadians can borrow to help ensure that when interest rates rise, they’ll still be able to make their payments. Mortgage broker Frank Napolitano says that means the size of mortgage many buyers will be able to qualify for will be less once the rules take effect on Oct. 17. “First-time homebuyers will probably have to probably scale down the type of home that they may have planned to buy,” said Napolitano, managing partner at Mortgage Brokers Ottawa. Under the new rules, a stress test that had only applied to borrowers who opted for variable rate mortgages or fixed rate mortgages with terms less than five years will now be used for all home buyers with less than a 20 per cent down payment. That means borrow

Finance minister Charles Sousa is giving first-time home buyers a $4,000 land transfer tax rebate.

I've seen it too many times. Young people come into my office looking for a mortgage. Through hard work and discipline they have saved between $50,000 and $100,000 for a down payment and I cannot give them a mortgage. Why? Because they have no credit score. It's not that they have poor credit, it's that they don't have any at all. They thought they were doing all the right things (and they were). They lived within their means, only bought items (even cars) when they had the money and don't owe anyone anything. But it's time to purchase their first home and the banks won't give them money.  Click here for entire article

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The government brochure announcing the introduction of the TFSA calls it “the single most important personal savings vehicle since the introduction of the Registered Retirement Savings Plan (RRSP)”. Unlike the usual hyperbole, the government is probably understating the importance that TFSAs are likely to play in the savings plans of all Canadians. Read more...

OTTAWA, November 5, 2012 — Canada’s new home market is expected to continue to moderate in the last quarter of 2012 and into 2013. Meanwhile, activity in the existing home market is expected to hold steady, leading to house price growth in line with or slightly below inflation, according to Canada Mortgage and Housing Corporation’s (CMHC) fourth quarter 2012 Housing Market Outlook, Canada Edition. “A weaker outlook for global economic conditions and the waning of the effect of pre-sales from late 2010 and early 2011, which contributed to support multi-family starts this year, will bring moderation in housing starts next year. Nevertheless, employment growth and net migration will help support housing starts activity going forward,” said Mathieu Laberge, Deputy Chief Economist for CMHC. On an annual basis, housing starts will be in the range of 210,800 to 216,600 units in 2012, with a point forecast of 213,700 units. In 2013, housing starts will be in the range of 177,300 to 209,900

“...The changes to mortgage insurance criteria are unnecessarily jeopardizing the health of Canada’s housing markets and the broader economy.” That’s the conclusion from economist Will Dunning in CAAMP’s just-released State of the Residential Mortgage Market report. (Link) Dunning says his research suggests the Finance Department has created “a policy-induced housing market downturn” that could reinforce existing weakness. He calculates that the most recent (July 2012) rule changes will knock 11% of potential high-ratio homebuyers out of the market—that is, until they can come up with more net income or a bigger down payment. He lays out the following arguments: Jobs underpin the market… “Job creation is the key driver of housing demand” writes Dunning. “The ‘housing wealth’ effect (the increased confidence, and willingness to spend and invest, that results from rising house prices) is the single most important driver of job creation” What’s more, in the p