Bellow is an article taken from the Globe & Mail Today that is very interesting to read. However I do want to point out that the article quoted CMHC who was the only analyst that predicted an increase in the housing sector, all major banks predicted a reduction in activity and prices. The thing that should concern us even more is the fact that US home sales are not improving, with prices still dropping. The facts are most banks have abandoned the selling of foreclosed homes and are now renting them out should be a sign of how things are not improving. Canada makes and supplies many of the building products used in US home construction including lumber. Since are economy relies heavily on exports to the US it is hard to imagine Canada climbing out of a recession during a period of Jobless growth and once the spending taps are closed this will become more evident. Of course these are my opinions based on the facts and how I interpret them so I will continue to provide you with the facts so you can make your own conclusions. I still sell 90% variable rate products which start at .75% below prime (1.75%) and in my opinion is the way to go in the current market conditions so click here if you would like to know more.


Paul Mangion

Toronto Mortgage Broker

416-204-0156

paul@paulmangion.com

http://www.gtamortgagematters.com/

High Ratio Mortgage Financing with Toronto Mortgage Brokers

Mortgage Loan Insurance Is Required By Lenders in Canada with less than 20% down payment


When you want to buy a house getting a mortgage loan thru a Toronto Mortgage Broker is the way that most people should choose. Before you get a loan to purchase a home you need to understand that mortgage loan insurance will be required by lenders if you have less than 20% down payment.

This loan insurance is needed because it protects the lender in the event of a default by you on the mortgage payments, and there is a deficiency in the sale. This insurance is not like all other types of insurance due to the fact that a premium payment is paid once upfront and can be added to the mortgage.

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