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Shawna MacDonald is Saskatoon's best Mortgage broker!

posted by The Mortgage Associates    |   September 17, 2014 16:20

Shawna MacDonald"I have used Shawna to purchase two properties, and also had the opportunity to use her to renew one of the mortgages on one of my existing properties.  I can honestly say that I would never go to anyone else but her.  She works hard for your business, and works hard to meet your needs.  She is extremely knowledgeable, funny and is always willing to help you out.  I am so thankful to have used her!  She is Saskatoon's best mortgage broker!"

Wesley Wizniuk & Lee Adams, September 2014






Loonie slightly higher ahead of Fed announcement

posted by The Mortgage Associates    |   September 17, 2014 08:33

Loonie slightly higher ahead of Fed announcement

Article by Linda Nguyen, The Globe and Mail, September 17, 2014

"With no domestic economic data set for release Wednesday, the loonie will be looking for most of its direction from a key announcement from the U.S. Federal Reserve.

The Canadian dollar was sightly higher in morning trading, up 0.09 of a cent at 91.25 cents US.

Markets are awaiting the latest interest rate announcement by the U.S. central bank to be released at 2 p.m., followed by a news conference by Fed chair Janet Yellen. What traders will be carefully eyeing is whether the Fed will be changing the language it uses when it speaks about its intention to raise interest rates."

To read the full article, please click here.

Bank of Montreal lowers five-year fixed mortgage to 2.99%

posted by The Mortgage Associates    |   September 16, 2014 08:01

Bank of Montreal lowers five-year fixed mortgage to 2.99%

Article by Garry Marr, September 9, 2014, Financial Post

"Bank of Montreal is lowering the rate on its five-year fixed rate closed mortgage to 2.99%, a move that in the past has triggered a rate war among its competitors.

BMO quietly started promoting the new rate on its website Tuesday. It amounts to a 30-basis point drop from the 3.29% it was advertising earlier this week."

To read the full article, please click here.

Just becuase you can get a big mortgage doesn't mean you should

posted by The Mortgage Associates    |   September 15, 2014 08:41

Just because you can get a big mortgage doesn't mean you should

Article by Douglas Hoyes, HUFF Post, September 14, 2014

"The average house price is expected to reach $396,000 in 2014 and $402,000 in 2015 according to the Canada Mortgage and Housing Corporation. And that doesn't even come close to reflecting higher prices in cities like Toronto and Vancouver. Since higher house prices mean larger mortgages, how can we determine just how much mortgage is too much of a risk?

The "cash flow" answer is that if you can't afford the monthly mortgage payment (and property taxes, and repairs and maintenance) your mortgage is too big. The "equity" answer is that if you have less than 10 per cent equity in your house, you are at higher risk of financial problems.

We recently dug deeper into our analysis of everyone who filed a bankruptcy or consumer proposal with my firm, Hoyes Michalos & Associates, and we discovered that insolvent debtors who own a home almost always have a high ratio mortgage:

More than nine in 10 insolvent homeowners had mortgage debt exceeding 80 per cent of the value of their home, the traditional definition of a high risk mortgage. Worse, seven in 10 had less than 10 per cent equity and 64 per cent reported having no net realizable value in their home at all."

To read the full article, please click here.

CMHC could force banks to pay deductibles on mortgage insurance

posted by The Mortgage Associates    |   September 12, 2014 08:36

CMHC could force banks to pay deductibles on mortgage insurance

Article by Garry Marr, September 8, 2014

"The Canada Mortgage and Housing Corp. is looking at a new formula to push some of its losses on to financial institutions, essentially forcing them to pay a deductible on mortgages insured with the Crown corporation before claims are paid, according to sources.

The Financial Post has learned the Office of the Superintendent of Financial Institutions is involved in discussions with CMHC, which it oversees, while the Canadian Bankers Association is said to be against the measure.

“The CBA has ongoing discussions with CMHC about a variety of issues in the mortgage and housing markets,” said Maura Drew-Lytle, a spokesperson for the CBA, in an emailed statement. “The International Monetary Fund made a really vague reference to the notion of a mortgage insurance deductible in its Financial Sector Assessment report on Canada, but you would have to speak to CMHC about whether or not it is an idea that they are considering."

To read the full article, please click here.

Over the entire process of buying a house and getting a mortgage, Shawna was the smoothest part

posted by The Mortgage Associates    |   September 11, 2014 08:17

Shawna MacDonald"Was very happy with Shawna and the rest of her team. Everything was clearly explained and everything was handled promptly(all calls returned quickly and any questions/concerns answered well). Over the entire process of buying a house and getting a mortgage, working with Shawna was the smoothest part and I felt like I was very informed during the entire process. Thx again!"

Sol Bergren, September 2014






Shawna's friendly, caring personality helped ease the nerves as a first time home purchase

posted by The Mortgage Associates    |   August 28, 2014 14:54

Shawna MacDonald"As a first time home purchase, Shawna made the process go smoothly.  Her friendly, caring personality helped ease the nerves."

Adrian & Sheila Thomas, August 2014







The Ultimate List of Homebuyers Tips

posted by The Mortgage Associates    |   August 27, 2014 08:20

The Ultimate List of Homebuyers Tips

Article by Andy Fulton, April 21, 2014

"The Internet is awash with short and incomplete lists of tips for homebuyers. For the many Americans unfamiliar with the home-buying process, trying to determine which tips to focus on could be confusing. Upon reading these lists, aspiring homebuyers must ask themselves, “Are these tips that industry experts would actually recommend, and are they worth spending my valuable time on?”

To remedy this problem, Market Leader gathered tips for homebuyers from half a dozen sources, put them all on one giant list, and, after removing the trivial and contradictory ones, surveyed almost 400 real estate agents about the importance of each tip. For the 17 tips featured in this survey, participants indicated whether they found them to be very, moderately or slightly important for homebuyers – or not recommendable at all!"

Click here to read all the full article.

Shawna and her team were on top of everything from start to finish.

posted by The Mortgage Associates    |   August 26, 2014 08:42

Shawna MacDonald"I cannot express how happy we were with Shawna and her team! They were right on top of everything from start to finish. We had a quick turnaround with our sale and purchase and Shawna made things happen quickly and smoothly. This is the second time we have used Shawna for our mortgage broker, and would not use anyone else! Her staff was wonderful and always ready to help. Thank you to Shawna and her team for helping us with our recent purchase! Definitely be using her again on our next transfer!!"

Tammy Almusa, August 2014





First-time buyers are paying up

posted by The Mortgage Associates    |   August 25, 2014 09:35

First time buyers are paying up

Article by Mortgage Industry Reports, August 20, 2014

"Each year about 300,000 Canadians buy their very first home — at least, that’s how many did in the years 2009-2013 (source: Altus Group via The Globe and Mail).

Typical first-timers have been purchasing homes that are roughly 11.6% cheaper than the national average. That implies up to a $355,000 price tag for today’s typical first-time purchase, much higher than previous reports have estimated.

At that price, 10% down and a 2.89% five-year fixed mortgage will get you a $1,530 monthly payment. That’s a sizeable obligation for the one-half of first-timers who lie in the 25- to 34-year-old age bracket (Altus’s data)."

To read the full article, please click here.