Jim Thornton RMA

A bank may or may not be able to give you the best rate. Normally they reserve the best rates for their very highly qualified customers who have perfect credit scores and lots of money in a savings account. Normally banks have only a few loan programs and if you don’t fit into one of those programs, they can’t help you.

I have access to dozens of different lenders and loan programs and one of my most important tasks is matching up my clients needs with the best possible program.

MYTH: You Shouldn’t Refinance Unless You Can Drop Your Interest Rate By At Least 2%.

This old rule of thumb may have worked 20 years ago when most mortgages were fixed rate and less than $30,000 but times have changed and it just doesn’t hold true anymore. With larger loan amounts even a small change in the rate of interest can make a big difference in the amount of interest paid over the life of the loan.

The only way to truly know whether or not you can save money in your particular situation is to run the calculations and see. With the many loan programs available to help people purchase a home there also may be other considerations such as does your existing loan have a balloon payment or is it an adjustable-rate mortgage. Don’t determine your financial future based on a rule of thumb.

Soft landing or a crash: what lies ahead for Toronto's housing market?

Canadian Mortgage Trends predicting soft landing, rather than a crash, to the clearly overheated housing market in Toronto.

https://www.canadianmortgagetrends.com/2022/06/soft-landing-or-a-crash-what-lies-ahead-for-torontos-housing-market/

Soft landing or a crash: what lies ahead for Toronto's housing market? - Mortgage Rates & Mortgage Broker News in Canada As it becomes clear that home sales and prices in the Greater Toronto Area (GTA) are declining, industry professionals are trying to figure out what lies ahead.

Dealing with debt: Experts break down ways to manage as Canadians struggle - National |

https://globalnews.ca/news/8889913/how-to-manage-debt-canada/ via

Dealing with debt: Experts break down ways to manage as Canadians struggle - National | Globalnews.ca Many Canadians are struggling with debt. Experts gave Global News their best advice on how to manage debt, cautioning more will likely struggle in the months to come.

Working with a realtor you trust can make a huge difference in the buying process. It is important to rely on their expertise and market value assessments. Today’s real estate climate is like nothing seen in recent history. Competition is fierce and often when submitting you will have multiple competitors. Before submitted an offer, you need to have an accurate assessment of what the property and area is worth.

In a sellers’ market, especially where there are multiple offers, you need to make sure your offer is the most attractive. The days of going back and forth trying to negotiate the lowest possible price are in the rear-view mirror. It is advisable when making your offer, assess what the maximum price you are willing to pay is and submit that offer.