Tag Archives: winnipeg mortgage brokers

Mortgage rates are rising

Expect an increase of up to 25 basis points

 
Mortgage rates have been so low, for so long, that it almost feels like they’ll never rise. Even the Bank of Canada’s latest decision to keep overnight target rates at 0.5% is the equivalent of saying: We’re keeping with the status quo.
 
But according to media reports banks have quietly increased their own prime lending rate by 0.5%, thereby reducing the discount for new variable-rate mortgage amounts.
 
“It’s a bit overstated,” says RateSpy.com founder and independent mortgage broker, Robert McLister, but the fact remains: lenders have tightened the discount new borrowers can expect on variable-rate mortgages.
 
The most competitive lenders—typically those that work with independent mortgage brokers and specialize in mortgage lending—raised their rates by 0.15% to 0.25%, while some major banks increased their variable rates by as much as 0.25%.
 
How does that translate if you’re currently shopping for a mortgage? It means you can no longer find a 2.39% five-year variable rates, says Jake Abramowicz, an independent mortgage broker. Now, the new low is around 2.79%.
 
“There are two reasons why we’re seeing this small rate increase,” says Abramowicz. “In anticipation of the U.S. Fed raising rates in mid-December and because a lot of lenders have reached capacity and want to slow down their new mortgage business.”
 
McLister adds that other, unseen, factors are also prompting these small rate increases. “Canadian lenders are being hit with market risk premiums, higher deposit rates, more restrictive securitization rules and higher capital requirements.”
 
In fact, decisions made by the federal government in the last few years have created a more expensive environment for banks and mono-lenders to do business, says McLister. “Rising rates are a side effect of government policies designed to reduce financial system risk.”
 
What does it mean for the end-user: the home buyer? On a $360,000 mortgage, the newly increased rate would add $72 to a person’s monthly payments. On a $720,000 mortgage, payments would increase by $144 per month.
 
The basis point increase certainly adds to a person’s monthly mortgage payment, but fears of the mortgage market grinding to a halt are exaggerated, says Abramowicz. “I don’t think a 30 to 40 basis point increase in rates will cause a slowdown in the housing market.”
 
Also, the recent increase doesn’t mean that rates won’t fall again in the near future, says McLister. But absolute rock-bottom rates are over. “Policy changes [in the last few years] will keep rates higher for years to come,” says McLister.
 
And governmental policy tweaks aren’t over, yet. The feds are seriously considering creating a tiered minimum down payment system, which could see force buyers to save a minimum 7% to 10% down payment before buying a home valued over $500,000. The feds are also toying with the idea of implementing lender insurance deductibles—where banks would be forced to pay a deductible on any mortgage default insurance claim they make. At present the banks can make a claim and get fully reimbursed for the defaulted loan, but are not required to pay a fee.
 
by Romana King for MoneySense, December 7th, 2015
 
Source: MoneySense.ca

How to overcome home buying obstacles

(NC) Whether you’re a first time home buyer or experienced in the world of home ownership, there are plenty of unexpected challenges you’ll have to overcome in this process.
 
According to the 22nd Annual RBC Home Ownership Poll,
choosing the right property (35 per cent) tops the list of challenging decisions home buyers experience, followed by deciding how much you can afford (21 per cent) and getting a home inspection (10 per cent).

 

RBC offers the following tips:

 

• Find the ‘right’ property: Research everything from the type of property you want, to location, to the condition of the home. Know what trade-offs you are willing to make.

 

• Understand the total cost: Calculate both one-time costs such as down payment, appraisal and legal fees, and ongoing costs such as mortgage payments, utilities, maintenance. Balance those costs against your lifestyle.

 

• Do a home inspection: Be aware and ask questions, and know the full condition of the home before closing the deal. What you learn in advance could help you save money and ensure you pay the right price for your home.

 

More information is available at www.rbc.com/firsthome.

 

Source: www.newscanada.com

 

Message from Realtor Rosalie Drysdale

 
Coming to the end of your term with your mortgage, needing to resign for the next five years. Contact one of the Mortgage Brokers from my website
 
http://999-rose.ca/wp/services/financial/
 
Contact one of the Mortgage Professional below to help you with the progress and let the Mortgage Broker know who referred there services to them.

 

What happens to your credit rating when you miss a mortgage payment ?

Your mortgage payment doesn’t always show up on your credit report, but if you are late on multiple payments, it could affect the interest rate you’re offered from the bank when your mortgage comes up for renewal again.
 
If you miss three consecutive payments or more in a row, it will lead to foreclosure proceedings, which is when the bank or lender starts the process of legally taking ownership of your property due to the lack of payments. Banks or lenders don’t want to own your home, but if the lender isn’t getting paid, it will try and sell the property in order to reduce its losses. Foreclosure shows up under the public record portion of your credit report.
 
You may assume that bankruptcy is the worst thing you can do for your credit; however, if you are applying for mortgage financing, going through a foreclosure is the absolute worst thing you can do for your credit. Bad credit can be rebuilt fairly quickly, but very few lenders will look at providing financing for you if you have a previous foreclosure showing up on your credit report, regardless how strong your current credit is.
 
If you find yourself in a situation where you may not be able to make your mortgage payments, contact your mortgage lender or mortgage agent to find out what can be done. The same thing is true with any creditor.
 
If you don’t think you’ll be able to make a payment to any one of your creditors, it is a good rule of thumb to contact them to see if something can be worked out, especially if you contact them before the due date. I’ve never seen the attitude of pretending it will all go away actually work for anyone.
 
I understand that despite your best efforts, an emergency may come up, preventing you from being able to make a payment. However, the banks still feel that it is your responsibility to keep track of your accounts and pay your bills on time. Get your head around this rule and you will have a great foundation to always have amazing credit.
 
BOOK EXCERPT by Richard Moxley
 
Contributed to The Globe and Mail
 
Published Monday, Jul. 20, 2015 6:00AM EDT
 
Last updated Tuesday, Jul. 21, 2015 8:55AM EDT
 
Excerpted with permission from The Nine Rules of Credit: What Everyone Needs to Know by Richard Moxley, Published by Self-Counsel Press.
 
Source: theglobeandmail.com

New Mortgage Prepayment Stats

Manulife released new data this week on homeowners’ tendency to prepay their mortgages, as well as their ability to withstand interest rate hikes. Here’s what those numbers revealed.
 
Prepayment Trends
 
Mortgages with big prepayment allowances save a small fraction of the population a lot of interest. There’s no disputing that. But for most, they are one of the more over-rated mortgage features. Manulife’s Homeowner Debt Survey supports that assertion.
 
The report found that while 40% of mortgage holders paid extra on their mortgage last year, those payments totalled only 3.3% of the average Canadian’s mortgage balance (which is $190,000). Moreover:

  • Fewer than 1 in 15 mortgagors pre-paid more than $10,000.
  • Only 1 in 50 prepaid more than $25,000 (i.e., more than 13% of the average Canadian mortgage balance).

This chart from Manulife helps explain why 6 in 10 mortgagors are passing up prepayments.

 

Extra payments
 
Borrower Stability
 
It’s encouraging that 56% of homeowners said they reduced their debt in the past year. That’s up from 51% a year ago.
 
Clearly, the majority of borrowers have household debt under control. But Manulife’s survey revealed some sobering statistics on the minority, like the fact that 40% of homeowners claim they’d struggle to make their mortgage payments within three months of being out of work.
 
In the event that the primary income-earner lost his/her job:

  • One in six homeowners said they’d struggle to make their regular mortgage payment within just one month.
  • Over a quarter (27%) would struggle to do so after three months.

And then there are interest rate hikes to consider:

  • More than a third of homeowners surveyed would encounter “financial difficulty” if their mortgage payment increased by just 10%.
  • 15% of mortgagors said they could not absorb any increase in their payment.

 
Now, mind you, surveys have a funny way of drawing out biased responses. And this may be one of those cases.
 
CAAMP economist Will Dunning told Amanda Lang his research suggests that many people have paid more than they’re paying now. Yet those same people say they can’t afford higher payments.
 
“Probably, they’re not telling us what they can afford,” he said. “They just don’t want to see their payment rise…”
 
Whatever the case may be, it appears there is still ample room for financial improvement before a sizable minority of homeowners achieve a good night’s sleep.
 

The Survey: The Manulife Bank of Canada poll surveyed 2,372 Canadian homeowners between ages 20 to 59 with household income of $50,000 or more. The survey was conducted online by Research House between February 10 and 27, 2015. National results were weighted by province, income and age.
 
Source: canadianmortgagetrends.com

2015 CMHC Mortgage Consumer Survey

CMHC consumer survey2015Around this time each year, CMHC releases its Mortgage Consumer Survey, a keenly insightful report for anyone in the mortgage business.

Its loaded with industry stats, including this year’s headline number: broker market share. CMHC now pegs broker share at 42% of mortgage originations among repeat buyers.

Among the coveted first-time buyer segment, brokers now own the lion’s share (55%) of the market. Last year it was 48%. Lenders who are not in the broker channel, take note of this trend.

But this isn’t all that’s eye catching. Per usual, we’ve combed through this year’s report and yanked out all the other good stuff. If you’re pressed for time, check out the “must-read” data that’s highlighted in red. (The comments in italics are ours.)

 

Online Information Gathering

  • 78% of mortgage consumers turned to various online sources to discover mortgage options and features (unchanged from 2014).
  • Out of that 78%:
    • 67% used an Internet search engine
    • 23% said they found their lender website through online advertising
    • 28% said they found their broker website through online advertising
      (This can include search engine pay-per-click ads, online banner ads, rate comparison sites, etc.)
  • 70% of mortgage consumers who went online used a mortgage calculator.
    • 51% used a calculator from a lender website
    • 16% used a calculator from a broker website
  • Of those using an online mortgage calculator:
    • 62% used one to determine mortgage payments
    • 33% used one to compare mortgages
    • 34% used one to gauge mortgage affordability
  • 17% of mortgage consumers reported using a mobile device.
    • 22% of those used a mortgage-related app
      (As reported last week, comScore found that 88% of a typical smartphone user’s time is spent using apps. Apps are clearly used much less for mortgage shopping than for other things.)

 

Broker Share and use

Broker share continues its upward trend:

  • 42% of mortgage originations among repeat buyers are handled by mortgage brokers.
    • Versus 32% in 2012
      (Among other things, industry advertising initiatives, the media and the internet rate ads may be playing key roles here.)
  • 55% of mortgage originations among first-time buyers are handled by mortgage brokers.
    • Versus 48% in 2012 and 2014
  • 21% of those renewing used the services of a mortgage broker.
    • Versus 23% in 2014
      (This number has still been uptrending over the long term. In 2010 it was 13%.)
  • 79% of recent buyers said they were satisfied with their experience using a broker.
  • 72% said they would likely use their broker again in the future.
  • 73% said they would likely recommend their broker to family or friends.
  • 17% of clients reported changing brokers during the mortgage process.
    • 35% of those said they changed in order to get a better rate
      (This was the number one reason for the switching.)

 

Lender Loyalty and Channel

  • 42% of recent homebuyers used a mobile mortgage specialist to arrange their current mortgage.
  • 79% of recent homebuyers said they were satisfied with their lender experience (same as with brokers).
  • 76% said they would likely use their lender again in the future.
  • 69% said they would likely recommend their lender to family or friends.

Lender satisfaction among recent buyers, by channel:

  • 84%: were satisfied with their mortgage specialist.
  • 77%: were satisfied with their branch rep.

Most mortgage consumers remained loyal to their existing lender:

  • 86% of renewers remained loyal to their existing lender.
  • 77% of repeat buyers remained loyal to their existing lender.
    • Versus 67% in 2014
  • 47% of first-time buyers arranged their mortgage with their primary financial institution.
    • Versus 54% in 2014

Of those who switched lenders:

  • 60% used the services of a mortgage broker.
    (Same as last year.)
  • 63% cited interest rate as their primary reason.
    • Versus 40% in 2014
      (This is a major change in just 12 months, which makes us a bit skeptical. Consumer education, falling rates and the growing prevalence of rate comparison tools may partly contribute to this surge.)

 

Product offering from mortgage professionals

  • 72% of broker clients reported being offered mortgage life insurance.
  • 78% of lender clients reported being offered mortgage life insurance.
    (What this doesn’t tell you is that lender penetration rates are notably greater than brokers’ for creditor life products. Mind you, we’re unaware of good data on this phenomenon. It’s more of an anecdotal observation based on lender and supplier reports.)
  • 48% of broker clients reported being offered a line of credit.
  • 66% of lender clients reported being offered a line of credit.

 

Renewal Process

  • 71% of renewers reported they were notified in advance by their lender that their renewal date was approaching.
    • 67% of those were notified within three months of their scheduled renewal
  • 23% indicated they were contacted in advance by a mortgage broker regarding their upcoming renewal.
  • 60% renewed before their scheduled date.
    (Lenders love to lock up clients early—to keep them from shopping around.)
  • 61% reported they were “totally satisfied” with their decision to renew in advance of their actual renewal date.
  • 55% said their main reason for renewing in advance was to avoid a perceived increase in rates.
  • 19% indicated that the main reason for renewing early was because their mortgage professional convinced them that it was the right decision.
  • 49% of renewers have their mortgage payment set higher than the minimum required payment.

Advising renewal/refi clients to keep mortgage payments at the same level (to reduce their amortization) can lead to a:

  • 66% increase in likelihood of using the same mortgage professional again.
  • 55% increase in client satisfaction.

 

Customer follow-up

  • 50% of mortgage consumers who used a broker were contacted by their mortgage professional following their mortgage transaction.
    • Versus 51% in 2014
  • 34% who used a lender were contacted.
    • Versus 35% in 2014
  • 40% of mortgage consumers “totally agreed” that their post-transaction contact was useful.
    (Are people getting tired of home improvement and gardening tips from their mortgage advisor?)

Types of follow-up contact mortgage consumers would have considered useful:

  • Advice on long-term mortgage financial strategies.
    • 25% of lender clients
    • 32% of broker clients
  • Housing market information.
    • 13% of lender clients
    • 21% of broker clients
  • Information on how to manage financial difficulty.
    • 14% of lender clients
    • 17% of broker clients
  • Investment opportunities.
    • 14% of lender clients
    • 17% of broker clients

 

And perhaps the number-one stat that should leave an impression on any aspiring (or seasoned) broker:

  • Post-transaction contact with clients can increase the likelihood for repeat business by nearly 53%.

 


Survey background: CMHC’s survey was conducted online and polled 3,510 recent mortgage consumers who had undertaken a mortgage transaction in the preceding 12 months. CMHC has conducted this survey since 1999.

Source: CanadianMortgageTrends.com

Restricted Mortgages. The Rate Sells

One basis point (“bps”) equals one one-hundredth of a percentage point (0.01%). On a $300,000 mortgage, a rate that is one bps higher boosts the payment by a scant $1.49 a month. From the way some folks select a mortgage, however, it might as well be $149 a month.
 
Many consumers simply have the blinders on to anything other than the interest rate. That’s leading more and more lenders and brokers to undercut each other by as little as one bps. This is often all it takes to get their phones to ring.
 
According to this author’s mortgage comparison website data, the lowest rate for a given term garners about 39% of visitor clicks. Meanwhile, the second-lowest rate attracts only 15% of clicks.1 That’s despite the second best rate being only 1-2 bps higher on average. It is this type of rate sensitivity that’s driving the growth of restricted mortgage products.
 
Restricted mortgages are those that cut prepayment privileges and/or make it expensive or more difficult to discharge the mortgage before maturity. Those limitations reduce a lender’s costs, making it possible to shave precious basis points off the interest rate. A growing number of lenders are now selling such mortgages, including BMO, Merix, MCAP, RMG, Industrial Alliance and Canadiana Financial, among others.
 
“These products are really for a high-ratio client who’s going to stick with it for 5 years,” says Suzanna Stefanec, VP, National Sales & Products at Radius Financial. “You can’t refinance over 80% loan-to-value anyway.”
 
“You’re seeing all these lenders coming out with restricted mortgages so there’s obviously demand,” she adds. “These low-frills products are almost the wave of the future.”
 
Stefanec’s company launched its own lower-frills variable-rate mortgage this spring (details below). “Our fixed RateWise has been a success for us. So with consumer demand for variables coming back, it was a no brainer to create a version for ARMs (adjustable rate mortgages).”
 
But not everyone’s cut out for a restricted product. “The wrong person for this mortgage is a young couple with ample disposable income who’s just starting out and thinking of a family,” says Stefanec. “They may get a starter home knowing that in a few years they’ll likely have kids and need a larger house…If they have that income, they’ll want to make that move,” in which case, choosing a restricted mortgage that charges a penalty to increase the loan amount isn’t so smart.
 
“It’s also not for someone who can prepay more than 10% of their mortgage, or who may need to pull equity out of their home for renovations, a cottage purchase, etc…Those people will want additional flexibility and be willing to pay for it.”
 
Keep in mind, less than 1 in 5 Canadians even made a lump-sum prepayment on their mortgage last year, according to CAAMP data. For that reason, 10% annual prepayments are more than enough for most homeowners. It’s the refinance limitations that you’ll really want to weigh carefully.
 
Source: Canadian mortgage trends

Mortgage Rates for February 16, 2015 — By Peter Paley

                                           
Peter Paley - Your Home and Mortgage Peter Paley

Come visit Realtor Rosalie Drysdale Website each week for my weekly Mortgage Rates.

Whether you are looking to purchase, refinance, or renew, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Call today!

At Invis, we are always aware of the current environment and resulting implications, so at any time we can recommend a mortgage that gives you an edge and meets your current needs and future goals.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.69%

2 YEARS

2.94%

2.39%

3 YEARS

3.44%

2.54%

4 YEARS

3.94%

2.64%

5 YEARS

4.79%

2.74%

7 YEARS

6.04%

3.39%

10 YEARS

6.50%

3.84%

Rates are subject to change without notice. OAC E&OE

Prime Rate

2.85%

5 yr variable

2.20%

Looking at Purchasing that New Home, Needing a Mortgage,

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

Contact Peter Paley at Invis Mortgage

 

Peter Paley Mortgage Associate Send an EmailVisit Website

 

Should you switch your mortgage ?

Canada finds itself in uncharted territory with historically low interest rates. This has a lot of people wondering if it is worthwhile trying to get out of their existing mortgage and converting into one with a lower interest rate.
 
We wish we could give you an easy answer and say yes – but unfortunately, it is a case-by-case situation. Yes, rates are historically low and yes you can, in many instances, lower your mortgage payments significantly by converting your current mortgage. But in doing so, you will be faced with what the banks call a ‘pre- payment penalty.’
 

Pre-payment penalties

 
Banks create pre-payment penalties to recoup the money they expect to lose by renegotiating your arrangement. Borrowers have to remember that when you sign a mortgage, you’re essentially entering into a ‘contract’ with the bank. You are contractually obligating yourself to pay ‘x’ dollars a month over the next ‘x’ number of years. (Our mortgage calculator can give you a more specific figure). In essence, your mortgage payment contract represents an ‘annuity’ or payment stream to a bank which it in turn can sell to a third party investor. This is particularly true for non-traditional banks which ‘securitize’ their funds through the market. So when you come along and decide you want to renegotiate this contract, the bank has to calculate how much it stands to lose in the process and then create a pre-payment penalty to offset the loss.
 
This penalty can range from three months worth of interest to a much higher amount based on what is called the ‘interest rate differential’ or IRD. The IRD can be a complicated calculation and differs from bank to bank, but in essence it simply calculates the differential between what you were going to pay if you continued with your current mortgage versus what the bank can resell that money for in the current market.
 
For example, if you have three years left on your current five-year mortgage at 5.79% and you find a better deal with a different lender, your current bank will take the balance of the money owing, determine what rate they can sell that for in today’s market (for example, a three-year term at 4.5%) and then calculate your penalty based on the ‘deemed lost revenue.’ Again, this will be done on a case-by-case basis, and in some circumstances where it is a large mortgage with a lot of time left, the IRD penalty can be significant.
 

Worth switching?

 
In many instances, it is still worth paying the penalty because the lower rate creates a significant savings, but again, it is case by case.
 
It is important to note that when we talk about interest rates, there are two different types of ‘rates’ – floating (variable) and fixed. The variable rate mortgage (VRM) is priced based on the prime rate, and the prime rate is affected by the Bank of Canada decisions. Currently, the prime rate is below 3% and is expected to stay there for the balance of 2009. Alternatively, the fixed rate mortgage is priced based on the bond yield. The bond yield is not tied directly to the Bank of Canada and can have more fluctuations.
 
Today’s market environment presents an excellent opportunity for anyone who is currently in a fixed rate mortgage over 5% with a few years still remaining to switch to a variable rate mortgage below 3.5%. What is particularly intriguing is that there is strong speculation that the bond yields have room to soften over the coming months, which will result in a further lowering of the long-term rates. The key point for borrowers to remember, when trying to compare apples to apples, is that a variable rate by definition is ‘floating’. In other words, you may look at the current prime rate and think it’s fantastic, but remember – prime will not stay that low for five years. It will fluctuate with the market and rise once the Bank of Canada shifts its focus back to inflation.
 
However, this doesn’t mean that converting to a variable mortgage today has to represent a risk. Virtually all variable rate mortgages (VRMs) allow you to convert to a fixed rate mortgage at no cost at any point in your mortgage term. If predictions hold true, we may very well see the long-term rates hit historic lows within the next year. This will present investors with the opportunity to take a VRM today and get immediate savings over your current fixed-rate mortgage, and then convert into a fixed-rate product (typically locked in at three years) within the next year if they come down any lower – thus locking in your savings.
 
Of course, everything comes down to the amount of the penalty, and there will definitely be situations where it makes no sense to pay a high fee to switch. Other property owners may be concerned about having to pay the penalty upfront. Even if you do stand to save $20,000 on your mortgage over the next four years, what if you don’t have an extra $10,000 available to pay the penalty today? If you find yourself in that situation, simply capitalize your penalty into your new mortgage – in other words, add the amount of the penalty onto your new mortgage.
 
Let’s say, for example, the penalty on your existing mortgage is $10,000, and you don’t have that kind of cash kicking around. In many cases, the rates are so low that even if you increased your mortgage by another $10,000 (to cover the cost of the penalty), both your monthly payments and the balance at the end of the term would be lower. If you can afford to keep your payments at their current level, adding the penalty to the new mortgage and lowering the rate will invariably lower the balance at the end of term and may shave years off your mortgage. The only caution with capitalizing your mortgage penalty is that if you switch lenders and change the actual dollar amount on the loan, you may have to have the mortgage re-registered at land titles, and this will trigger legal fees. But again, it may well be worth it.
 

What to do next?

 
The bottom line is that with rates this low, it is well worth analyzing your current mortgage to determine if you’re in a position to consider switching. The first step is to call your current lender and ask them how much the penalty would be if you sold your house and paid off the mortgage today.
 
If you were to perform such an analysis and investigate the options with a broker, they would need the following information:

  • Amount of your penalty
  • Balance of your mortgage
  • Current interest rate
  • Current term and how much time is remaining on that term
  • Current monthly payments
  • Balance owing at the end of your current term

So, take the time to determine this information, and at least have the discussion. It’s worth a quick call. You never know – it could save you a lot of money.
 
Peter Kinch is a mortgage broker in Port Moody, BC and author of The Mortgage Minute and co-author of 97 Tips for Canadian Real Estate Investors.
 
Source: WhichMortgage.ca

Mortgage Rates for January 21, 2015 — By Peter Paley

                                           

Peter Paley - Your Home and Mortgage Peter Paley

Big news! Bank of Canada lowers overnight rate

In a surprise move, the Bank of Canada announced today that it is lowering its key rate down to 0.75 per cent in order to “provide insurance” against the  risks to the economy posed by the sharp drop in oil prices. This is the first time the overnight rate has changed since September 2010.

If you’ve got a variable-rate mortgage, need a new mortgage, are renewing, or want to consolidate debt at the lowest cost funds, this is very big news indeed!

Get in touch today for help determining whether a fixed or variable-rate mortgage will work best for your situation.

The next rate-setting day is March 4th

Come visit Realtor Rosalie Drysdale Website each week for my weekly Mortgage Rates.

Whether you are looking to purchase, refinance, or renew, we can help you decide whether a fixed or variable-rate mortgage will work best for your situation. Call today!

At Invis, we are always aware of the current environment and resulting implications, so at any time we can recommend a mortgage that gives you an edge and meets your current needs and future goals.

We regularly receive short-term rate promotions that are not posted online, which means our rates change frequently. Please contact us for these unpublished rate specials.

Terms

Posted Rates

Our Rates

6 MONTHS

3.14%

3.10%

1 YEAR

2.99%

2.69%

2 YEARS

2.94%

2.59%

3 YEARS

3.44%

2.69%

4 YEARS

3.94%

2.87%

5 YEARS

4.79%

2.94%

7 YEARS

6.04%

3.79%

10 YEARS

6.50%

4.39%

Rates are subject to change without notice. OAC E&OE

Prime Rate

3.00%

5 yr variable

2.40%

Looking at Purchasing that New Home, Needing a Mortgage,

Contact Peter Paley at Invis Mortgage

Whatever your need is today – first or next home, renewal, refinance, renovation financing, equity take out, business–for-self mortgage, investing in property or a second/vacation home, contact us for a review of your situation, and the advice you need to achieve your homeownership dreams. After all, the right mortgage can build your wealth and save you thousands of dollars

Every single day we’re making homeowner dreams come true. And we’re here to help you.

 

Peter Paley Mortgage Associate Send an EmailVisit Website

 

Recapping 2014 Year with Realtor Rosalie Drysdale

Outstanding_agents_BW999-rose -- For Sale

Time does not stop for anyone, and as we hurry around getting things ready to Usher in New Years 2015.

May we take time to remember those that are have to work in the NEW YEAR 2015, May this New Year 2015 bring Health and Happiness to All.

Here is a Short recap of what has happen for 2014

 

Thanks you to all my Twitter Followers @RosalieDrysdale . Thank you to all who visit my Websites, which is 999-rose.ca and Winnipeghomevalue.com.

 

Thank you to all the Mortgage Brokers in Winnipeg that I have worked with over the 2014 Year. May 2015 be a great and wonderful year.

Last thing before we close this Letter for 2014, thanks for my Real Estate Team who work hard in the background getting my listing posted on all my websites.

Looking to Sell or Purchase a home in the New Year 2015, Contact me Realtor Rosalie Drysdale to help you put together the Best Team to Sell your Home.

Thank you to all my pass clients who have sold and purchased through me. Looking forward to helping all who are ready to sell or purchase a new property in 2015.