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10 Things That Have Changed With Mortgages Since Covid-19

Posted on Apr 28, 2020

By Jason Kay
President and Broker, My Mortgage Master

  1. Interest rates are going up and down. Fixed rates initially went down but then increased due to the lack of liquidity in the market and perceived risk. Variable rates went down(1.50%) with the Bank of Canada announcements. Lenders then decreased the normal discount(for example, Prime-.60% is now P...

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OSFI's New Mortgage Rules

Posted on Oct 26, 2017



On Oct 17th, Canada’s banking regulator (OSFI) announced a new mortgage stress test that will come into effect January 1st, 2018. This regulation will affect new mortgages that are currently not subject to mandatory mortgage insurance, meaning buyers who have 20% or more as a down payment.  

By law, borrowers with a down payment of less than 20% for a...

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Real Estate Scams – Stay Safe!

Posted on Aug 10, 2017



Con artists are everywhere, and the Real Estate industry is certainly not immune. Whether it’s contractors who take your money and run or rental scams on online classified sites like Kijiji, everyone needs to arm themselves with knowledge on how to steer clear of such frauds. So how can you protect yourself? Well let’s take a look at some of the di...

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Renovations That Increase Your Return On Investment.

Posted on Jul 26, 2017



How many other people look around their home and make that mental list of things to be done? Whether it’s a fantasy list (for me: an inground pool), or an actual “this needs to be done” list (backyard landscaping), I think we all have ‘em. But what are your reasons behind your renovation list? Is it just for your own personal needs or wants? Or is...

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Priorities For Your Move-In

Posted on Jul 06, 2017



Moving into a new home is an exciting time. But before you get into the fun stuff like décor, new furniture and paint schemes, there are some basics that should be covered first. 

Change the locks.
Just do this. Even if you’re promised that new locks have been installed in your home, you can never be too careful. I used to be a dog walker, and I still...

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Backyard Pools: Should you jump right in?

Posted on Jun 29, 2017



Nothing quite says summer more than the splashing and swimming in a backyard pool. Or lazily relaxing on an inflatable raft, without a care in the world. So, here’s the big question… is it worth it? Living in beautiful Ontario, we don’t get much time to enjoy such an expensive luxury each year, but can you really put a price on a backyard oasis? A...

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