Mortgages

Sep 25 2016

canadian mortgage rates

#Mortgage rate war heats up as smaller lenders offer deep discounts – The Globe and Mail Less than a month after the Bank of Canada’s surprise interest-rate cut, a renewed mortgage-rate war is in full swing. But, this time, it’s being driven by an unlikely source: smaller lenders. real estate Only weeks after the country’s banks began offering eye-popping specials such as 2.84-per-cent five-year fixed mortgages, the average discounted five-year rate offered by the Big Six banks now sits around 2.79 per cent, driving the spread between the bank’s posted rates and the rates that customers actually pay to levels …

Sep 17 2016

reverse mortgage lenders

#For Reverse Mortgages, Try Smaller Banks With two of the nation’s largest banks out of the reverse mortgage business, many homeowners who are cash-poor and equity-rich wonder if they can still get reverse mortgages. The short answer is yes. They’ll just have to look beyond the branch next door, says Jim Cory, CEO of Legacy Reverse Mortgage in San Diego. “It is not difficult to find a reverse mortgage lender or get a reverse mortgage at all,” he says. “But they are not in the big banks anymore.” Wells Fargo abruptly stopped offering reverse mortgages in late June. In February, …