Mindblown: a blog about philosophy.
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Mortgage practices up for review in Ontario
Homebuyers' increasing reliance on private mortgage lenders is a concern in the review of Ontario's Mortgage Brokerages, Lenders, and Administrators Act. The government is seeking public input on potential regulations or amendments. The discussion paper addresses consumer protection, professional conduct, new technologies, and oversight measures for mortgage administrators. Feedback is accepted until June 24. Continue…
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City Of Toronto Market Update | Get Your Mortgage for a LilLez!
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Get Your Mortgage for a LilLez! | OSFI Caps Mortgages for Highly Indebted Borrowers in 2025
Canada's banking regulator, OSFI, is imposing a cap on residential mortgages for highly indebted borrowers in anticipation of BOC rate cuts.Effective in Q1 2025, the new rule limits the number of mortgages a bank can issue exceeding 4.5X a borrower’s annual income.
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Get Your Mortgage for a LilLez! | Mortgage Renewals: Big Increases Ahead
Bank of Canada warns mortgage renewal rates will rise over 60% by 2026. Households with mortgages from 2021-2022 face highest financial pressure due to low initial rates.
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Get Your Mortgage for a LilLez! | Canada’s Lenders Reduce Mortgage Amortization Periods
Rising interest rates pushed amortization periods beyond 35-yr, posing risks to borrowers. Canadian lenders reduced mortgages exceeding 35-yr by 27% to $220B.
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R E F I N A N C E ! R E F I N A N C E !
Mortgage brokers streamline securing a home loan by liaising between homeowners and lenders.They help you find a loan that best fits your financial situation.
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Why today’s inflation numbers are good if you have a mortgage
New data from Statistics Canada shows that the country's annual inflation rate has decreased to a three-year low of 2.7 per cent in April. This could lead to a possible interest rate cut, benefiting consumers. Food prices, services, and durable goods contributed to the slowdown, with core CPI measures below 3 per cent for the…
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Get Your Mortgage for a LilLez! | Save With a Mortgage Broker
Mortgage brokers streamline securing a home loan by liaising between homeowners and lenders.They help you find a loan that best fits your financial situation.
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Get Your Mortgage for a LilLez! | How Much Mortgage Can I Get With $35K Salary?
It's estimated to be ~$170K, but depends on credit score, debt and interest rates. No more than 39% of your income should go towards mortgage payment, including property taxes and utilities.
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Royal Bank of Canada and Toronto Regional Real Estate Board collaborate to bring digital payment solutions to the Canadian real estate industry
Collaboration between RBC and TRREB allows members to benefit from automated accounting reconciliation and digital payments with RBC PayEdge. This innovative payment platform streamlines transactions, integrates with accounting software, and eliminates the need for physical cheques, providing a traceable record of electronic transactions. Continue to full article
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