Author: Dustan Woodhouse

30 Mar 2017

The Glass Houses of Parliament

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

A sincere thank you to our regulators, Ministers, MP’s, etc. for your concern about my personal debt figures. And thanks for channelling this concern into recent deep and drastic cuts to my personal (home financing) purchasing power. Although certainly chopping Canadian families’ ability to buy a home in today’s rising market by a whopping 20% Read More

29 Mar 2017

Debt-To-Income: a Meaningless Metric

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

The human brain struggles with distinguishing between a real or imagined threat. Is it a snake? Or just a shoelace? One may kill us quick, and so we react fast and think it through later… or maybe never. Is the often cited, rarely critiqued, ‘debt-to-income’ ratio a snake or a shoelace? A killer lying in Read More

28 Mar 2017

Whiskey, Wine, and Weakness In Ottawa

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Our Government has concerns about their role with CMHC — essentially a mortgage insurance company — a role in which taxpayers are technically liable for their clients’ actions and behaviour (despite current CMHC premium reserves on hand to withstand up to a 40% market devaluation). These concerns were apparently part of justification used regarding recent Read More

27 Mar 2017

Consumer Debt vs Mortgage Debt

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

During a recent trip to our nation’s Capital with folks from Dominion Lending Centres and other mortgage groups, an Ottawa insider made an interesting comment: “We don’t care about consumer debt, because we don’t guarantee it.” This comment was made in an effort to justify recent increased restrictions placed on borrowers taking out insured mortgages Read More

10 Mar 2017

Is Today the Right Day To Buy Yourself A Home Or Not?

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Q. Is today the right day to buy yourself a home or not? A. Today is the right day assuming one has found a specific property that works for them on all levels. This question arises on a near daily basis within our social circles and most of the chatter around the topic is largely Read More

31 Jan 2017

2017 Spring Market Prediction & Warning

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Most Realtors I speak with on a day-to-day basis have buyers starting to stack up like cordwood, and a very limited supply of properties to show said buyers. Turns out the Pacific Ocean, US border, North shore mountains, and the ALR all remain intact. No expanded land supply in the Lower Mainland. Thus, no expanded Read More

16 Jan 2017

2016 Property Assessments vs. Market Value

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

SHORT VERSION: Do not rely on your provincial assessment for a fair market value of your property. The value printed on that document was arrived at during a time in the previous year, the market may have changed a bit since then, and not in the direction you might think. Do not rely entirely on the buyer’s Read More

5 Dec 2016

How a Backup Offer Can Secure Your Dream Home

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Have you found the house of your dreams? But there is already an accepted offer in place? OK, but are there outstanding subjects on the offer? Perhaps there’s a ‘subject to sale’ with a 72-hour trigger clause against the potential buyer, and this one condition might still be anywhere from two to six weeks from Read More

21 Nov 2016

Interest Rates & More

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Last week we touched on TD’s 0.15% move with existing variable rate mortgage clients. There is nothing new to add as TD remains the only lender to make such a move with variable rate clients. Perhaps TD back downs down soon, perhaps other banks join them – time will tell. The fresh news on rates Read More

16 Nov 2016

What Happened With Prime?

Posted by: Dustan Woodhouse

Dominion Lending Centres - Accredited Mortgage Professional

Did Prime go up? No. Did my Variable rate mortgage rate change? No, not unless your variable rate mortgage is with TD. So the Bank of Canada did not raise rates? No, in fact they are more likely to lower rates than increase them. But TD raised rates? Yes, but only by 0.15% and only Read More

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