Niagara Regional Mortgage Services Inc.



Investors Group unveils 3-year mortgage at 1.99%

CBC News - 2014-05-13

Canada’s mortgage market was shaken up with a mortgage rate below two per cent on Tuesday as Investors Group unveiled a three-year variable rate mortgage at 1.99 per cent.

The Winnipeg-based financial services firm posted the rate on its website Tuesday, offering a 36-month term at a variable rate 101 basis points below IG’s current prime rate of three per cent.

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Mortgage Lenders Ease Rules for Home Buyers in Hunt for Business

The Wall Street Journal - 2014-04-18

Mortgage lenders are beginning to ease the restrictive lending standards enacted after the housing boom turned to bust, a sign of their rising confidence in the housing market.

While standards remain tight by historical measures, lenders have started to accept lower credit scores and to reduce down-payment requirements.

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Three key questions about Canada’s new mortgage insurance rules

The Globe and Mail - 2014-04-14

Canada’s housing watchdog released a set of long-awaited guidelines for the country’s three mortgage insurers on Monday.

The new guidelines spell out the practices that the Office of the Superintendent of Financial Institutions wants to see from the country’s three mortgage insurers, Canada Mortgage and Housing Corp., Genworth MI Canada and Canada Guaranty.

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If you want to have a mortgage in retirement, be prepared to make some big sacrifices

Financial Post - 2014-04-05

Maybe we shouldn’t be all that surprised that mortgages based on a 25-year payment schedule are now part of our retirement picture.

It could be worse. Amortizations were as high as 40 years before former finance minister Jim Flaherty limited the length of loans with government-backed mortgage insurance. But even at 25 years, that means holding debt in retirement if you take on a new mortgage passed age 40 which is increasingly common in Canada.

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