Agent Blogs

Jan 12
2012
How Much Can I Afford to Pay for a Home?
Blog posted by Kevin Harris  :  Views (833)  :  (0 comments)
To determine ‘affordability’ you will first need to know your taxable income along with the amount of any debt outstanding and the monthly payments. Assuming it is your principal residence you are purchasing, calculate 32% of your income for use toward a mortgage payment, property... [ more ]
Nov 29
2011
Fixed or Variable Which Way To Go
Blog posted by Kevin Harris  :  Views (1636)  :  (0 comments)
  How Do You Choose Which One is Better - Fixed or Variable? Posted on November 08, 2011 I thought we would do an overview of fixed versus variable rates, as this is a constant water cooler topic. As predicated, lenders have made significant changes to variable rate products. Most of the... [ more ]
May 5
2011

Hi Kevin, I am seeing the mortgage information for the property at 30 Greenfield stating that there is no money down required for an income of over $92k with a 30 yr term. How accurate is this? Thanks! Stephanie

Expert Question posted by Kevin Harris  :  Views (3950)  : 
Hey Stephanie, This program is offered through several lenders and is available and can be used to purchase this property.The ratios needed to qualify work on the calculation of the carrying costs for this property based on the 92k/yr (income maybe combined) and is accurate to... [ more ]
Apr 19
2011
Interest Rate Forcast
Blog posted by Kevin Harris  :  Views (10773)  :  (0 comments)
INTEREST RATE HIKE LIKELY   Chances are good we’ll see an interest rate hike from the Bank of Canada this summer, based on the latest inflation figures.  Higher food and fuel prices pushed the inflation rate to 3.3 per cent last month,  up from 2.2 per cent in... [ more ]
Apr 12
2011
Bank of Canada Holds Rates
Blog posted by Kevin Harris  :  Views (15574)  :  (0 comments)
BANK OF CANADA HOLDS INTEREST RATE AT 1%   The Bank of Canada has kept its trendsetting overnight interest rate at one per cent, but not because the economy is doing poorly. The bank says the economy is actually outperforming expectations, and now expects it will grow by 2.9 per cent... [ more ]
Apr 7
2011
Cash Back May Be King
Blog posted by Kevin Harris  :  Views (11994)  :  (0 comments)
  Cash Back May Be King!!   As mortgage rules have changed and are now in place as of March 18th consumers will feel the effects of these new changes quickly. Drawing the amortization in to a maximum 30 year term from the 35 year term it had been directly affects your mortgage... [ more ]
Mar 18
2011

As a young professional I am looking to buy my first home. With a gross annual income of $69,000 and total monthly debt obligations of $1000, what size of a mortgage should I realistically be looking at? Thank you very much for your time.

Expert Question posted by Kevin Harris  :  Views (3773)  : 
Thank you for your question.... with the recent changes to the mortgage industry in relation to the limiting of the Amortization period to 30 years I ran my calculations based on that and at today's low rates. With an income of 69K and the 1000/mo obligation you are showing you should be... [ more ]
Mar 1
2011
Bank of Canada looks at Prime Rate
Blog posted by Kevin Harris  :  Views (12496)  :  (0 comments)
  Release: BoC leaves overnight rate at 1.00% and preserves cautious tone   As expected, the Bank of Canada (BoC) left its target for the overnight interest rate unchanged at 1.00% for a fourth consecutive meeting since September 2010. In light of today’s BoC statement,... [ more ]
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