Mortgage Intelligence Blog Feed

Up Up and Away

Mon, 17 Jun 2013 5:02:34 PM EST

Thanks to all for your continued support. I was just notified that i won a sales achievement award for May.

Rally Rally Rally

Fri, 3 May 2013 10:19:39 AM EST

Rallly Rally Rally, The S&P broke through 16000 and the DOW about 15000. This is a very good sign for the psychology of the overall economy. Interest rates will be going up very soon. Dont get caught short. Money will be leaving the bond market and going into stocks which means rates will climb. If you know someone who is looking to buy a house/move or maybe renew a mortgage have them give us a call today. Stay a step ahead! The cost of Real Estate will be viewed as cheap in five years.

Interest Rate War

Tue, 2 Apr 2013 8:29:02 AM EST

Much thanks are to given to The Bank of Montreal who recently advertised a low rate mortgage. LOL. Their low rate mortgage should be renamed. My mortgage offer is .20% lower than theirs with no restrictions and better terms and conditions. Over the life of the mortgage that represents a lot of savings, Enough to buy a new car with Cash! Thanks again BMO for sending more customers our way! As always the lowest rates and the best products is the priority of our customers.

Those funny banks

Sun, 3 Mar 2013 9:20:15 PM EST

There was funny article today about the red white and blue bank starting a rate war with their new 2.99% five year fixed rate mortgage. lol The devil is in the details as always, besides why would ever consider going over to the dark side. Your friendly neighborhood mortgage agent can offer you a lower rate with no gimmicks, and combined with in home service that works to your schedule not the banks! Now, about that rate war again, would you prefer 2.84%. Thats big money.

Break that Mortgage Now!

Mon, 18 Feb 2013 5:24:31 PM EST

There has never ever been a better time to break your mortgage and this incredible oppurtunity may never happen again.

IIf your interested in making money and moving forward in your life its time to invest in your future starting today.

Incredible Interest Rate Savings

Mon, 4 Feb 2013 8:17:46 PM EST

Jack be nimble Jill be quick.

Thats right, move quick and lock in a 5 yr fixed rate mortgage at 2.89% Online Applications Only!

No Easy Way Out?

Tue, 15 Jan 2013 8:11:03 AM EST

Consumer Proposals, too many times do i see a file where a customer has entered into a consumer proposal. Many of those times, people are wrongly advised to seek this path as a solution to resolving debt issues. Never, ever, should a consumer proposal or bankruptcy be considered without a full review done by a experienced mortgage proffessional. A consumer proposal is viewed exactly the same as a bankruptcy by mortgage lenders, and should never been considered away out of your debt worries.

Rate Commentary

Thu, 10 Jan 2013 9:09:52 AM EST

Welcome to 2013!

Rate Commentary

Interest rates have increased slightly and are poised to move up again in the short term. Current rates are close to being out of the bank profitability range,so its pretty certain that we will see slight increases soon.

Variable rate customers are strongly advised to call me to discuss their various options to see if there is a benefit to moving to a new product or fixed rate.

If you know someone who is shopping for a new mortgage, looking to buy, or maybe a free checkup, have them call or apply online. Its quick and easy. We can lock in a rate for up to 120 days!

Best regards,

Kenzie

Put yourself in the drivers seat in 2013!

Sat, 5 Jan 2013 10:18:13 PM EST

Whatever you objectives we are here to serve you better. We put our clients in the drivers seat. Allowing them to gain the wisdom from year of experience with mortgage lending. Its is our sole objective to save you more, give you greater flexibility and put you ahead of the pack. Call today, and start on the path to greater success. www.macdermidgroup.com/index.php/why_a_broker

Happy New Year!

Tue, 1 Jan 2013 12:25:40 PM EST

Here's wishing you all a healty, safe, and prosperous new year. Realize your dreams and strive to be better by finding new ways to connect with people who can make it happen!

Pay it forward!

Sat, 22 Dec 2012 9:02:42 AM EST

To all celebrating the Christmas Holidays,
Enjoy, and take time to share the spirit of Christmas and the holiday season.
Open up and share some light into each and everyone's day.
All is forgotten, All can come true, It`s about not what has been done, but what you can do!
So, should you see someone who looks lonely or showing despair, reach out and touch them, giving the support that we all need. You will be then blessed with the greatest gift one can receive.
All that is valued is truly from what comes for free, your fortune is awaiting, now go out, enjoy and make it happen.

Have a Merry Christmas and Happy New Year! and as always ….be safe.

Readers Choice Award Winner in 2011 & 2012!
Best Mortgage Agent

1-888-702-1766

Santa Mortgage Coming to You!

Tue, 4 Dec 2012 9:03:25 AM EST

Ho Ho Ho! Santa has some special treats for those who close a new mortgage with Kenzie before Dec 20th

Self Employed With BAD CREDIT! No Problem

Thu, 22 Nov 2012 2:39:58 PM EST

Mortgage Intelligence offers incredible refinancing options for Self Employmed customers with bad or bruised credit. No other lenders or mortgage agents can offer an interest rate that comes close. Refinance prior to the holidays an maximize your savings today!

Government employee discounts

Fri, 9 Nov 2012 10:16:10 AM EST

Interest rate product special for Ontario government employees

Did you know that I have a special product for government employees. Its the best 5 year fixed rate mortgage product available in the market. This special, exclusive to my customers provides government employees with incredible terms and conditions combined with a superior interest rate.

https://twitter.com/kmacdermid39

Referral business grows exponentially

Sat, 13 Oct 2012 11:07:14 AM EST

The referral business has been kicking into overtime lately. Thanks to all my Peeps! I cant express how thankful i am to have such great clients. As always you'll continue to get my best.

The keys to your success

Tue, 9 Oct 2012 9:23:04 AM EST

Mortgage agents hold the keys to your success. Discover why 48% of new home buyers work with a mortgage agent like myself. Why work with just one bank when you can have access to over 30. Better products, better rates, better service. Its time you moved with the future of mortgage lending.

Mortgage agents are the key to you success, before, during and after.

Say NO to the Break Fee, Say NO to the bank

Tue, 2 Oct 2012 6:05:01 PM EST

Call me today for my methods in eliminating your mortgage break fee. There has never been a better time to refinance your mortgage. By working with Kenzie MacDermid of Mortgage Intelligence you will optimize a proven financial strategy that will save you tens of thousands of dollars!

Say NO to the break fee, Say no to the bank

Homebuyer 101

Wed, 12 Sep 2012 10:02:44 PM EST

As much as it is nerve-racking, buying that first home is equally exciting. A home is, without a doubt, the largest purchase most people will make in their lifetime and to become a new homeowner takes a lot of research, especially information on mortgages.

Let’s take a look at some basic information. When shopping for a first mortgage there inevitably will be some unfamiliar terminology. First things first, there is a mortgage term. A mortgage term is the length of time a person commits to the lender to make their payments. The length of time chosen ultimately determines what the interest rate will be. A mortgage term can be as little as six months or as long as five years. When the mortgage term comes to an end this means it is up for renewal and the new mortgage is based on the remaining principle.

Mortgage Amortization

The length of time it takes to pay off the entire mortgage is called the mortgage amortization. The longer the amortization period the less the monthly mortgage payment ends up being and this sure does sound somewhat appealing. There is one drawback to this, over time more interest will ultimately be paid than necessary. Amortizations can be up to 25 years.

Variable Mortgages or Fixed Rate Mortgages

While there may be some confusion for the first time buyer it is all part of the learning process. A variable mortgage will often fluctuate and as the market interest rate (Prime rate) fluctuates, so does the mortgage payment. There is enough information out there that shows that variable rates prove to be less costly in the long term. If there is any financial uncertainty in the market then a variable mortgage could prove to be a risky choice.

A fixed rate is a mortgage rate that provides the security of having a regular payment that does not alter for the duration of the mortgage loan.

There is so much more information that can be best explained when speaking directly to a Milton mortgage expert. Mortgage Intelligence can help you learn all the ins and outs of a first mortgage in terms you can understand. They can be reached via email at all@macdermidgroup.com or by calling toll free 1-888-702-1766. You can also visit Mortgage Intelligence online to learn more.

Stimulus

Sat, 1 Sep 2012 9:40:54 AM EST

Governments around the world continue to eye more financial stimulus to keep sputtering economies afloat. All this "Free" money will come to and end at some point when investors start demmanding higher intrerest rates from their bond holdings. For the time being real estate is seen as the only safe bet for long term sustain growth of capital. Housing remains the lowest cost investment oppurtunity with the highest security. After all, everyone has to live somewhere, whether as a renter or owner.

Zero the Hero

Wed, 29 Aug 2012 5:52:45 PM EST

Zero down mortgages are coming to an end as of September 15Th 2012. Having problems saving that down payment. No problem if you make that purchase prior to 15th. Those who hesitate shall remain renters for a very long time as 5% is a lot of money to save.

Go out and start paying off a property today. Why line other peoples pockets with you rental money. Buy now and start investing in your future!

What a great oppurtunity for first time home buyers!

Work with Kenzie your award winning Mortgage Agent hero

Interest rising, stocks rising. Its refinance and Investment property time

Mon, 27 Aug 2012 1:01:09 PM EST

Dont wait for the genie to pop out of the bag. Make it happen for yourself. Rental properties are where its going to be for investors over the next few years. Fewer and fewer people can afford to buy. Which only mean more and more renters will be available for you to select.

Lock in a low rate on an investment property and get paid to wait for the next big run up in real estate values.

Eliminate the break fee

Thu, 28 Jun 2012 6:46:21 AM EST

Concerned about breaking your mortgage? No problem, how about taking out a little extra when you refinance your home? You could wisely put that money to work by investing in your RRSP. That way your investing in your future, lowering your interest rate, and elimating your cost to refinace you mortgage!

Call me today to find out how!

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Proudly Serving the Greater Toronto Area (GTA) including Toronto, Mississauga, Brampton, Georgetown, Vaughn, Markham, Oakville, Burlington, Milton, Acton, Halton Hills, Hamilton and surrounding areas.

Contact us today if you are looking for a first mortgage or second mortgage, renewing your mortgage, refinancing your mortgage, are Self-Employed and need mortgage financing, thinking of investment property, need credit repair or need to access equity in your home.

We offer you a quick mortgage quote with easy pre-approval options.

Readers Choice Award Winner!

Mon, 25 Jun 2012 10:32:27 AM EST

Discover why I have won the Readers Choice Award for 2011/2012. Working with me you will soon discover how i put my customers first. 95% of my customers renew their mortgage with me or pay it off! Thats a powerfull statement to make with so many choices in todays market. The goal is simple, and that is to empower my customers towards long term financial success, particularly when it comes to important decisions such as mortgage financing.

Call today to get the power of Kenzie MacDermid and Mortgage Intelligence working for You!

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We offer you a quick mortgage app with easy pre-approval options.

Silly Rabbit! Tricks are for kids

Wed, 20 Jun 2012 9:18:58 AM EST

How to make 6,000 in one hour! Good morning all. Case study on one of my existing clients. The customer had four years left on a five year fixed rate mortgage. His balance was $255,000. He saved 6,000 by have me break his mortgage! Not bad for an hour of his time! He will save even more in that extra fifth year when rates are much much higher. Only through you neighborhood Mortgage Specialist.....Me!
Silly are those who ponder the costs or breaking a mortgage, wise are those who are realizing the savings.

As a Mortgage Agent Kenzie MacDermid and The MacDermid Group serves the Georgetown, Milton, Acton, Mississauga, Brampton, Oakville, and surrounding areas by providing great mortgage rates for those First Time Home Buyers, mortgage renewals or refinancing, and anyone considering debt consolidation through home refinance.

We offer you a quick mortgage app with easy pre-approval options.

One house, two house, three house, four!

Tue, 5 Jun 2012 4:22:21 PM EST

What do the wealthy and smart money people in the United States and Canada know that the common person doesnt. Why do other people succeed where others fail. The answer is simple. They buy what every one else is selling, and make money from it using other peoples money to do it. Who is the largest land owner in the world? How do they payoff their properties?

To unlock the knowledge and start growing your financial portfolio by calling Kenzie MacDermid of Mortgage Intelligence! 1-888-702-1766

We offer you a quick mortgage app with easy pre-approval options.

Real Estate Market On Fire In Halton Hills aka Georgetown

Wed, 18 Apr 2012 1:11:32 PM EST

The real estate market in Halton Hills aka Georgetown is on fire. Bidding wars on anything under 500,000 is now the normal. Fully qualified purchasers are walking in firm and lifting a requirement for inspections while still paying over list. Real estate agents are pricing the homes at fair market value, but buyers dont want to risk losing out so, they are willing to pay a small premium to secure the property!

Its all about the supply and demmand in the Greater Toronto Area. Call the readers choice award winning Mortgage Broker to get the best advice on your next home purchase or refinance

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We offer you a quick mortgage app with easy pre-approval options.

Refinance

Thu, 29 Mar 2012 4:47:21 PM EST

Refers to the replacement of an existing debt obligation with a debt obligation under different terms. The most common consumer refinancing is for a home mortgage.

If the replacement of debt occurs under financial distress, it is also referred to as debt restructuring.

A loan (debt) can be refinanced for various reasons:

1.) to take advantage of a better interest rate (which will result in either a reduced monthly payment or a reduced term);
2.) to consolidate other debt(s) into one loan(this will result in a longer term);
3.) to reduce the monthly repayment amount (this will result in a longer term)
4.) to reduce or alter risk (e.g. changing from a variable-rate to a fixed-rate loan)
5.) to free up cash (this will result in a longer term).

Breaking your mortgage contract to renew at a new rate and a new term, may include a prepayment charge to reimburse your financial institution for the lost interest income. As a rule, the prepayment charge is based on three months interest or the interest rate differential (the difference between your current mortgage rate for the balance of your term and the new rate you want to refinance at), whichever is greater.

This amount will tell you if you should refinance the mortgage. The shorter the remaining term - less than a year is best - the smaller the penalty. The longer the term left on your mortgage, the greater the prepayment penalties. I am able to calculate your information to determine if you should break your mortgage and take advantage of current lower rates.

Mortgages insured by the Canadian Mortgage and Housing Corporation, has a maximum penalty of three months interest after the third anniversary date of the interest adjustment period, or after the third anniversary date from your most recent renewal.

Home Equity Line of Credit

Thu, 29 Mar 2012 4:46:13 PM EST

A personal line of credit secured against the borrower's property. Generally, up to 75% of the purchase price or appraised value of the property is allowed to be borrowed with this product.

Inflation and Taxes rising in Ontario

Fri, 17 Feb 2012 8:35:37 AM EST

Get ready to pay more and more and more, and get less.
The financial disaster that the Ontario Government has created in the last ten years is going to start costing us all dearly. Look for higher taxes, higher hydro rates, and cutbacks to our education and healthcare services. That at the same time fuel costs and groceries continue to rise. Refinance and lower your mortgage costs NOW! while you have the chance to get these incredible low five year fixed rates. If you dont go long term you will be kicking yourself later

Inflation and taxes are not what the economy needs right now.

Economists undecided makes for a balanced market

Tue, 14 Feb 2012 2:39:20 PM EST

Rates remains steady today as economists continue to debate whether Canadian consumers are taking on too much debt. Some argue that the debt to income levels are reaching new highs over 150% and that should be a warning.

Others point out that 150% may have been high when interest rates were over 6% but at today's rates that level is very affordable and should not be cause for such hand wringing.

The truth is probably somewhere in between. And in the meantime for some consumers, as long as they can borrow enough to make their payments they will have not trouble with debt levels and will continue to support the economy with rising consumption.

The current five year fixed rate mortgage remains at 3.09 for mortgages closing with 60 days. This rate special is not going to last long as most lenders are up to 3.39%.

When to break that mortgage

Fri, 27 Jan 2012 9:28:28 AM EST

Many people get too hung up on what the break fee is going to be for there existing mortgage. This is a common mistake.

They shouldnt be. The interest owed on a mortgage is the interest owed, there is no way around it.

Whats really important to know when you are refinancing a mortgage is how much less you will be paying on the new mortgage and is the new mortgage going to be used to consolidate some higher interest debt and improve your daily living expenses.

Most important is how much of the principle balance is remaing at the end of the term before and after, for all debts, and can some of the monthly saving be used to pay down the principal or invest is some tax saving RRSPs.

A penny saved is a penny earned.

Increase in Bond rates indicate mortgage rates are on the rise

Tue, 24 Jan 2012 5:32:16 PM EST

Its time to lock in your rate, and get pre approved if you are in the market to refinace or purchase within the next 120 day.

Rates are going to go up, up, up.

Reader Choice Award Winner!

Sat, 21 Jan 2012 7:46:29 PM EST

Yahoo! or Google! Hey, thank you very much to those who recently voted for me. Proud to announce that i have won this award for two years in a row! My customers are my business and the long term finacial success is my interest.

Thank you so much

Kenzie MacDermid, your friendly neighborhood mortgage specialist.

Interest Rate Commentary

Thu, 12 Jan 2012 10:10:02 AM EST

Low and stable bond yields have some lenders reducing mortgage rates on the 3-5 year terms. They are getting fairly attractive relative to the variables since the discounting from prime has virtually disappeared.

In Europe the European Central Bank rate remained unchanged at 1% today. They have long since stopped talking about rate increases as the European economies continue to struggle with heavy debt loads.

Housing Statistics Hi Rise Condominium

Wed, 11 Jan 2012 10:28:54 AM EST

While the Canadian housing market remains strong some bankers have expressed worries that certain segments of the market (condos in Vancouver and Toronto specifically) look like they are due for a correction in the next year. There have been similar predictions in the past that did not materialize so time will tell if these ones comes to pass. The negative news stories generated by those predictions may themselves cool enthusiasm for the markets in question.

Employment Canada & The U.S. of A.

Mon, 9 Jan 2012 7:57:25 AM EST

While the US unemployment rate fell in December the Canadian rate edged up to 7.5%. That is still lower than the US rate of 8.5% but the US trend is improving while ours appears to have been slipping towards the end of 2011.

The good news is that 17,500 net new jobs were created in Canada in December which reverses a two month slide in job creation. But the bad news is full time jobs continued to decline and the increase was made up in part time work instead which is not as good for the economy as full time.

However the stronger trend in the US should help Canada in 2012 as a growing US economy tends to pull our Canadian economy along with it.

Job Growth Numbers

Fri, 6 Jan 2012 2:39:03 PM EST

The US economy added over 200,000 jobs in December and their unemployment rate dropped to 8.5%, the lowest level in almost 3 years. This is better than most economists had expected but investor attention is still focused on Europe where the Euro is declining in value and the economy is slowing as governments trim spending. Still, the US data is probably more important to the Canadian economy as they are our largest trading partner so we'll call it a good news day today.

mortgage interest rate commentary

Thu, 5 Jan 2012 1:43:53 PM EST

Stronger US employment numbers for December have not been enough good news to pull investor focus away from the debt crisis in Europe this morning.

The benchmark French government bond yields crept up above 3% at auction today. While nowhere near the levels of Spain and Italy the increase is worrying to investors because that is how other countries began to go off the rails in the early stages of their crisis. France is a major economy who has been counted on to help bail out other European countries. If France falls into the same rising interest rate debt spiral as others the Euro zone problems look a lot worse for 2012.

Interest rates that once would have been acceptable at 5-6% are now devastating to heavily indebted countries who cannot afford interest rates much above 3%. So perhaps the message to others who are not in trouble yet is use these low interest rates to reduce total debt, not to pile on more debt. Mortgage rate commentary

Condo Market Pricing Stability Anticipated

Wed, 4 Jan 2012 11:24:17 AM EST

The Baby Boomers continue to change the world! By 2036 one quarter of the population will be senior citizens, the real estate market will be changing significully as a result.

The demmand for senior support services and condos is and will grow and remain strong as more and more people from this demographic begin to retire. At a time when demmand for current housing is high, and interest rates remain at historic lows we can anticipate further increases in prices and demmand for rental as a result.

Currently sixty eight percent of Canadians own their home, with 42% of the being mortgage free.

Now break fee when you RRSP!

Tue, 3 Jan 2012 1:15:34 PM EST

Why not contribute to your RRSP when you refinance! It pays to invest. You can greatly or eliminate any discharge fee by contributing to your RRSP. Now is a great time to save on you mortgage and invest in your future!

Investment Properties

Thu, 29 Dec 2011 12:01:32 PM EST

Investment property purchases are anticpated to be strong in 2012. With record low interest mortgage rates and soaring rental costs the demmand for additional rental properties is increasing. Record low interest rates are allowing potential real estate investors to capitalize on the growing demmand for rental properties. Call us today if you are considering an investment property.

mqr - Mortgage Qualifying Rate

Wed, 28 Dec 2011 9:51:35 AM EST

Mortgage Qualifying Rate

Any mortgage that is valued at 80% or higher must be typically insured against default of payment.

The insurance companies use a mqr rate to qualify affordability. The posted five year fixed rate is used to qualify both variable rates and fixed rates with a term less than five years.

for example. A three year rate of 3% must be qualified at a rate at todays mqr rate of 5.29%.

TD proposes reducing mortgage amortization period to 25 years

Sat, 17 Dec 2011 10:20:34 AM EST

TD proposes that the banking industry make it more difficult for first time home buyers to qualify.

The net effect of this proposed change will force more of Canada's home grown population into the trap of perpetual renting.

Most existing Canadian new home buyers need two incomes to afford a new purchase, and now we want to make it even more restrictive so that only the rich can afford homes. Give me a break.