The Mortgage Market in Canada: Where Have the Variable Rate Mortgages Gone?

PART 1 of the Rev N You with Real Estate Series on the Mortgage Market in Canada

October 20th, 2008: 6 minutes 32 seconds

The October 15, 2008 removal of insured 40 year amortization mortgages and no money down deals was announced months ago. So it came as no surprise that those deals were pulled off of the table as the market uncertainty mounted.  But, a variable rate mortgage at prime PLUS 1.5%? That was a market change that nobody expected. And, as Cindy Faulkner of Meridian Coastal Mortgages explains, it happened overnight!

Listen as Dave Peniuk (of Rev N You) discusses the current mortgage market in Canada with Cindy, and find out what mortgage Cindy recommends you get in right now if you're an investor or someone buying your family home.

Thanks for stopping by and getting the facts on what is happening in the market today! This is the first in a series of five podcasts on the mortgage market in Canada. The next four are posted here. And if you haven't already... please sign up for our Rev N You with Real Estate newsletter to be certain you don't miss any of the important market updates!

ABOUT CINDY FAULKNER

Cindy Faulkner owns and runs Meridian Coastal Mortgages. An active real estate investor, with 17 years of experience in the residential real estate market, Cindy and her team are our first call when it comes to financing for our properties. They are always happy to chat about scenarios or discuss the market, so give them a call at 604-588-4466.

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