Greenspoon Consulting

There’s a wide array of requirements that need to be met in order to secure the best possible mortgage rate. By foreseeing obstacles that may prevent you from getting the best mortgage rate you can prepare to win! traceygreenspoon.ca

Going in Without Conditions on you purchase in a Hot Market? Many Canadians are under the assumption their mortgage is as good as done once they have a mortgage pre-approval. A pre-approval is not a guarantee of a mortgage rather it is simply the mortgage lender’s view that if all the info you provided checks out, then you are approved up to a certain spending limit.... The property you choose still has to be factored in. If you overpay, the lender will not finance your mistake. They will finance the true value of the home. This can mean having to come up with tens of thousands of dollars at the last minute to close the purchase. -(info Canadian Mortgage Trends). In cases like this, where the financing falls through and the purchaser backs out of the sale, the seller can get to keep any deposit already given by the purchaser. Furthermore, the seller could choose to sue for damages. And normally the house goes back on the market. Buying a home is one of the biggest assets and most expensive decision you will ever make. Working with a professional team of experts is key to avoiding unnecessary problems you will face when you rush to make an offer on a purely emotional basis. Easing your load during this fast paced environment is key to Real Estate success!

PAYMENT CALCULATOR We At Real Mortgage Associates Know That In Today's World Every Dollar Counts. That's Why Our Calculators Are Built To Easily Show You What Your Payments Will Be: https://www.rmabroker.ca/calculators/payment

This gorgeous Barrie home is now SOLD! Didn’t last long, sold in 4 hours! Listed at: $719,990 17 Battalion Dr. 4 beds ... 2.1 baths 2,987 sqft . . . Listed by: Tracey Greenspoon 705 503 6558 [email protected] revelrealty.ca . . . #revel #revelrealty #revelution #realestate #barrie #barrierealestate #home #barrierealtor See more

WE’RE EXPANDING TO... BARRIE! . . . .... Revel is excited to announce the opening of our virtual Barrie office. With this thrilling news we are pleased to welcome to the team, Head-Coach - Tracey Greenspoon and Sales Representative - Stephanie McRae to the Revel Team! We are beyond thrilled to watch these ladies REVELutionize Real Estate in Barrie, ON. . . . #revel #revelrealty #revelbarrie #revelution #expanding #realestate #realtorlife #realtorsofinstagram #jointherevelution #realestateagent #realtorsofontario See more

What is a Monoline Lender? Monoline Lenders only operate in the mortgage space. They do not offer chequing or savings accounts, nor do they offer investments through RRSPs, GICs, or Tax-Free Savings Accounts. They are called Monoline because they have one line of business- mortgages. This also plays into the reasons you never see their name or locations anywhere. There is no need for them to market on bus stop benches or billboards as they are only accessible through mortgag...e brokers, making their need to market to you unnecessary. The branch locations are also unnecessary because you do not have day-to-day banking, savings accounts, investment accounts, or credit cards through them. All your banking stays the exact same, with the only difference of a pre-authorized payments coming from your account for the monthly mortgage payment. Any questions or concerns, they have a phone number and communicate documents through e-mail. Monoline Lenders also have some of the lowest interest rates on the market, the most attractive pre-payment privileges, and the lowest pre-payment penalties, especially when compared to a bigger banks If you don’t think these points are important, ask someone whose had a mortgage with one of these bigger banks and sold their property before their term was up and paid upwards of $12,000 in penalty fees. An equivalent amount with a Monoline Lender would be anywhere from $2,000-$4,000 in fees. (info DLC)

Did you know that 6 out of 10 consumers break their mortgage 38 months into a 5-year term? That means that 60% of consumers break a 5-year term mortgage well before it’s due.

Update on Rates: Rates have jumped about 4 basis points higher on today’s data but Government bond yields in Canada continue to be relatively range bound. 5 year GoC’s are around 2.06% and have traded between 2.00% and 2.10% the last five weeks. 10 year GoC’s are around 2.15% and have traded between 2.10% and 2.20% over the same horizon. Yesyou read that right. There are less than 10 basis points between the 5 and 10 year benchmarks. In fact, there are only 20 basis poi...nts between the 2 year (1.95%) and the 30 year (2.15%) bond. It’s a flat curve all right. Flattest it’s been in a decade. I don’t want to alarm you, but your first year Economics text book will tell you that a flat yield curve is an indication that investors and traders are worried about the macro-economic outlook. A less pessimistic argument is that it’s only natural when a central bank is raising short-term interest rates. Whatever the reason, if you’re getting a glass half empty feeling, just add vodka and stir. Speaking of central banks, following the July 11th rate hike, the next BoC meeting is September 5th. The implied probability of another then hike is a modest 10%. No doubt lingering uncertainty with respect to NAFTA, auto tariffs and broader trade drama are creating headwinds. Despite the small pop in rates this morning, the market won’t lean too heavily on the modestly stronger than expected retail sales and CPI data today. Info FN

The Time is Now, Time is Money. With low rates and good lenders you should consider refinancing. CALL today.