Warren Thody
17 York St. N6A 1A3 London, ON, Canada

What’s your best rate? Before the recent wave of government interventions this used to be a fairly straightforward questionit’s a very different story these days. Take a peek at this list of 20 questions that now must be considered in order to find your best rate. If you find yourself overwhelmed, message me or give me a call. I can help.

Wow...look at this comparison between January 2016 and January 2017 in our local market.

Whats your best rate? Before the recent wave of government interventions this used to be a fairly straightforward questionits a very different story these days. Take a peek at this list of 20 questions that now must be considered in order to find your best rate. If you find yourself overwhelmed, message me or give me a call. I can help.

While this particular article deals with supply issues in Toronto, here in London I am constantly hearing from Realtors and buyers alike that there is "nothing out there". Perhaps government regulations that attack housing affordability from the demand side of the equation are misguided and we would all be better served by instead easing the constraints on supply.

Despite a statistically insignificant default rate, CMHC has somehow rationalized raising their premiums. Arrears sit at 0.28% for Banks and 0.11% for Mortgage Finance Companies (often used by Mortgage Brokers). Keeping in mind that many defaults do not even result in a financial loss to CMHC, this appears to be little more than another cash grab by our government.

The Canadian federal government has recently made changes to mortgage rules that could mean increased costs, decreased housing activity, as well as less competition and choice in the housing market. CLICK LINK below to have your say on the issue. Your voice matters, and will make all the difference.

Thankfully, this isn't a serious concern in London. I really do feel for young buyers in Vancouver and Toronto though. It must seem like mission impossible sometimes...

Will other lenders follow suit or did TD misread the market?

Currently looking to purchase a home? Strict new mortgage rules are coming October 17. For many buyers this means the amount they qualify for will drop close to 24%. Those looking to refinance or consolidate debt will also be affected by these changes. Anyone considering making a mortgage move should reach out soon. Contact me directly to find out more. 519-701-2904... [email protected] See more

This is cool...do you want to know your credit score...for free...and in about 2 minutes? All without counting as a "hit" or hurting your score. Check out this free service.

Ontario and BC economies poised to do comparatively well over the next couple years.

Did your home increase in value by $64,262 over the last 12 months? If you live in Toronto it probably did.

In Vancouver it takes the average buyer 23 years to save up for a 20% down payment...yikes!

Thankfully, this isnt a serious concern in London. I really do feel for young buyers in Vancouver and Toronto though. It must seem like mission impossible sometimes...

Some HUGE changes coming to our energy market in Ontario. Phasing out natural gas heating? Being forced to use electric heat while having the highest electricity costs in North America doesnt really sound like a great combo...

When are you allowed to claim tax deductions for moving expenses?

A great list of things NOT to do before you close on your new home.

I would have to agree with this! :)

New Trend? Would you buy and live with family or friends over the long term?

Looks like someone finally snapped over broken reno promises...

Wait...so a property in Toronto sold UNDER asking price? Strange...

Yikes...its scary just how easily your credit can be damaged.

Lets hope the banks share...

Good news for those holding a variable rate mortgage right now!

Big debate about rates as of late. What are your thoughts? Up, down, or relatively unchanged?

Fixed rate mortgages with the bank all contain this VERY expensive trap. Why gamble when you can get better rates and service with a broker/agent and not have to worry about having a several thousand dollar surprise on the back end?

How would rising interest rates affect you?

With weather like this, our minds often drift to vacation getaways. Here are some tips to help you save and maximize your vacation dollars.

Its about time the government started cracking down on these places. The amount of interest you end up paying on this type of borrowing once you factor in fees is nothing short of criminal.

Its scary how commonplace errors on your credit bureau can be. This article shares a horror story but also shows you steps you can take to correct mistakes.

Relevant info for this time of year. I strongly agree with some of the ideas but am uncertain about others. Im always wary of advice that is heavily based on market timing.

Interesting article on how demographics can affect housing prices.

Do you really want the lowest rate?

Hi guys! Quick update on fixed mortgage rates for those of you who are interested. 10yr - 3.89% 5 yr - 3.09% 4 yr - 2.99%... 3 yr - 2.69% I have unique strategies mapped out for each of these terms that can be further customized to meet your personal needs. :-) Warren

If youre considering buying a new home or refinancing/renewing your current mortgage, it would be a wise move to act before July 9th! The Federal Government announced this morning four new clampdowns on insured mortgages that will quickly come into effect on Monday, July 9th, 2012. These changes include: ... Reducing the maximum amortization period to 25 years from 30 years Reducing the maximum amount of equity homeowners can take out of their homes when refinancing to 80% from the current 85% Limiting the availability of government-backed mortgages to homes with a purchase price of less than $1 million Fixing the maximum gross debt service ratio at 39% and the maximum total debt service ratio at 44% The first two changes will have the biggest impact on Canadian borrowers. If youd like to review your options or if you have any questions, please give me a call or send me an email, and Ill be happy to discuss how these changes may affect your mortgage situation. Its my job to ensure you have the best options and strategies available at all times!!

Does the idea of a 10 yr mortgage scare you?

Here is a great article on why you should pay down your debt NOW! On the mortgage side of things I have some great strategies to help protect you against rising interest rates and future payment shock. Contact me for free advice.

Check out this cool new home buyers program. Buyers can get a rebate for up to $2000 simply by buying. If youre in the market you should definitely check it out.