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Ottawa Mortgage Broker - Dan Faubert
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Ask the Mortgage Guy!
Ask the Mortgage Guy!

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I found this web site on the weekend. What an interesting life they are living. Other than the ups and downs caused by health, there is certainly a draw to what they are doing. But what a leap of faith it must take to sell it all and live for today while seeing the world. https://www.hecktictravels.co Anyhow I have started reading the blog and snooping around their site, who knows what ideas will come my way.
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I may be a city boy art heart, but I would have a problem with living 80 stories up in the sky! And yet for them to build this, people must be wanting to live there. Who are you people? :)
I guess that's why we are individuals.
http://bit.ly/85StoriesUp

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Maybe another reason to leave mortgage rates alone for awhile...the Canadian Dollar. http://bit.ly/risingCdnDollar
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So another increase in the Bank of Canada Rate this morning... up by another .25%.
http://bit.ly/AnotherHikeBofC
Hopefully that's it for awhile. This will immediately affect secured and unsecured Lines of Credits and variable rate mortgages.
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Everyone should read this article(from CBC), even if they only have a dollar invested!
http://bit.ly/IFeelDuped
Read the article right to the bottom, who would have thought what a difference a "vowel" can make in a title.
I'm not saying you should run from the system and invest blindly on your own through a self directed plan. But this article should open your eyes and make you ask more questions of those you TRUST blindly with your money.
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For those of you with a million bucks burning a hole in your pocket, and a few insecurities, here is the vehicle for you :)
http://bit.ly/1OaPDEU
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An interesting article on the history of CMHC(Canada Mortgage and Housing Corp).
http://bit.ly/1GG7QSE
For complete Mortgage rates and terms go to www.mortgagemoney.ca
Dan :)
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An interesting article that reminds us of the fact that we are at historical low rates today, both variable and fixed. Keep that in mind when making your next decision of what term to take.
http://bit.ly/1Liynuy
For complete mortgage rates and terms go to www.mortgagemoney.ca
Dan :) 613-222-2624
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An interesting article to remind us that not all mortgage penalties are created equally. Let it be know that all lenders that show high "posted" rates on their web sights- ie 5 yr fixed of 4.64% will have Interest rate differential penalties that are significantly higher than lenders that post more realistic rates- ie posted 5 yr fixed rate of 2.64%. All of the major banks use this practice, show high 5 year fixed rates, offer you a discount, and then if you ever have to break the mortgage early, WATCH OUT.

As a mortgage broker, I try to use those lenders that post the lower rates, and also offer great discounted rates. Minimizing the penalty if a mortgage has to be broken during term. Usually it is the trust companies and credit unions that have the lower penalties. This is just one of the many reasons to use a mortgage broker that is aware of MORE than JUST THE RATE.
http://on.thestar.com/1NWZMmB
For complete mortgage info, rates and terms, visit me at www.mortgagemoney.ca
If you have been hit with a large bank mortgage penalty, let others know. Real life examples are what open peoples eyes.
Dan :)
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If you were thinking to save the 20% down payment, to avoid a mortgage insurance premium, before buying a home, you might want to think again.
http://bit.ly/1KzMyK2
This article is current with the expectation of possibly smaller annual increases in value than in the past. Which I think is realistic.
I can tell you, if over the last 10 years you have waited, then you have already missed some large increases in property values in the city of Ottawa. The future though could play out differently with flatter value increases. Time will tell.
With purchasing the right real estate, I am a firm believer in owning the roof over your head. Housing is one thing you will always need, and even if you see flatter valuations in the future, at least you are having forced savings in the principle payback of the mortgage.
I see everyday in my business that people in general, are not great savers, and at least by owning your own home, you should always end up with a paid off house as a nest egg.
That is, as long as you don't refinance over the years to pay down debt. But that's another story in itself.
If you own a home, how has it worked out for you? Happy you bought, or wish you had rented?
For complete mortgage rates and terms go to www.mortgagemoney.ca
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