Lisa Tollis, Real Estate Salesperson
1122 Wilson Street West. Ancaster, ON L9G 3K9
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Interest rates

I’ve never seen more competition with mortgage rates in my 30-year career than I have in the first five months of 2019! Rates are under 3%! On May 10th, a … Continue Reading A Rate War on Canada Day?

6/28/2019 11:34:16 AM

Contrary to media reports about our ‘record personal debt levels’, it’s extremely prudent to ensure you have access to emergency money. The line of credit popularity that took place in … Continue Reading 50+ with little or no Mortgage? You Need a Line of Credit!

5/14/2019 1:52:21 PM

We’ve seen mortgage rates drop steadily over the past three months. At the beginning of this year, we saw fixed rates approaching 4%. And, today, we’re seeing them sit around … Continue Reading It’s war. Mortgage Rate Wars. You could win with Big Rate Cuts!

5/10/2019 2:18:34 PM

Before I get into the topic of new home financing, I want to share some positive news! The Ontario housing market is definitely alive and well! I’m seeing new properties … Continue Reading Finance Your New Construction Home at Prime Minus 0.80%!

5/9/2019 9:47:47 AM

With warmer weather comes a renewed energy and hope for the coming months. It’s also the official start of the Spring housing market. Are you considering buying a home? If … Continue Reading Top 3 Things Homebuyers Need to Know this Spring

5/7/2019 10:32:11 AM

This is probably the biggest positive mortgage lending change in 10 years. A major lender has just announced a new program for self-employed individuals! For the last several years, mortgage … Continue Reading BIG NEWS: Mortgage includes Self-Employed Business Income and Best Rates!

4/30/2019 7:43:42 AM

We’ve all heard the saying ‘necessary evil’ – something that we need or must have but don’t necessary like. It’s kind of like taking cough syrup that doesn’t taste so … Continue Reading Beware of Mortgage Insurance Double Charges!

4/5/2019 12:45:58 PM

Mortgage News Daily

Posted To: MBS Commentary

In the day just passed, bonds enjoyed one of their best rally days in recent weeks as the stock market endured its 2nd weakest day since May. Stocks weren't the exclusive motivation, but there's no way to pin down cause and effect without descending into conjecture. Leading suspects include a technical bounce at 2.15% (i.e. traders sold as much as they were willing to sell after the strong jobs number 2 weeks ago), a global supply chain warning from the IMF, and a now-tabled impeachment vote in the House yesterday evening. If we had to pick 2 , however, they'd be the stock sell-off and the technical bounce in bonds. In the day ahead, we'll consider a technical bounce on the other side of this week's range. Rather than make it down to the 2.02% or 1.975% levels that were...(read more)

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7/18/2019 6:48:07 AM

Posted To: Pipeline Press

There’s a lot going on out there! Rocket Mortgage is creating new technology that will allow the State Farm agents to offer a Rocket Mortgage loan as a licensed loan originator. Some accounting staff believe their prayers have been answered regarding CECL. The Financial Accounting Standards Board voted Wednesday to propose to delay some of its major accounting standards (including credit losses, leases, hedging and long-duration insurance contracts) for private companies, nonprofits, and small reporting companies. And in the courts, a ruling dealt a blow to efforts by HUD to restrict nonprofit housing funds from operating on a national scale. Chenoa is especially interested in Judge David Neffer (U.S. District Court, Utah) granting an injunction from the bench further delaying implementation...(read more)

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7/18/2019 6:46:56 AM

Posted To: MND NewsWire

Closing rates for mortgage loans were at the highest level in June since Ellie Mae began collecting the data in 2011. The company, in its June Origination Insight Report , said 76.8 percent of all loans closed , up from a rate of 75.6 percent the previous month. Closing rates on purchase loans hit 78.8 percent while the rate for refinances was 73.4 percent. Ellie Mae basis closing rates on applications submitted 90 days earlier, in this case in March. The rate for 30-year mortgages originated during June dropped to 4.40 percent from 4.52 percent in May, the sixth consecutive month that rates declined. The 30-year note rate for FHA loans decreased to 4.49 percent from 4.63 percent and the 30-year Conventional rate and VA rate each fell 11 basis points to 4.41 percent and 4.20 percent respectively...(read more)

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7/18/2019 6:37:55 AM

Posted To: MND NewsWire

There was a huge decline in foreign investment in U.S. real estate during the 12 months ending with the first quarter of 2019. The National Association of Realtors® (NAR) said the reduction was evident in both the purchases of resident (i.e. recent immigrants) and non-resident foreign buyers and explained the drop as the result of slowing global economics and low U.S. housing inventories. NAR's annual Profile of International Transactions in U.S. Residential Real Estate shows that international buyers bought $77.9 billion worth of U.S. existing homes between April 1, 2018 and March 31, 2019. This is a 36 percent decrease from the 2018 report's survey's $121 billion in spending. Non-resident foreign buyers accounted for $33.2 billion of U.S. existing-home sales, a 37 percent decline from...(read more)

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7/18/2019 6:24:17 AM

Posted To: Mortgage Rate Watch

Mortgage rates improved today, depending on the lender and the time of day! Underlying bond markets were only modestly stronger in the morning. As such, the average lender only offered modest improvements over yesterday's rates at first. But as the day progressed, market volatility favored bonds. Once bonds improved enough, many lenders ended up offering positive reprices. Even then, most lenders don't tend to drop rates enough to fully reflect friendly market movements such as today's. That means tomorrow's rates could be even better if the underlying bond market can merely manage to hold steady by tomorrow morning. Today's Most Prevalent Rates 30YR FIXED - 3.875% FHA/VA - 3.625% 15 YEAR FIXED - 3.5-3.625% 5 YEAR ARMS - 3.375-3.75% depending on the lender Ongoing Lock/Float Considerations...(read more)

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7/17/2019 3:27:00 PM

Posted To: MBS Commentary

What began as a rather unassuming summertime Wednesday quickly turned in to one of the biggest rally days in weeks for bonds. 10yr yields moved more than 6bps lower to end the day well under the important 2.06% technical level and Fannie 3.0 MBS gained a quarter of a point. Although there was economic data in play this morning (slightly weaker construction numbers), it certainly wasn't the driver of the move. In fact, looking beyond the headline actually showed improvements in single-family construction numbers. More importantly, bonds really didn't do much until after 10am. The same time frame corresponds to fairly brisk losses in the stock market. Bonds and stocks don't always follow each other. Many times, they move in opposite directions--especially when they're trading...(read more)

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7/17/2019 3:26:19 PM

Posted To: MND NewsWire

The residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 percent compared to the previous month. The U.S. Census Bureau and Department of Housing and Urban Development said permits for residential construction were at a seasonally adjusted annual rate of 1,220,000 compared to a revised 1,299,000 in May. May permits were originally reported at an annual rate of 1,295,000. The June number put the year-over-year results down by 6.6 percent. Analysts polled by Econoday had expected an annual pace of 1,300,000 for permits. Their forecasts ranged from 1,252,000 to 1,300,000, missing the actual results completely. Permits for single-family...(read more)

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7/17/2019 9:25:00 AM

Posted To: Pipeline Press

I encounter plenty of people in the mortgage biz, from part-time receptionists to owners, who are focused on helping consumers. It’s a good thing! And they ask me about consumer education. (“Have you ever heard of a class for anyone on home buying or the home loan process?”) One solution, and this is not a paid ad, is to invite them to set up a personalized (branded in your name, look/feel) financial locker through FinLocker , which currently houses over 140 consumer-facing videos and includes goal setting, budget planning and more. Shoot President Brian Vieaux an email to learn more. If it helps just one potential borrower or kid in school, or saves you from creating 140 videos, why not? Lender Products and Services “The Customer Experience is critical. Today, everyone...(read more)

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7/17/2019 8:04:17 AM

Posted To: MBS Commentary

In the day just passed, a strong Retail Sales report kept the pressure on bond markets to remain in the negative trend that prevailed last week. Yields have been moving progressively higher since the June 5th jobs report catalyzed a confirmed break of a narrow, consolidation pattern at multi-year yield lows. Ultimately, however, 2.15% remained intact as a firm ceiling for the 4th straight day and bonds were able to recover a majority of the morning's losses. In the day ahead, we'll see if traders have any inclination to build on that resilience. As seen in today's chart, modest strength early in the session brings yields right in line with the lower boundary of the current negative trend (the "bad vibes" mentioned in the title). They'd need to break below 2.065 --convincingly...(read more)

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7/17/2019 7:23:55 AM

Posted To: MND NewsWire

This month marks the tenth anniversary of the current expansion. How much longer can it last? Fannie Mae's July Economics Development report indicates it has a way to go, although likely at a slowing pace. The second quarter of 2019 has just ended, but Fannie Mae's ESR Macroeconomic Forecast team expects that growth in real gross domestic product (GDP) probably slowed from the impressive 3.1 percent it posted in Q1. They upgraded last month's Q2 estimate by one-tenth based on higher expenditures for personal consumption, but still expect growth slowed to an annualized rate of 1.8 percent. They have maintained their previous full-year forecast for 2019 GDP of 2.1 percent. This will slow further next year to an estimated 1.6 percent due to waning fiscal stimulus, continued uncertainty weighing...(read more)

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7/17/2019 6:34:09 AM