Lisa Tollis, Real Estate Salesperson
1122 Wilson Street West. Ancaster, ON L9G 3K9
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Fax: (905) 643-7393
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CanadaMortgageNews.ca

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 My advice is simple: Over 50? Get a secured line of credit while you can qualify.

11/14/2019 10:09:22 AM

Is choosing a mortgage as easy as booking a trip or trading a stock?   Let’s find out!  Sure, you can book a flight online or buy a stock through the … Continue Reading Online shopping …. Stocks, Vacations and Mortgages. What’s the difference?

11/7/2019 11:25:51 AM

Mortgage rates fell by about 1% since January of this year. That rate drop has created a surge in real estate sales across Canada, with September and October seeing a … Continue Reading Important week for mortgage rates could cost or save you thousands.

10/30/2019 7:09:49 AM

I saw this article from earlier this year about Good debt and Bad debt.  Canadian Personal debt levels have now surpassed $2.21 trillion.  That’s a big number, should we be concerned?  … Continue Reading Good debt and Bad debt…. do we Canadians recognize the difference?

10/24/2019 9:09:58 AM

The internet is great for researching infomation, ratings and even advice. With so much available data, it’s hard to decide which is accurate, reliable or even truthful. Take this site … Continue Reading Information vs advice. Why is it free?

10/17/2019 10:25:00 AM

Part 2 of 2….  In Part 1, we examined rental properties and how they can be a great way to reduce your taxes, build net worth and create an income … Continue Reading Death, taxes and interest payments. Part 2 of 2.

10/10/2019 2:33:21 PM

Death and taxes, the only two things that are certain in life. You’ve heard this one before.  I think there is a third thing that can be just as stressful, … Continue Reading Death, taxes and interest payments! Part 1 of 2.

10/4/2019 10:43:29 AM

Mortgage News Daily

Posted To: MND NewsWire

Look closely and you will see that a lack of new home construction is behind almost every problem facing housing today. Residential construction has simply not recovered from the financial crisis and the experts see it only growing worse. Freddie Mac's economists estimated the long-term shortfall between the supply of homes and the demand could be 2.5 to 4.0 million units each year. The National Association of Homebuilders' (NAHB's) Paul Emrath says since 2006 builders have never matched the average of 1.5 million homes they built each year from 1961 to 2000. While there are many reasons builders aren't building, two of them are the costs of construction making it risky for builders to assume they can make a profit, and the lack of appropriate skilled labor . One type of building that is attracting...(read more)

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11/14/2019 3:59:53 PM

Posted To: MBS Commentary

By the end of last week, although there was potentially a sliver of hope afforded by Friday's highs being slightly lower than Thursday's, it looked like bonds were punching out of the massive 2019 rally and embarking on the new trend toward higher rates. But the new week of trading has increasingly called that conclusion into question. Granted, there were a few other reasons to hold out hope over the weekend (trade deal backtracking, temporary trepidation about new bond issuance, the technical ceiling at 1.94% potentially acting as a buying cue, and the chance that the weakness was exacerbated by the "3-day weekend effect"), but no one could be blamed for not wanting to catch that falling knife. By moving back down to 1.82%, 10yr yields have already made it clear that a surge...(read more)

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11/14/2019 3:58:17 PM

Posted To: Mortgage Rate Watch

Mortgage rates moved lower again today. Whereas it was a bit easier to be dismissive about recent improvements, they're starting to add up at this point. Granted, we're not talking about anything other than a return to the rates seen on November 6th, but for anyone who was rate shopping at the end of last week, that's a welcome change. As if often the case on Thursdays, there is a major discrepancy between much of today's mortgage rate news and what I'm telling you here. Specifically, whereas I'm telling you rates are lower today and as low as they've been in more than a week, the average major media outlet is saying rates are HIGHER this week. As usual (at least when it comes to rates on Thursdays), I'm right and they're wrong. Actually, I'm right in a timely way and they're right if the goal...(read more)

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11/14/2019 3:24:00 PM

Posted To: MBS Commentary

Bonds gave us quite a scare last week as key technical ceilings gave way. High volume and concrete fundamental justification added validity to the move. Combine that with the massive size and old age of the 2019 rally and there was more than just a small reason to be concerned. To be very clear, there are still reasons to be concerned about a potential big-picture shift that may be in the works, but we can at least entertain the possibility that such a shift has yet to be confirmed. I keep going back to 2011 as the best example of similar behavior in the bond market. For several weeks now, it has been the precedent that lets us know bonds could rally even more, or undergo only a mild correction before embarking on another rally trend. If we examine 2019 vs 2011 with a long-term modified moving...(read more)

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11/14/2019 8:32:39 AM

Posted To: Pipeline Press

Some people save $2.95 a day by making coffee at home rather than stopping at Dunkin’ or Starbucks. It adds up! Something didn’t add up for WeWork which reported this morning that it lost $1.25 billion in the 3rd quarter. I think that’s the combined whole net worth of about 1,000 small brokers and bankers. Perhaps WeWork could use a loan, from… Google? Next year you’ll be able to bank at Google via a partnership with Citigroup and a credit union. All the talk months ago about Amazon entering residential lending, what about Google? (By the way, yesterday Nike cut off selling through Amazon.) Lender Services and Products Maxwell’s ground-breaking loan application, QuickApply, for their digital mortgage point-of-sale platform is designed to ease one of the...(read more)

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11/14/2019 7:54:53 AM

Posted To: Mortgage Rate Watch

Mortgage rates have been more willing to move higher than lower recently. While that may continue to be the case in the near-term future, there have been pockets of resistance to that trend. The first 2 days of this week seem to be just such a pocket. The direction of the movement is good, but the magnitude may leave a bit to be desired, depending on your standards. The average loan scenario would still be seeing the same "note rate" quote as yesterday, but the effective rate would be slightly better due to lower upfront borrowing costs. In the bigger picture, it makes sense to remain defensive about the possibility that the broader trend toward higher rates can continue. We'd need to see a much more substantial push back toward lower rates in order to abandon that defensive stance. Loan Originator...(read more)

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11/13/2019 4:44:00 PM

Posted To: MBS Commentary

The most defining moment of the big 2019 bond rally was undoubtedly the August 1st tariff announcement and the resulting massive reaction in both yields and volumes. The 2 weeks that followed represented the market's attempt to price in a scenario where global trade tensions would push the US and other countries toward economic contraction. With the benefit of hindsight, we can look back to mid-August and observe that bonds have essentially been correcting that initial rally ever since then. There was an early opportunity to claim the correction was complete in mid September, but we didn't need hindsight to identify that as a head fake. The past 4-5 weeks, however, have been more serious, with the most troubling developments seen on Thursday and Friday of last week. That's when...(read more)

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11/13/2019 9:03:29 AM

Posted To: Pipeline Press

I continue to see headlines as I head to balmy Kansas today. There was, “A Court Ruling Makes Mortgages Vanish Into Thin Air.” This is a headline no lender wants to see, but apparently this court decision might change how home loans are valued in the secondary market . As if capital markets personnel don’t have enough to worry about in the last few months or so with the FHFA-motivated sudden price movements by Freddie and Fannie, servicing values taking a tumble, and renewed talk of slimmer margins heading into the winter. And what about “Australia launches first EVER digital mortgage you can secure with the touch of a button from your smartphone ”? Recently I was telling a friend on my walkie-talkie that you can’t ignore innovation. Lender Products and Services...(read more)

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11/13/2019 7:57:43 AM

Posted To: MND NewsWire

Access to government loans continues to decline, but conventional and jumbo loans picked up the slack in October, pushing the Mortgage Credit Availability Index (MCAI) higher. The Mortgage Bankers Association (MBA) said the Index grew by 0.9 percent to 185.1 in October. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. "Mortgage credit availability expanded in October, driven mainly by an increase in conventional loan programs, including more for borrowers with lower credit scores, as well as for investors and second home loans ," said Joel Kan, MBA's Associate Vice President of Economic and Industry Forecasting. "Credit supply for government mortgages continued to lag, declining for the sixth straight month...(read more)

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11/13/2019 7:35:24 AM

Posted To: MND NewsWire

Once again the "Good Time to Buy" component of Fannie Mae's Home Purchase Sentiment Index (HPSI) is on the decline. Net positive answers to that question fell by 7 percentage points in October , helping to drag the entire index lower for the second straight month. The HPSI decreased 2.7 points to 88.8 but remains up 3.1 point compared to October 2018. The Index set an all-time high of 93.8 in September. The HPSI is constructed from responses to six questions included in Fannie Mae's monthly National Housing Survey (NHS). Five out of six components declined in October. The Good Time to Buy question elicited net positive responses of 21 percent. Its companion question, whether or not it is a good time to sell, fell 3 percentage points to 41 percent. Another large decline was in the net share...(read more)

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11/13/2019 7:26:52 AM