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About Mortgage LogicFinding the right mortgage for your circumstances is important to us. As Accredited Mortgage Professionals (AMP) we offer the highest level of integrity, customer service and industry knowledge.
- The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves to remind FRFIs of their obligations under Guidelines B-20 and B-21 to assess and underwrite mortgage loans and mortgage insurance in a prudent manner. The letter states: Given the current economic environment in Canada, with record levels of household indebtedness and growing risks and vulnerabilities in… Read More
- The Bank of Canada (BoC) today announced that it will be doing nothing with their key overnight lending rate, thus leaving the Prime lending rate at major FI's the same. The Prime lending rate will remain at 2.7% which is the base rate for virtually all variable/floating or adjustable rate lending in Canada. WIld new things are happening in the world economy: Oil prices remain lower Interest rates have turned negative in Europe & Japan There is a chronic shortage of demand for goods… Read More
- A client of ours recently wrote about their experience for others to benefit: "For us, dealing with someone we trusted who had extensive experience in the mortgage lending field was a necessity. Having worked in financial services for a while, I’m lucky to know a few good mortgage brokers, however if you don’t have anyone in your network that you would like to work with then ask friends and co-workers for referrals. Whether it’s your first mortgage, a renewal or a… Read More