Canadian Mortgage Rates
| Term | Rate |
| Prime Rate (P) | 3.00% |
| Line of Credit (LOC) | 3.50% |
| 5 Year Closed Variable | P -0.15% |
| 5 Year Open Variable | P +0.75% |
| 6 Month Closed | 2.89% |
| 1 Year Closed | 2.79% |
| 2 Year Closed | 2.89% |
| 3 Year Closed | 2.89% |
| 4 Year Closed | 2.99% |
| 5 Year Closed | 3.19% |
| 7 Year Closed | 3.89% |
| 10 Year Closed | 3.89% |
YOUR CANADIAN MORTGAGE BROKER
October 13, 2010
Project helps immigrants connect with workforce
There's an old saying in business that often it's not what you know but who you know when it comes to landing a job.
Era Wegad can attest to that.
Wegad, who came to Canada from India a couple of years ago, was able to secure a position in early September as a group sales representative for Equitable Life Insurance thanks to networking and connections her mentor, Mandy Lelke of TD Insurance, had in the community.
Wegad was one of 34 skilled immigrants who have completed a pilot project in the city through the Calgary Region Immigration Employment Council, which connected them with mentors in their fields to improve their chances for employment.
"It did help me in getting my self-confidence and self-esteem better because I saw people in the program believing in me. I thought, 'They believe in me, so I should believe in myself,' " said Wegad, who worked in the life insurance industry in India. "They helped me boost my confidence for sure and (gave) me direction.
"Mandy helped me as to the insurance licence I could get if I needed it. Also, networking and connecting me with the right people."
Job hunting can be hard enough when you know people, but when you're lacking local connections of any kind, it can be far more difficult.
Of 34 successful mentormentee relationships in the council's pilot project, seven mentees have so far secured local employment in their respective fields, with a number of others currently undergoing job interviews.
The employment council's 16-week Mentoring Collaborative is designed to provide skilled immigrants with the tools to secure meaningful employment in their fields, from engineering, engineering services, human resources, IT and project management to sales, accounting and auditing.
Click HERE for the complete article.
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December 2, 2011; MCAP has announced an agreement to acquire the residential mortgage operations and certain related assets of ResMor Trust Company (ResMor). The transaction is expected to be completed in the first quarter of 2012 and is subject to regulatory approval and other customary closing conditions. [ Read more... ]
October 25, 2011; The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. [ Read more... ]
October 19, 2011; Since 2008 the government of Canada has made mandatory changes to reduce the maximum amortization period from 40 years down to 35 and now down to 30 years for any insured mortgages.
Insured mortgages (also known as high ratio mortgages) are mortgages that require less than 20% of the value of the home for the down payment or for refinancing, less than 20% in equity. The government backs these mortgages for the protection of the lenders. Currently with these mortgages the maximum amortization period is 30 years.
The media has covered how the amortization has been reduced to 30 years in depth, but they have failed to mention that this is not the case with other mortgage options. Mortgages that are often referred to as conventional or uninsured mortgages, which entail a 20% or greater down payment or equity, still offer amortization periods of up to 40 years. [ Read more... ]
Project helps immigrants connect with workforce
There's an old saying in business that often it's not what you know but who you know when it comes to landing a job.
Era Wegad can attest to that.
Wegad, who came to Canada from India a couple of years ago, was able to secure a position in early September as a group sales representative for Equitable Life Insurance thanks to networking and connections her mentor, Mandy Lelke of TD Insurance, had in the community.
Wegad was one of 34 skilled immigrants who have completed a pilot project in the city through the Calgary Region Immigration Employment Council, which connected them with mentors in their fields to improve their chances for employment.
"It did help me in getting my self-confidence and self-esteem better because I saw people in the program believing in me. I thought, 'They believe in me, so I should believe in myself,' " said Wegad, who worked in the life insurance industry in India. "They helped me boost my confidence for sure and (gave) me direction.
"Mandy helped me as to the insurance licence I could get if I needed it. Also, networking and connecting me with the right people."
Job hunting can be hard enough when you know people, but when you're lacking local connections of any kind, it can be far more difficult.
Of 34 successful mentormentee relationships in the council's pilot project, seven mentees have so far secured local employment in their respective fields, with a number of others currently undergoing job interviews.
The employment council's 16-week Mentoring Collaborative is designed to provide skilled immigrants with the tools to secure meaningful employment in their fields, from engineering, engineering services, human resources, IT and project management to sales, accounting and auditing.
Click HERE for the complete article.Mortgage Process
In Other Languages
Breaking News
More News
Insured mortgages (also known as high ratio mortgages) are mortgages that require less than 20% of the value of the home for the down payment or for refinancing, less than 20% in equity. The government backs these mortgages for the protection of the lenders. Currently with these mortgages the maximum amortization period is 30 years.
The media has covered how the amortization has been reduced to 30 years in depth, but they have failed to mention that this is not the case with other mortgage options. Mortgages that are often referred to as conventional or uninsured mortgages, which entail a 20% or greater down payment or equity, still offer amortization periods of up to 40 years. [ Read more... ]