Mortgage Broker

[Robbob]

I just wanted to give massive kudos to Jamie (Mike Oxlong). He helped me and my wife secure a mortgage to purchase our house. I can also vouch that he did a phenomenal job helping us out and answered all the questions we had (funny, I had stupid questions too!). Honestly he went above and beyond my expectations (he emailed me back via blackberry from the hospital after the birth of his daughter!).

Could not have been any happier with the process. Extemely happy with coming to CP oracle and finding Jamie.

Thanks again Jamie!

[GoinAllTheWay]

Originally Posted by Robbob

I just wanted to give massive kudos to Jamie (Mike Oxlong). He helped me and my wife secure a mortgage to purchase our house. I can also vouch that he did a phenomenal job helping us out and answered all the questions we had (funny, I had stupid questions too!). Honestly he went above and beyond my expectations (he emailed me back via blackberry from the hospital after the birth of his daughter!).

Could not have been any happier with the process. Extemely happy with coming to CP oracle and finding Jamie.

Thanks again Jamie!

They had a son

[Mike Oxlong]

Rates have dropped again.
5 year fixed now at 3.95%
5 year variable at Prime plus .05% (2.30% currently)

These are great rates with a good lender. They aren't a quick close special or some "value" mortgage that doesn't allow any prepayment privledges like a lot of the other low rates are.

This lender actually has the best pre payment privledges in the business.

I can get a 120 day rate hold on these as well. Let me know if you are buying or renewing soon.

[Mike Oxlong]

Just a quick heads up for anyone interested. A friend of mine at RBC told me they are raising interest rates by .3% on Tuesday. Generally they lead the way and the other lenders follow shortly after.

I can get a 120 rate hold on today's rates. If anyone is thinking about buying or has their mortgage coming up for renewal soon, let me know and we can get today's lower rates locked in in case they do make a big jump next week.

[The Special One]

These interest rates are too low. It makes me very wary about buying a house in today's market. They are intentionally keeping rates low in order to stop a complete collapse of the real estate market.

[albertGQ]

CIBC's VRM closed is now P+0% FYI

[Burninator]

I just want to thank Jamie for helping get my first mortgage to help me buy a condo a couple weeks ago. Jamie was very helpful and answered all my questions and helped me every step of the way. I am very glad I decided to get the help of a mortgage broker it was definitely something I recommend everyone do. And I wouldn't hesitate to recommend them to Jamie as well.

Thanks Jamie

[Kolbe31]

My girlfriend and I recently bought a house, and we're currently working with our mortgage broker to get the best rate. CIBC seems to be the front runner, however there's a company called Concentra Financial that we've also talked about. Does anyone know anything about Concentra? I've never actually heard of them. Apparently they're a credit union company, although I'm not sure what the difference is between that and other financial institutions. My gut tells me that I should go with a bank, like CIBC or RBC. Does it matter?

[Slava]

Originally Posted by Kolbe31

My girlfriend and I recently bought a house, and we're currently working with our mortgage broker to get the best rate. CIBC seems to be the front runner, however there's a company called Concentra Financial that we've also talked about. Does anyone know anything about Concentra? I've never actually heard of them. Apparently they're a credit union company, although I'm not sure what the difference is between that and other financial institutions. My gut tells me that I should go with a bank, like CIBC or RBC. Does it matter?

I know a guy at concentra, but he only does commercial lending. Probably not a lot of help here, but basically its just a credit union. No major plus/minus as compared to the big banks that I know of.

[Mike Oxlong]

Originally Posted by Kolbe31

My girlfriend and I recently bought a house, and we're currently working with our mortgage broker to get the best rate. CIBC seems to be the front runner, however there's a company called Concentra Financial that we've also talked about. Does anyone know anything about Concentra? I've never actually heard of them. Apparently they're a credit union company, although I'm not sure what the difference is between that and other financial institutions. My gut tells me that I should go with a bank, like CIBC or RBC. Does it matter?

I am familiar with Concentra. They are a very solid lender, I would have no problem obtaining a mortgage through them or putting any of my clients into a mortgage through them either.

A lot of the smaller lenders often beat the rates the big banks can get you. It definitely pays to shop around or have a broker shop around for you.

[Mike Oxlong]

Fixed rates across the board have dropped again.
3.99% for a 5 year fixed now. This is with one of the best lenders out there as well.
I can get a 120 dat rate hold on that if you need.

All rates are available at www.jamiecoulter.ca

[Mike Oxlong]

Originally Posted by fotze

Any Open Fixed?

4.99% on an open fixed.

I'll check for anything better.

[Mike Oxlong]

Looks like fixed rates could be on the rise again. Bond yields have increased and some lenders are starting to increase their rates.

Right now I can still get 3.99% on a 5 year fixed, and even lower on 1-4 year rates. As mentioned earlier I can get you a 120 day rate hold on this rate as well.

If you are thinking about buying, refinancing, or your mortgage is coming up for renewal let me know and we can get take advantage of these rates before they increase.

[Mike Oxlong]

Originally Posted by fotze

Is variable open still at prime +0.8?

Yep. That's the best I can find anywhere right now. Some are even higher than that.

[Mike Oxlong]

Quick update on rates. I am getting more and more emails indicating rates are on their way up.

If you are even considering buying, refinancing, or if your mortgage is coming up for renewal let me know and I can get a rate hold put in for you. It takes me all of 2 minutes, I just need your name, email, phone number and approx mortgage amount. We don't need the full application done right now.
I can get you 3.99% on a 5 year fixed and hold that rate for the next 120 days.

There is no commitment to this at all. I am happy to get that rate held for you just in case you need it. It's always better to have options.

PM me or email me at jamiecoulter@shaw.ca

[Mike Oxlong]

Originally Posted by fotze

What rates can you hold on other deals??? 1 year, 2 year etc?

Here is a breakdown on most terms:

1 Year Fixed2.65% 2 Year Fixed3.15% 3 Year Fixed3.49% 4 Year Fixed3.99% 5 Year Fixed3.99% 7 Year Fixed5.25% 10 Year Fixed5.35%

[fundmark19]

Mike,

I have been hearing about a 3.85 5 yr fixed rate floating around. Are you able to get this rate to?


( I don't want to say lender or who I got info from to impede on your thread)

[Mike Oxlong]

Originally Posted by fundmark19

Mike,

I have been hearing about a 3.85 5 yr fixed rate floating around. Are you able to get this rate to?


( I don't want to say lender or who I got info from to impede on your thread)

I am able to get that rate as well. You have to be a bit careful with some REALLY low rates like that though. This is what is called a no frills mortgage (if it is in fact the one I am thinking of). It doesn't give you any flexibility at all as far as lump sum payments go to pay the mortgage down faster, or increasing your payments at all. It is also very restrictive when it come to porting the mortgage to another property should you ever need to. It is very strict and not flexible which you have to be careful of.

For some people it may be fine and meet their needs, however it is pretty restrictive and I make sure to let my clients now that going in. In my opinion for a few extra points you can get a far more flexible option.

As far as rates going up as I was warning about in earlier posts, it hasn't happened yet. The employment report that was released on Friday showed unexpectedly low job growth which has stalled banks on raising rates for now. The increases are coming for sure, just don't know exactly when though.

EDIT: I just had a rate notice sent to me that 3.89% is available and it is NOT a no frills mortgage. Lots of flexibilty and different options.

[Mike Oxlong]

Rates have been dropping this week. After everyone was expecting them to climb they have actually fallen even further.

5 year fixed - 3.79%
5 year fixed on a quick close special - 3.69% (Must close by Mar 26th)

Let me know if you have questions.

[go iggy]

Whats the best closed variable rate that you can get?

i have prime +.8 and another prime -.5