Mortgage Rates aren’t the only thing to consider

Many people obsess over mortgage rates, while there is much more to consider!

Bobby’s Renewal…an Animation.

Just trying out some new software for storytelling, this is my first attempt…

Hope you like it, please share it with your friends!


Michael Anthony Lloyd

3 Key areas to know when buying a home.

Video explaining the basic three areas you need to understand when buying a home and applying for a mortgage.


Michael Anthony Lloyd

Save Money On Your Next Mortgage Transaction

Save Money On Your Next Mortgage Transaction.


My latest guest post on Canadian Budget Binder…

Highlights from the CMHC Survey

CMHC does an annual survey of Mortgage Consumers to learn more about who they are working with to obtain/renew their mortgages.  It is of interest to a Mortgage Broker like myself as it gives us an indication of where our overall market is and which way we are trending.

The trend appears to be going towards Mortgage Brokers, which probably means we are doing a better job of getting the message out to the public that we are here and this shows up most dramatically with First Time Buyers.  While our numbers have improved with renewers, far too many still just take the offer their current lender gives them.  For the sake of some paperwork a little shopping by a Mortgage Broker has shown to save people on their renewing rates!

Here is a highlight from the report:

Mortgage Brokers and Lenders Both Continue to do Well in Terms of Share and Loyalty

In the 2012 survey, 27% of mortgage consumers used a mortgage broker to arrange their mortgage (23% in 2011). In the past year, brokers have made further inroads among mortgage renewers, with one in five relying on a broker. Broker share of mortgage originations has remained stable among first-time buyers at 48%, and repeat buyers at 32%. Among those refinancing their mortgage, 27% used a broker. Key reasons for using a broker continue to be getting the best rate or deal, and receiving excellent service.

Mortgage consumers remain loyal to their existing lender to varying degrees. Nearly nine in ten renewers continue to remain loyal to their existing lender, a finding that has been consistent over the past several years. Lender loyalty continues to be weakest among first-time buyers, where 59% reported getting their mortgage with the financial institution they were dealing with the most. However, there appears to be an increase in lender loyalty among first-time buyers, which has increased from only 47% in 2009. As with brokers, key reasons for using a lender continue to be getting the best rate or deal, and receiving excellent service.

For both lenders and brokers, mortgage negotiations are still dominated by face-to-face meetings (68% for those using a lender and 51% for those using a broker), followed a distant second by most negotiations being done over the phone (18% for those using lender and 21% for those using a broker). The majority of mortgage consumers agreed that they were satisfied with their experience using their lender or broker (83% for lenders and 77% for brokers).

The CMHC page this came from: CMHC 

The full report here

My sense is that the more clients we Mortgage Brokers can meet with, the less satisfied they would be with dealing with their lenders.

Michael Anthony Lloyd

New Guest Post on Breaking a Mortgage

Click the link and tell me what you think!

Guest Post on Canadian Budget Binder

Michael Anthony Lloyd

Our Team!

New video of our team!

10 Year Mortgage Report

I feel a big part of my role as a Mortgage Expert is having a pretty good idea or “guesstimate” of what is going to happen in the future and try to build a Mortgage Plan around that, taking into account my client’s needs and plans.  This can be pretty difficult at times, and nerve racking!  You don’t want to disappoint anyone, and you want people to do well because of the options you presented them.

In today’s rate environment, it’s pretty easy to get a fantastic rate…how couldn’t it be?  With rates that have never been seen before and may never be seen again it’s not about choosing this term, it’s about choosing the right term to best serve my client now and down the road when that term comes due.

That’s why I feel so strongly about the 10 year fixed rate mortgage now available to us from a few select lenders, when combined with our Inflation Hedge Strategy, this is a Mortgage Plan that can help a lot of people really make an impact on their mortgage balance and bring them closer to their Mortgage Freedom Day…this is great news!  Please watch the video I did above, it’s just about 11 minutes long, but isn’t saving thousands of dollars worth a few minutes of your time?

When you are done, please download the free sample report by clicking the button below or email me and I will build you a custom personalized one.

This amazing window of opportunity will be open for a little while, but don’t wait too long..and please share this page with anyone you care about, it’s unlikely they have anyone actively managing their mortgage this way and I’d luv to help them…thanks!

Michael Anthony Lloyd

Do you know when your “Mortgage Freedom Day” is?

We at DLC Canadian Mortgage Experts want to move your “Mortgage Freedom Day” closer to reality for you by using various strategies.

David and Goliath…

I truly believe the Bank’s are currently winning the war when it comes to the average Canadian’s view of why they want to deal with a Bank vs. a Mortgage Broker.

Let’s start with the obvious, they had a head start of about 90 – 100 years or more.   Only since the 90’s have Broker’s even become a become an option, and while many don’t realize it, Broker’s are a big part of why we have such discounting on mortgage rates today.  I worked in a Credit Union as a Loan’s Manager in 1994…a .25% discount off of posted was tough to get approval for, now 1.25% isn’t a big deal or more!  Brokers, by providing competition to the Banks, helped usher in the era we live in now of bigger discounts.  A few years ago Brokers hit about 25% market share (higher with First Time Buyers)…so Brokers basically “woke the giant” of the Banks and in return the Banks have hired more Mortgage Sales Force people than ever before and are pushing rate as the be all end all of a good mortgage.  By keeping most discussions about mortgages centered on rate, it’s easy to just try to out discount the Broker’s rate.  If that’s all you see value you in, Banks may make more sense.

So what is the average Canadian getting for dealing with Bank’s more than Brokers?  We see it all the time, they almost always ask “what’s your best 5 year rate?”  The Bank’s have trained us to say it.  Banks don’t even want to discuss variable rate mortgage options with most clients.  No Bank will call or email you during the term of your mortgage to let you know it might make sense to break your term and save money on your interest charges…they can’t make Billions a year doing that!  Yet just having a low rate does little to educate you on how to pay your mortgage as fast as possible, which is your real goal isn’t it??  Most people have no plan, no idea how to get that big monkey off their back.  The Royal Bank even produced a report recently that admitted most Canadians think they are going to be carrying a mortgage longer than they thought. link

This is where I believe we need to make a difference for our clients and take on a “Management” role with their debts.  People will have an Investment Advisor for their $40,000 RSPs, why not for their $500,000 mortgage debt?

My team and I are moving mountains to bring you more value as a Mortgage Planner/Manager.  Our new Mortgage Optimization strategy (see the video launch here) is the first of many ideas we are launching.  Tell us what you think!


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