Canadian Residential Mortgage Variety
“The Canadian Residential Mortgage Market Provides Greater Opportunity For Financing Your Home Than Anywhere Else In The World”
There is no question that the Canadian residential mortgage market, similar to the home mortgage markets in other countries can be an extremely lucrative financing market due to its size and importance to the overall economy.
As a result, there are many mortgage lenders out there focusing on a different slice in the market to pry more and more market share away from the big banks and to get their own share of the mortgage pie.
When the market is functioning properly, this competitive diversity in residential mortgage programs provides you the consumer with high competitive offers for “A” credit deals and a wide spectrum of offers and choices for those situations that do not fit the prototypical single family mortgage financing scenario.
When the market is in dysfunction, like we’re seeing in most of the world these days, the smaller niche lenders tend to leave the market and the larger lenders become more constrictive with respect to their offerings and their willingness to issue mortgage commitments on demand.
Fortunately for Canadians, the Canadian mortgage market has held together during turbulent financial times in the global markets. Other than a few changes here and there to lending terms and mortgage insurance programs, the market has not changed a great deal in terms of competition and available programs.
As Canadians, this is something we now largely take for granted. But if you spend any time reading the paper or surfing the financial reports on the web, you’ll quickly discover that other parts of the world can now only wish for the type of system and residential mortgage market options we are all afforded here in Canada.
Mortgage lenders are undoubtedly reading the same stuff and will likely continue to make tweaks and changes that take risk out of the market and maintain a healthy environmental for competition, or at least we all hope they do.
The point here is that regardless of how you may be impacted by subtle changes in the mortgage rules and regulations from time to time, there is greater access to residential home mortgage financing here than anywhere else and that we are blessed with a wealth of choices that are easily taken for granted.
The best way to make sure you are fully utilizing the available mortgage market resources and home mortgage programs to their fullest is to work with a Toronto mortgage broker who can assess your requirements and situation and guide you through the programs most relevant to you in the market at a given point in time.
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About the Author Joe Walsh
I'm a Toronto Mortgage Broker that arranges mortgage solutions on residential and commercial real estate property. With over 30 years of mortgage financing experience, I'm able to quickly assess your financing requirements and provide relevant solutions for your immediate consideration. Joe Walsh Google+ YouTube Channel