Mortgage Lending

mortgage lending: Some of Canada's largest banks are offering low mortgage lending rates, and many people looking to move from condos and rentals into family homes in the city are capitalizing on fixed agreements. Hot Mortgages," on CBC's Metro Morning BMO slashes five-year mortgage rate to 2.99% , according to Canadian Broadcasting Corporation, CBC. Laird says that the primary factor driving demand and fuelling the red-hot housing market is that an increasing number of potential buyers are able to qualify for large mortgages at bottom-barrel rates, and banks are "competing very aggressively for those buyers." 'There's a lot of couples out there competing for the same properties and there's not enough property to meet that demand, which leads to a very stressful buying process.The reality is that you will be competing with eight or nine or even 20 other families trying to buy the same property.' - James Laird, CEO of Truth North Mortgage Toronto's real estate bidding wars are reaching a fever pitch. "It's a sellers market out there ... and right now is the busy season. There are a lot of Toronto buyers out there looking for their first home, looking to take advantage of the rates," says James Laird, chief operating officer of True North Mortgage, in an interview with CBC's Metro Morning on Monday . (news.financializer.com). As reported in the news.