Confirmation bias & fake news. There’s more to the story of mortgage rates

Confirmation bias & fake news. There’s more to the story of mortgage rates

Simple discourse. 2017 was an interesting year, a year of polarization and extremes. While this isn’t new, I find increasingly, measured debate and analysis has eroded into tweets and talking points. Conversations that have real implications to the development of our society are reduced to angry jabs, ‘fake news’ and bias confirmation. How does this apply to mortgages, you ask? It applies in the way recent changes to mortgage qualification rules and rate hikes are portrayed in the media. Being that many of us scan headlines and have neither the time nor the interest to dig deeper into stories that might affect us, it’s important to consider the ambiguity of some of these headlines: A major...

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OFSI’s New Stress Test

OFSI’s New Stress Test

People have been listening to new jargon like “stress test” regarding mortgages. The government is using new words, which, in my opinion carry very negative connotations. Stress Testing is a practice as old as the woods in lending. It is called “qualifying for your...
Should I Stay or Should I Go…Now

Should I Stay or Should I Go…Now

After the joyful reminder of this classic hit by The Clash, what we’re really talking about is spousal separations. In the 28 years we have been in business we have dealt with hundreds of divorce situations. We find it best for our clients to call us as soon as...
Running the Gamut in 2017

Running the Gamut in 2017

The real estate business has really ‘run the gamut’ this year. I love that phrase – the origin is traced back to a musical concept developed by a cool medieval monk named Guido who essentially invented the first syllable-note system (think Do, Re, Mi)....
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