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...
Aggressive sales at the bank

Aggressive sales at the bank

For starters – check out what Rob Carrick has to say from the Globe & Mail about this.   Just because the banks are extending you credit it does not mean you qualify for it. It would be hard to miss the CBC exposure of the Bank employees complaints of...
Debt Zombies

Debt Zombies

In the spring of 2012, we were trying to come up with something fun to send out to the neighbourhood as our debt consolidation outreach. We are the first people you should call when you need to consolidate debt because we not only help to consolidate your debt, but to...

Keeping ahead of COVID-19

In the interest of helping to slow the spread of Covid 19 the PMG has decided to close the office to the public. We are still fully operational but will not be seeing clients in person. Thank you for your understanding and please take care of yourselves.