March 27th, 2017
Call it the gap between what you have to pay and what you can afford to pay — it’s going to be considerable when you qualify for your next mortgage. … [read more]
March 14th, 2017
Your mortgage is by far the largest amount of debt you will ever undertake in your entire life. No matter where you are in the mortgage repayment process, there are … [read more]
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March 2nd, 2017
OTTAWA – The Bank of Canada is holding its trend-setting interest rate at 0.5% but it’s keeping a watchful eye on “significant uncertainties” that it warns could alter the economy’s … [read more]
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February 27th, 2017
Most people tend to feel that things will change only by the tiniest degrees in the next decade or two, which is why being aware of the impact of their … [read more]
Comments Off on Mortgage Terms Should Be Taken Into Account – Not Just Rates
February 21st, 2017
Everywhere you turn, you hear how bad it is to carry around debt. So naturally, it’s logical to think that buying a home with cash – or sinking as much … [read more]
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February 6th, 2017
Over the past 25 years, a seismic shift in how people think about retirement has occurred. A steady decline in interest rates to historically low levels combined with pressure on … [read more]
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January 31st, 2017
How long do you need to save up for a down payment? How long does it take to get approved for a mortgage? Buying a home—especially for the first time—is … [read more]
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January 26th, 2017
Canada Mortgage and Housing Corporation (CMHC) announced last week that it would raise homeowner mortgage loan insurance premiums effective March 17, charging borrowers “a few dollars more” every month. The … [read more]
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January 12th, 2017
You have saved up enough money for a down payment, and now you’re ready to get your first mortgage. However, there are a few things you should know before you … [read more]
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December 20th, 2016
What impact will the recent mortgage rule changes have? And what about the potentially volatile Trump effect? “The change in qualification rules for homebuyers means that the posted 5-year rate … [read more]
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December 16th, 2016
Acquiring a mortgage is undoubtedly one of the biggest financial decisions you’ll ever have to make in your lifetime, therefore finding the home loan that fits your needs should be … [read more]
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December 14th, 2016
Applying for a mortgage will most likely be one of the biggest financial decisions you ever make. That means it will be prudent to spend quite a bit of time … [read more]
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December 9th, 2016
The average price of a home across the country continued to climb in 2016 but any savings Canadians are getting from mortgage rates are getting smaller, according to a new … [read more]
Comments Off on Mortgage Rates May Finally be Bottoming Out in Canada
December 7th, 2016
If you are preparing to buy your first home, you may be mixed with feelings of excitement and stress. You may have grand dreams of finally living in your own … [read more]
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November 29th, 2016
In a new survey, Manulife Bank of Canada found that over 16% of Canadians will not be able to service existing debts if their current mortgage payments increase in any … [read more]
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November 25th, 2016
Another survey by a Canadian bank finds that some Canadian homeowners are not very secure, financially speaking. About one-quarter said that they had just $1,000 set aside for an emergency, … [read more]
Comments Off on Mortgage Rates Too High? Only If You’re a Millennial
November 23rd, 2016
Canada has one of the highest homeownership rates in the world thanks in part to its low minimum down payment requirements, but Evan Siddall, president and CEO of Canada Mortgage … [read more]
Comments Off on Canada’s Low Down Payments are Harming First-time Buyers
November 2nd, 2016
Getting a mortgage can be a costly endeavor from the onset. You’ve got to worry about getting together a down payment, securing an affordable interest rate and covering closing costs, … [read more]
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November 1st, 2016
Most people will need a mortgage to buy a home. That means that not only do you need to shop for a home, you need to shop for a home … [read more]
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October 21st, 2016
How will the new mortgage rules impact various markets? One veteran, who has been on the front lines for various market ups and downs, weighs in. “Could (the recent mortgage … [read more]
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October 19th, 2016
You’ve spent hours and hours looking at potential investment houses or even for your primary residence. You’ve found the perfect property and had your offer accepted. Submitting the required paperwork … [read more]
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October 12th, 2016
Mortgage Broker Licensed Brokers, usually commission based, work as middlemen between mortgage lenders and borrowers. These brokers do not work for any particular lender; however, they have developed connections with … [read more]
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Comments Off on Mortgage Gap Created by The Posted Rate Leaves Homebuyers With A Decision to Make