Will the Bank of Canada cut interest rates again tomorrow (March 4, 2015)?
Are you considering buying a new home or investment property in the near future? If so, saving a down payment can be a challenge. But think of it this way: if you can discipline yourself to regularly set aside funds until you have a down payment, you’ll probably have no trouble making your mortgage payments. […]
The Bank of Canada has kept the key interest rate steady and banks have been quietly cutting their rates for fixed and variable mortgage rates. They are also fighting for a shrinking pool of borrowers so it sounds like a great time to renew your mortgage. Yet many Canadians simply sign their mortgage renewal papers. A 2011 Manulife survey found […]
Nearly 70% of Canadians own their homes, yet over half of Canadians don’t even know what amortization is. That’s fairly concerning, and it raises the question: should mortgage borrowers ask more questions, or should mortgage lenders educate borrowers more? As a mortgage borrower, it is your responsibility to ensure you perfectly understand the loan you […]
After numbers were released by CAAMP this week in their Annual State of the Residential Market Report, we’re able to have a pretty good picture of what the mortgage consumer in 2013 looks like. The information tells us quite a bit about the marketplace and who’s looking to buy right now. 450,000: The number of […]
Mortgage fraud can happen to anyone, and the rate of fraud is on the rise right now. Industry insiders peg the average case of title fraud at $300,000. Fraud is on the rise! In 2000, real estate title fraud claims accounted for only 6 per cent of total dollars paid in claims at First Canadian […]