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Will the Bank of Canada cut interest rates again tomorrow (March 4, 2015)?

Will the Bank of Canada cut interest rates again tomorrow (March 4, 2015)?

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How to Save for a Down Payment

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. […]

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Tight market restricts growth for resale

http://www.househunting.ca/calgary/real-estate/Tight+market+restricts+growth+resale/9591425/story.html Resale activity of single-family homes in Calgary last month climbed two per cent over the same time a year earlier, the Calgary Real Estate Board says. Last month, 1,230 homes changed hands, up from 1,207 in February 2013. “Demand growth in the single-family sector has been restricted by the availability of product,” CREB chief […]

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CMHC Raising Insurance Premiums!!

Breaking News: It has been announced Friday CMHC has decided to raise their mortgage insurance premiums. Here are the 4 main Points to Review: 1. The average purchaser with less than a 20% down payment could have an increase in payment of approx.  $5 dollars a month as of May 1st 2014 2. This will […]

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Banking and their Infamous changing rates!!

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 […]

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Residential Market Update!

“At this time every year the perennial question arises, pay down the mortgage or top up the RRSP? Traditionally the answer has been, top up the retirement savings and use the tax refund to make an extra mortgage payment. It is not bad advice but there are those who say, “mortgage first”. They argue that […]

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What is amortization? Most Canadians don’t know

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 […]

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Determining the Best Mortgage Term

Choosing the mortgage term that is right for you can be a challenging proposition for even the savviest of homebuyers. By understanding mortgage terms and what they mean in dollars and sense, you can save the most money and choose the term that is right for you. The first consideration when comparing various mortgage terms […]

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The 2013 Mortgage Holder

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 […]

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Mortgage Title Fraud FAQ

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 […]

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