Do you know the difference between fixed-rate mortgages or variable (sometimes called adjustable-rate) mortgages? Each mortgage type is affected by different market conditions and each offers its own advantages or disadvantages. One of the most important steps in financing your home is choosing which type...
The long awaited and anticipated interest rate announcement was released from the Bank of Canada this afternoon. As many expected, the Bank of Canada raised the interest rate to 1.25% - the highest level since 2009. A strong Canadian economy, as demonstrated by a positive...
Finding and purchasing your first home can be both thrilling and frightening all at once—thrilling because you’re taking a major step toward independence, and frightening because of the added responsibility that step means. Buying a home is easily one of the biggest financial decisions you’ll...
There are a number of reasons why you might consider refinancing your property. One of these could be to capitalize on the equity you’ve built up in your home. For example, using the equity in your home can be a lower cost way of accessing...
If you are buying your first home, congratulations! This is an exciting milestone in your life, but it can also be a stressful one. Buying a home will likely be the most expensive purchase you will ever make and securing financing to make the transaction...
Heating a house during cold weather can be expensive. When you want to save money on the utility bills and enjoy a cozy, warm house, you may wonder what steps you can take now to prepare for the season. These low cost ways to prepare...
There are many mishaps that can be avoided in life with the right knowledge, awareness, and tactics. Mortgage mistakes fall in this category. Recognizing mortgage mistakes made in Canada can aid in making an informed and educated decision. Bank loyalty will not give you the best...
Given high credit card interest rates and associated fees, debts can build quickly. Given the overwhelming pressure and stress that these financial problems can create, many people are looking for a fast and effective way out. If this sounds familiar, you may be wondering should...
As your mortgage term draws to an end, you can expect to receive a letter or renewal from your lending institution. These letters are fairly straightforward given that they give you a number of rates and a term to choose from. The banks make it...
From our considerable experience dealing with clients every day, we have realized that while we deal with a vast amount of inquiries daily, there are about a dozen questions which are consistently asked by just about every other client. Here are some of the most...
It is extremely important to inspect a house well before signing the papers. This is to assure you that it is free from any damage and unforeseen expensive repairs. Costly repairs that were not in your budget even though any new house sometimes requires a...
We all know just how difficult it can be looking for the right property. Particularly in Canada, a wide range of Canadians are completely unaware of what you must consider before buying a property. It is without doubt that credit is an important factor however...
You know all those neat features on your mortgage that will allow you to get that sucker paid off lickety-split? How many of them have you taken advantage of? If you’re like most Canadians, not many. According to Canada Mortgage and Housing Corporation (CMCH), “27% of...