Category

Money Matters
Is the GTA real estate market settling down I was speaking recently with Lisa LeGrow, from York Region’s Main Street Realty. She always has great insights for me on the local market. She noted there has been a subtle change there – whereas only a few weeks ago, homes under one million dollars were going to...
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1.85% Variable Rate Mortgage Meridian Credit Union has decided to flex its muscles and is offering their closed, five year variable rate mortgage at an incredibly low 1.85%. That is Prime less 0.85%. Back when I got my first mortgage at 14.75% in 1990, I never dreamed we would ever see rates so low! And...
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Two credit cards are better than one The other day a reader wrote in and asked “is it bad for my credit rating to have an inactive credit card?  I prefer to only use one and use the back up card only if I misplace the one I regularly use”. I replied “Good question. It’s...
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Mortgage refinance eliminated $240,000 debts Last month I met a middle aged couple who had accumulated more than $240,000 of unsecured debts via thirteen different credit cards and lines of credit. Their minimum monthly payments on this staggering debt load was well over $5,000– which is about how much their combined take home pay is each...
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The First Time Buyer Fights Back Despite the hot market and surging home prices, first-time-home-buyers have many creative solutions at their disposal. Even when the “Bank of Mom & Dad” isn’t an option, there are still other practical approaches available.  FTHB are better positioned for home ownership than they realize. This week, the marketing folks at RateHub came...
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Explain Mortgage Amortization Period and Term Mortgage professionals often fall into the trap of presuming knowledge and understanding of our terminology that simply isn’t there – especially with first time home buyers. I was reminded of this when an intelligent, financially responsible new buyer recently asked us how come her mortgage rate was going to...
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