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Text:Rising Interest Rates And Your Mortgage Background: Well-lit home in the evening
Published: • Since the summer of 2017 we have seen the Bank of Canada Prime interest rate increase five times – from a low of 2.7% to the current 3.95%. This means that most homeowners with variable rate mortgages saw their mortgage payment increase five times in eighteen months! At the same time, five-year fixed...
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mortage renewal 700450X THUMBNAIL
Canada's mortgage stress test and a new international accounting standard -- IFSR 9 -- are creating tremendous uncertainty for mortgage renewals, including for some borrowers, shockingly high interest rates.
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mortage renewal 700450X THUMBNAIL (1)
Auto-renewing your mortgage is easy, but can be a very poor financial decision. These top 3 mortgage renewal tips will help you get the best rate and terms and may save you thousands of dollars.
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Published: • Getting a Mortgage After a Split Can Be Difficult When You Pay Child Support or Alimony After a marital split, arranging a mortgage can be difficult. Some people find it hard to qualify for a mortgage when they are on the hook for child or spousal support. The reason is most mortgage lenders...
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Published: • Got equity in your home? 7 ways you can make it work for you One of the nice things about being in the real estate industry for so long is I have seen lots of examples of Canadians boosting their net worth dramatically by virtue of building equity in their home. When I...
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How To Take Equity Out of Your Home When You Need Additional Cash One of the benefits of our bullish real estate market is many of you have accumulated substantial equity in your homes. Some are content to think of this as a core part of their retirement plan, while others are itching to put...
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REFINANCE 700450X THUMBNAIL
Refinancing your mortgage can be a great tool to achieve many different financial goals, from saving money by lowering your rate, to consolidating debts, to taking cash out of your equity for renovations, investment opportunities or even education.
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Getting Bridge Loan When You Have Great Assets and No Need For Mortgage Can Be Problematic Dear Ross: We finally decided to sell the family home in Markham and move to a waterfront condo near Oakville, Ontario. It just didn’t make sense to maintain a four bedroom house, when it’s just the two of us....
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Published: • Need to sell before you close on your new home? A bridge mortgage may be the solution! I’ve noticed the need for bridge mortgages has increased over the past year. The need arises when the sale of your home closes sometime after the day your purchase closes. In most cases you will already...
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