Take a look at the Global News - Consumer SOS report from April 20th where a discussion of interest rates took place on the heels of the Bank of Canada overnight rate announcement: click here for the link ... Read More
New Mortgage Rules Start Today
The new mortgage rules that the Federal Government has imposed take effect today. Here are the new rules and how they may affect you: 1. Qualifying rates have changed for variable rates and fixed rates with terms of 1-4 ... Read More
An overview of the HST in Ontario – coming into effect July 1, 2010.
After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate ... Read More
New Mortgage Rules – an ambiguous announcement
Stay tuned for the ever changing interpretation of the 3 new rules to the mortgage industry announced by the Finance Minister yesterday. His statement was ambiguous at best and many questions still go unanswered about how ... Read More
New Mortgage Rules: A breakdown of what they are & what they mean to you
Minister of Finance, Jim Flaherty announced 3 new mortgage rules to take effect on April 19, 2010. Keep in mind that these apply to Government backed mortgages - CMHC insured. Here are the rules which are excerpts from the ... Read More
8 Super Tips for Paying off your Mortgage Faster
For many Canadian homeowners, paying off their mortgage as quickly as possible is a top priority. Paying down extra principal in the years by whatever means possible can shorten the life of your mortgage and dramatically ... Read More
Are 35 year amortizations for mortgages at risk in Canada?
Looks like the Governor of the Bank of Canada, Mark Carney doesn't agree with Canadian banks that there is a housing bubble in the making. Luckily, Finance Minister Jim Flaherty has been convinced of the same...for ... Read More
Recent Mortgage Brokers survey says borrowers not taking on undue risks
Great article in the Montreal Gazette addressing a recent survey commissioned by the Canadian Association of Accredited Mortgage Professionals which indicates that mortgage clients are not taking "undue risks" when it comes ... Read More
Let’s talk 7 and 10 year fixed mortgage rates…
...and why they may not be the best choice for your mortgage. There has been a lot of talk in the news the last 2 weeks about extended fixed terms, namely 7 and 10 year fixed mortgages. It's true that rates are ... Read More
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