As widely speculated, the Bank of Canada has increased their overnight rate by .25%.. How does this affect you? Well if you are in a variable rate mortgage then expect the prime rate to increase from 2.25% to 2.50% and your ... Read More
Kim Gibbons on Global News discussing Credit Bureaus & Mortgages
Sean O'Shea from Global News caught me in between Victoria Day barbeques to discuss the importance of your credit bureau as it pertains to obtaining a mortgage. click here to watch the news segment ... Read More
Understanding the Trends Behind Mortgage Interest Rates
The Bank of Canada is expected by many economists to raise short-term interest rates in June or July, prompting many homebuyers and mortgage holders to ask whether a variable-rate mortgage or a fixed-rate mortgage is best for ... Read More
Kim Gibbons on Global News Discussing Mortgage Interest Rates
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
Good and Bad Debt – Is There a Difference?
Not all debt is created equally. Let's face it, debt is not something we desire to have but there is a difference between the good and bad and it lies in how it can hurt or help you reach your financial ... 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
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