What Amortization Should I Have On My Mortgage?

What Amortization Should I Have On My Mortgage? What Amortization Should I Have On My Mortgage?Short answer: the longest possible amortization you can get! However, the goal is to get the longest amortization possible, but then increase the payment or make lump sum payments to move the amortization to the lowest possible and therefore be […]

The Truth About the Cash Back Mortgage

The Truth About the Cash Back Mortgage We often see ads from the major lenders offering cash back incentives on their Mortgage products. Gone are the days where a Cash Back Mortgage could be used to facilitate a purchase without the required minimum of a 5% down payment. Cash Back incentives are now made available for […]

Canadian mortgage expert reacts to Fed plans

The Fed’s recent announcement keeping the overnight rate unchanged should reassure Canadian brokers, says one industry expert here. “This is good news for Canada, where the economy is much weaker than in the U.S. and where the Bank of Canada is at least a year away from tightening,” says Dominion Lending Centre’s Chief Economist Dr. […]

Canadians’ mortgage debt ramping up fast as cheap money fuels leap in luxury home prices

A new report from the Canadian Imperial Bank of Commerce says prices for the country’s most expensive high end homes are rising much faster than the overall market, skewing average values. Canada’s housing bubble: As Alberta’s market tumbles, the rest of us wonder who’s next Some of the more bearish economists think Alberta’s malaise may […]

WHY BANKS WANT YOU TO SIGN THE RENEWAL AGREEMENT THAT THEY MAIL OUT TO YOU

WHY BANKS WANT YOU TO SIGN THE RENEWAL AGREEMENT THAT THEY MAIL OUT TO YOU Why banks want you to sign the renewal agreement that they mail out to youMost banks boast a higher than 90% renewal rate on their mortgages (some even higher than 95%). Since it costs them a lot more money to […]

CMHC says Toronto housing market at ‘high risk,’ as economists fear Tories ‘throwing fuel on fire’

Overvalued prices in the real estate markets of Toronto, Winnipeg and Regina are now at “high risk,” according to the latest assessment from Canada’s federal housing agency. ‘Ghost vacancies’ haunt downtown Calgary as oil patch layoffs empty office buildings Vacancy rates in Canada’s energy capital have spiked as companies lay off thousands of employees in […]

7 Questions To Ask Yourself Before Building a Home

7 Questions To Ask Yourself Before Building a Home Building your dream home can sound really exciting, but have you thought about everything that goes into building a new home? Here are 7 Questions you should ask yourself before making any concrete plans. 1. What are my expectations with this new home? Are you looking […]

Have You Considered Purchasing a Property with a Secondary Suite?

HAVE YOU CONSIDERED PURCHASING A PROPERTY WITH A SECONDARY SUITE? Have You Considered Purchasing a Property with a Secondary Suite?The Canadian Mortgage and Housing Corporation (CMHC) recently announced that in order to facilitate affordable housing choices for Canadians, it would be making some policy revisions on how they consider income derived from secondary suites. Considering […]

The Value of a Rate Hold

THE VALUE OF A RATE HOLD The Value of a Rate HoldSecuring a rate hold is like having insurance on your mortgage rate – you no longer have to worry about mortgage rates increasing while you find your new home over the next 90-120 days. And if rates drop within that same period, so too […]

When the only ring is on your keys: What common-law couples should know before buying a house together

Charmaine Ferguson and Colin Andrews have been together for three years, since they were 28. Their lives are tied together in almost every significant grown-up way. They love each other, they support each other — Colin even moved from Edmonton to Calgary so Charmaine could accept a teaching job — and they own property together. […]

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