Be careful before you break that mortgage – Consult with a Vancouver Mortgage Broker

Low mortgage rates tempt, but penalties for breaking can be high You want some of these record low rates on the market but you’re locked into a mortgage. Just break it, right? Not so fast, there’s a key question you need to ask before you commit to break a mortgage: how much will it cost […]

BMO Home Buying Report: First-Time Buyers Expect to Spend $300,000 on First Home with an Average Down Payment of $48,000

– On average, first-time buyers expect it will take them 20 years to pay off their mortgage – Report shows first-timers prefer a fixed rate to a variable rate mortgage by more than a 2:1 ratio – Report reveals how recent changes to Canadian mortgage rules have affected the timeline to buy for first-time buyer […]

Breaking your mortgage: ‘It’s either worth it or it’s not’

Fixed-rate mortgages are at historic lows but if you are locked in to a contract with your bank, those benefits may be yet elusive. First you have to do the math to see if breaking your contract is worth the penalties you may face. “There is no grey area,” says Cindy David, a certified financial […]