‘Free’ loyalty rewards may cost you up to $520 a year – Consult with a Vancouver Mortgage Broker

Credit card swipe fees can add up for merchants and consumers. But surcharging may not be the solution. By: Dana Flavelle Economy, The average premium credit card generates more than $400 a year in indirect merchant swipe fees – all so you can collect so-called “free” rewards. That’s on top of the $120 a year annual fee […]

Can you handle higher interest rates? – Consult with a Vancouver Mortgage Broker

Garry Marr  | @DustyWallet It may be stressful to think about it but higher mortgage rates are on the horizon. The questions for homeowners is whether they can handle a hike in interest rates. Bank of Montreal says consumers should stress test their mortgages a couple of ways, considering higher interest rates and a shorter amortization period. […]

How to turn your property into a vacation rental- Ask a Vancouver Mortgage broker

Want to make a few extra bucks renting out your home when you’re out of town? Or maybe you have a cottage you’d like to rent out when you’re not using it. Here’s what you need to know to turn your property into a money-making vacation destination. Dropping off the keys All property owners have […]

More Canadians in debt, making lower monthly payments poll finds – Consult with a Vancouver Mortgage Broker

By: Linda Nguyen The Canadian Press A new poll suggests that more Canadians are in debt this year and taking longer to settle their accounts. The study released Wednesday by the Bank of Montreal (TSX:BMO) found that 83 per cent of Canadians surveyed admit to having some form of debt, an increase from 74 per cent a […]

Are bank online mortgage break-fee calculators reliable? Not always – Consult with a Vancouver Mortgage Broker

Are bank online mortgage break-fee calculators reliable? Not always ROBERT MCLISTER– Special to The Globe and Mail Getting a quote for the cost of breaking your mortgage early – and understanding it – hasn’t always been easy. That was supposed to change last year when the Finance Department compelled banks to put penalty calculators and guidelines […]

Pick the right term, pay off mortgage faster – Ask a Vancouver Mortgage Broker

ROBERT MCLISTER– Special to The Globe and Mail The trick to making a mortgage disappear faster is to minimize your total borrowing cost. And nothing dictates total borrowing cost more than the term you chose. Picking the right term is even more important than selecting the best lender, choosing the appropriate mortgage features and finding the […]

Strategic Matches – A New Way to Place Private Mortgages – Consult with a Vancouver Mortgage Broker

By Rob McLister, Editor, CanadianMortgageTrends.com Have you ever seen a cool new idea and wondered how on earth it took so long to come up with it? One such idea, at least in this author’s mind, is matching private lenders withnon-prime borrowers online. And a start-up called Strategic Matches is now doing just that. Strategic Matches simplifies […]

First-time home buyers undeterred by mortgage rules, rates – Ask a Vancouver Mortgage Broker

Garry Marr |More from Garry Marr | @DustyWallet About two-thirds of first-time buyers say they’ll purchase a home as planned and are unaffected by new mortgage rules brought in by Ottawa a year ago, says a new survey. The findings come as the banks continue to increase long-term interest rates in the face of rising bond yields but […]

Canadian housing market defies skeptics as starts top expectations – Consult with a Vancouver Mortgage Broker

TORONTO — Canadian housing starts were stronger than expected in June and May figures were revised higher, according to data released on Tuesday, the latest report to show the property market rebounding from last year’s government-induced slowdown. Housing market fuelling loonie’s rise from two-year-low The Canadian dollar rose from its lowest level in almost two […]

Crush your mortgage – Ask a Vancouver Mortgage Broker

Opaque contracts. Stiff penalties. Unnecessary insurance fees. Mortgage documents are full of traps that make it extremely difficult to pay off your biggest debt. MoneySense shows you how to pay off your mortgage early and become debt-free sooner than you imagined. By David Hodges | From MoneySense Magazine,  It was a sun-drenched autumn afternoon in 2005 when Heidi Croot and […]

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