Posts tagged ‘Toronto Mortgages’
Canadian Real Estate Market: Balloon or Bubble?
I’ve been having a lot of conversations lately with clients and colleagues about the stability of the Canadian real estate market and the fear of a crash. The Canadian media has latched on to the subject and on a daily basis is pumping out sensational news stories of doom and gloom for Canadian real estate. [...]
3 Signs Canadians Are Managing Their Debt
Canadian household debt is a hot topic again for both the government and the media. Recently, there’s been a flurry of negative press regarding Canadian household debt. And rightfully so. But in the face of all this negative press, positive signs are starting to shine through indicating that Canadians are starting to hold back the [...]
ING Introduces Their New HELOC
Everybody’s favorite Dutch bank, ING, has finally released their eagerly awaited Home Equity Line Of Credit or HELOC. HELOC products are very popular and usefully for home owners who like the flexibility to tap into their unused equity. A HELOC is a type of mortgage that combines a line of credit and mortgage in one [...]
How To Protect Yourself From A Mortgage Interest Rate Increase
How To Protect Yourself From A Mortgage Interest Rate Increase One of the questions I get asked all the time is, “how do I protect myself if the mortgage interest rates go up?” To help you with this challenge, I’ve put together 3 points you can use to protect yourself if the mortgage rates go [...]
What Is A Cashback Mortgage?
Bank branches sometimes promote them and you may have come across paper and online ads for them. So what is a cashback mortgage, and more importantly, who should consider them? A cashback means that the lender will give you 5% of your mortgage amount back as cash. So, if you borrow $100,000 they will also [...]
Mortgage Interest Rate Review Oct 7th 2011
This week, mortgage interest rates have continued a trend that we’ve seen developing over the past 4 weeks. Mortgage lenders are effectively enticing mortgage borrowers to take fixed rate mortgages by lowering their fixed rates and increasing the spreads on their variable rate mortgages. This has created a convergence of fixed and variable making fixed [...]
Understanding Your Mortgage Payments: Interest vs. Principal
Although your periodic mortgage payments appear to be the same amount, the proportion allocated towards paying interest and paying down your balance (or principal) is constantly changing. For each mortgage payment you make, your money is first used to pay the interest on your outstanding balance and the remaining portion is used to reduce your [...]
Mortgage Interest Rate Update August 10th 2011
The recent global economic downturn has benefits if you are currently in the mortgage market. The market mayhem has two effects: on the one side it alleviates any pressure the Bank of Canada may have felt to increase the prime rate and secondly, as investors pour their money into safe investments like Government of Canada [...]
Bank of Canada Prime remains Unchanged and Feedback on New Mortgage Rules
This week there were two mortgage related headlines that we wanted to communicate to you. 1. The Minister of Finance announced 3 changes to mortgage rules that will come into effect on March 18th 2011. 2. Making less head lines than usual the Bank of Canada met and decided to keep the prime rate unchanged. [...]