Posts tagged ‘Toronto Mortgages’
What Is A Cashback Mortgage?
Tweet 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 [...]
Mortgage Interest Rate Review Oct 7th 2011
Tweet 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 [...]
Understanding Your Mortgage Payments: Interest vs. Principal
Tweet 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 [...]
Mortgage Interest Rate Update August 10th 2011
Tweet 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 [...]
Bank of Canada Prime remains Unchanged and Feedback on New Mortgage Rules
Tweet 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 [...]
The Mortgage Radar: Fixe 5 Year Rates Up, The Deleveraging Recession, Severing Your Lot, Refinance Your Debt
Tweet Leading the mortgage radar this week is news about the increase of 5 year fixed rate mortgages. Fixed rate mortgages are priced according to 5 year bond yields and have a positive relationship. Meaning that if bond yields increase then fixed rate mortgages have a tendency to increase as well and vise versa. The [...]
Reader Comment From TD Green Fuzzy Handcuffs
Tweet Anonymous Writes in response to TD Collateral: Green Fuzzy Handcuffs: Wow, you’re either really misinformed or deliberately twisting everything. The other banks are not sitting on the side lines waiting to see if TD’s changes works. Scotia has been doing it for years as their STEP mortgage, that’s why TD has made it [...]
Mortgage Interest Rate Review November 15th
Tweet 2.45% – 1 Year Fixed 3.34% – 3 Year Fixed 3.49% – 5 Year Fixed (quick close Dec 31sh) 3.54% – 5 Year Fixed (120 day ratehold) 3.09% – Merix 50/50 Mortgage (Fixed/Variable hybrid) P-.70 3 Year Variable (2.30%) P-.75 5 Year Variable (2.25%) Prime Rate is currently 3.00%. Bank of Canada [...]
The State Of Mortgages In Canada Report from CAAMP
Tweet The Canadian Association of Accredited Mortgage Professionals, a body that serves as the industry voice to government, media and regulators, released their Annual State of the Resident Mortgage Market in Canada Report this week. The sixth annual report compiles data to give an overview of the evolving state of the residential mortgage market in [...]
