A study from the Bank of Canada concluded that those consumers who receive the best mortgage rate are those who are willing to bargain and negotiate, have more equity, are new clients, and who use a mortgage broker, among other variables. As follows, it is rare nowadays that anybody should pay the bank’s posted rate…
In the middle of winter it’s hard to find solace in the same four walls you’ve been hibernating in. The birds have long since flocked south, and soon, throngs of youth will be flocking to the resort beaches as well. While there’s no denying the luxury these resorts provide, why not have the best of…
It’s official: 2014 is in full swing. You’re likely in the thick of trying to tackle and stay true to all the New Year resolutions you have committed to. While we all want to better ourselves personally with self-improvement goals, the truth is that many of those resolutions revolve around finances. When you think about…
Canadian policy makers have used the United States’ housing market as a cautionary tale for our own benefit. To ensure Canadians don’t fall into the same dilemma, regulators have created new mortgage rules to limit housing risk since 2008. They have been great preventive measures to allow the Canadian housing market to remain stable. However,…
When your mortgage term is about to expire, it’s best to start considering renewing your mortgage. But you may be wondering when the best time to renew is – sooner or later? There are always two sides to every coin; there are benefits and consequences to every choice.
As we say goodbye to 2013 and welcome in 2014, we can learn from this past year’s real estate market trends to predict expectations in the new year. According to the Canadian Real Estate Association, Canadian home sales turned out slightly better than expected in 2013 and sales will continue to increase in 2014.
Economic stresses can happen to the most careful individuals. You may think you are prepared by planning, budgeting and saving, but unexpected issues can arise for various reasons. Identifying areas where you are the most vulnerable and making contingency plans is one aspect of the solution, but sometimes these efforts are inadequate. You need to know what…
Beacon scores will definitely dictate the mortgage amount that lenders are going and willing to offer. This is also the determinant of what you are going to pay if your mortgage request goes through. It is therefore important to know the basics of beacon scores as this will come a long way in understanding how…
Owning your first home is a big step. You no longer have to worry about rent, you can set up your home as you like, mow your lawn, and you also get invited to home owners meetings. Owning a house can be quite challenging, it is necessary to carry out research and talk with experienced…
The process of purchasing a home and arranging for a mortgage can be almost overwhelming, especially to a first-time home buyer. When doing the research, it is important to get assistance to understand terms and conditions. Informed decisions about the terms and budgetary impact is a part of choosing the right financing package. Learn here…
